On 27th February Vocus announced its 1H19 earnings. Revenue increased slightly but EBITDA and profits remain on a downward trend.
Key results in the Enterprise, Wholesale and Government segment include:
Overall revenues increased 27% from 12 months ago, largely driven by project revenues from the Coral Sea cable build, which is due to be completed by the end of 2019
Recurring revenues increased by 6%, supported by:
Improvement in new business growth across the division due to increased investment in sales
Implementation of account management functions to support growth opportunities within the existing customer base
Successful delivery of Australia Singapore Cable and conversion of the built-up demand
Strong growth in wholesale NBN SIO’s based on core value proposition and new products
Consumer and business segments saw large declines in revenue and SIOs.
In a year of “resetting”, Vocus faces the difficult challenge of extracting value out of its fibre assets through enterprise projects and transforming its Consumer segment with a renewed focus on mobile and wireless.