Netomnia, in collaboration with Brsk and YouFibre, has announced their full-year 2024 results, highlighting significant growth and solidifying their position as the UK’s second-largest alternative network provider. The group’s rapid expansion continues to reshape the broadband market, with a clear focus on scaling their retail and wholesale operations efficiently.
Key Performance Highlights
- Premises Serviceable:
The group now boasts a total of 2.08 million premises serviceable, marking an impressive increase of 1.27 million premises within the year, with 255,000 premises added in Q4 2024 alone. This achievement underscores the group’s aggressive network rollout strategy and its commitment to bridging the digital divide across the UK. - Premises Connected:
Connections have grown substantially, reaching 238,000 premises connected, reflecting a rise of 171,000 connections in the past year and 48,000 in the most recent quarter. This strong growth in customer uptake indicates increasing demand for Netomnia, Brsk, and YouFibre’s high-speed broadband services. - Revenue Surge:
The company reported a revenue of £38.6 million, an extraordinary increase of 321% year-over-year (YoY). This growth highlights the successful execution of their market expansion strategies and the increasing adoption of their broadband solutions. - Take-Up Rate Improvement:
The take-up rate has seen a healthy increase, reaching 11.5%, representing a growth of 38% YoY. As more premises are connected, customer demand continues to accelerate, demonstrating the group’s ability to convert serviceable premises into active subscribers. - Adjusted EBITDA:
Despite the revenue growth, adjusted EBITDA stood at £(29.6) million, reflecting a 13% decline YoY, which may be attributed to the group’s continued investments in infrastructure expansion and operational scaling. - Net Debt Levels:
The group’s net debt has risen to £531 million, an increase of 223% YoY, indicating substantial investment in network expansion and strategic consolidation efforts, including the partial year integration of Brsk from August 2024.
Jeremy Chelot, CEO of Netomnia, emphasized that reaching the 2 million premises milestone is a defining moment for the group. He stated:
“The integration of Netomnia, YouFibre, and Brsk is nearing completion, creating the only scaled and capital-efficient retail and wholesale platform in the market. With our proven execution capabilities, we’re confidently progressing toward our next milestone of 3 million premises serviceable by the end of 2025.”
