Bigblu Broadband (BBB) Reveals Strong Growth
is a provider of alternative fast broadband services throughout Europe and Australia.
The business has been growing via both organic and acquisitional growth. This has been driving strong revenue growth, improving margins and cash flows.
Andrew Walwyn, CEO of BBB said: "The acquisitions we have completed over the past three years are now making a meaningful contribution to the bottom line as the benefits of being part of a larger group is reflected in their individual financial performances.”
It reported total revenue increasing 25% to c. £55m (FY 17: £44m), strong recurring revenue numbers: increasing c. 27% to c. £51m, (94% of total revenue), and continued customer growth from 100,000 to c. 113,000 customers.
The company targets consumers and businesses unserved or underserved by fibre, of which there remains a substantial market to be served, with 27m customers in Europe with speeds of under 4 Mb, and 1m in Australia who have been identified as only suitable for either satellite or fixed wireless broadband.
It’s goal is to have ultra-fast broadband coverage for its core markets – which is strategically aligned with the EU directive of 30 Mb for all European countries by 2020 and 100 Mb by 2025.
Shares in BBB rose 3% to 98.5p a share following the trading update
Last week the company was selected as a preferred partner by Eurobroadband Infrastructure (EBI), a subsidiary of Eutelsat (NYSE/Euronext: ETL), which is launching a market leading superfast satellite broadband service to consumers and businesses across Europe at download speeds of up to 50 Mbps.
Based on a shared growth model, the commercial arrangement between EBI and BBB is to boost the deployment of internet access via satellite across Europe in line with EU 2020 targets.
Andrew Walwyn, CEO of BBB, commented: "We are delighted to be selected as preferred partner by EBI to offer a truly next generation satellite broadband offering in Europe, which is an amazing foundation for the growth of Bigblu.”
He said: "The investment EBI is making in this new superfast 50 Mbps product is a gamechanger for BBB and our customers alike.”
He added: "I believe that the market for superfast broadband solutions, such as ours, will remain extremely buoyant over the foreseeable future as consumers continue to demand faster and more dynamic broadband services wherever they are located. With this positive market backdrop and our new network partners across Europe, BBB will focus on delivering double-digit profitable growth in 2019."
The company is already established and positioned well to capture more growth, with existing clients ranging from domestic homes to multi-national corporations, the military, and Governments. Lead by an experienced management team, it recently hired Mark Anderson, previously a director of Sky and Fox Networks, as Chief Operating Officer to support future growth.
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