Brief: Superloop Announces Landmark Origin Energy Broadband Contract

Superloop

14/03/2024 01:35

March 14 (Reuters) - Superloop Ltd  SLC.AX :
    * SUPERLOOP ANNOUNCES LANDMARK ORIGIN ENERGY BROADBAND
CONTRACT
AND UPDATES FY24 GUIDANCE AND FY25 OUTLOOK
    * SIGNED AN EXCLUSIVE SIX-YEAR CONTRACT TO PROVIDE WHOLESALE
INTERNET SERVICES TO ORIGIN ENERGY LIMITED AND ITS SUBSIDIARIES
    * CONTRACT EXPECTED TO ADD IN EXCESS OF A$19 MILLION OF
ANNUALISED
EBITDA ONCE CURRENT SUBSCRIBER BASE IS FULLY TRANSITIONED
    * SEES  FY24 UNDERLYING EBITDA A$51-53 MILLION RANGE
    * CURRENTLY EXPECTS UNDERLYING EBITDA YEAR ON YEAR GROWTH OF
60% -
70% IN FY25
    * SEES TO SPEND A ONE OFF INCREMENTAL A$5M OF GROWTH CAPEX,
SPREAD
ACROSS FY24 AND FY25 ON TOP OF ITS A$20-22M CAPEX GUIDANCE RANGE
    * IN CONSIDERATION FOR CONTRACT AWARD, ORIGIN ISSUED 9.8
MILLION
SUPERLOOP SHARES UPFRONT ON SIGNING


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