Community Fibre is celebrating an 82% increase in annual revenue to £76m in its latest annual filings, reporting earnings before interest, tax, depreciation and amortisation (EBITDA) of £8m in 2024, marking its first profit.
The altnet provider, backed by private equity firm Warburg Pincus, has been EBITDA positive since April 2024.
The company also saw annual gross margin increase to 87%, as well as a 51% customer base growth in the past year, making it the UK’s third-largest altnet network by the all-important measure of customer numbers.
The latest filings mark a major milestone in Community Fibre’s commitment to continued customer growth in both the consumer and B2B market, increasing revenues and driving higher profitability, demonstrating its credibility and potential for future growth.
Graeme Oxby, CEO of Community Fibre commented: “We are convinced that a relentless focus on network and sales excellence, lean operations, and service is the foundation for success in the altnet market.
“Community Fibre has proven that new broadband competition can not only be financially sustainable in the long run, it can also deliver meaningful advantages to UK society.”
Throughout the year, Community Fibre expects to see additional customer growth from its two major ISP partners, as well as acceleration of its B2B broadband arm.
With its lean operating model, promise of a stable pricing regime on PIA through 2026 to 2031, and investments in AI and automation, the altnet provider expects to sustain margins.
Olaf Swantee, Community Fibre Chairman added: “Our 2024 results and strong outlook confirm that Community Fibre is on the right track. Our strategy delivers products, pricing, and service at the lowest unitary cost. As such, we have established the business as a trustworthy provider and a reliable investment proposition.”
