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Restructuring, COVID challenges and cloud - FY22 in review

Restructuring, COVID challenges and cloud - FY22 in review

A recap of which tech businesses went into the black and the red in the 12 months to 30 June.

Credit: Supplied

According to NextDC CEO and managing director Craig Scroggie, the data centre operator continued to grow its customer ecosystem, rising 7 per cent to 1,613, and “remains ideally positioned to capture the benefits of prevailing industry tailwinds driven by the growth in cloud computing and accelerated digitisation.”

Meanwhile, Data#3 experienced a 12.1 per cent rise in revenue, up to $2.2 billion. Of this, $1 billion was public cloud revenue, which rose 31.3 per cent.

Aussie Broadband was another star player, with net profit jumping up 118 per cent year-on-year, to $5.3 million. By comparison, FY21 saw it record a loss of $4.5 million.

Revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were also up and breaking records during the 12 months to 30 June, rising 56 per cent, to $546.9 million, and 107 per cent, to $39.4 million, respectively.

In fact, Aussie Broadband’s EBITDA exceeded its guidance for the second financial year in a row.

Vonex was another profitable business experiencing solid growth, with post-tax profit jumping up 108 per cent, to $331,000 in the black. 

According to the wholesale and retail telecommunications services provider’s chairman, Nicholas Ong, the profit rebound was due to increased scale and a tight focus on cost controls, resulting in its maiden full-year profit since listing on the Australian Securities Exchange (ASX).

In terms of pure dollar value, no one could beat NBN Co’s revenue of $5.1 billion for its financial year ending 30 June.

The result came down to approximately 316,000 additional net activations since 30 June 2021 and counted 8.5 million residential and business premises connected to the network. 

In particular, it recognised increasing demand for higher speed tiers with 76 per cent of customers on retail plans based on wholesale download speed tiers of 50 Mbps and above and 18 per cent of residential customers using plans based on wholesale speed tiers offering download speeds of up to 100 Mbps and above.

Although not reaching the triple digits, Atturra also had a strong financial year in its first report posted to the ASX since listing in December last year, with revenue rising 37 per cent, to $134.6 million, and profit after tax up to $8.08 million.

While not a full financial year result, Dicker Data’s half-yearly came in during report season, with revenue rising 36 per cent, to $1.5 billion.

The distributor's results were due to advanced solutions such as infrastructure, networking, security and software returning to high levels of growth as business confidence climbs.

The company also noted that demand for end user computing and devices had normalised while its professional audio visual (AV) division continued to grow above expectations.

“The company delivered strong growth in H122 as a result of the continued digital transformation of the corporate, commercial and government sectors in Australia and New Zealand," Dicker Data CEO and chairman David Dicker said at the time.

“Demand remains strong across the company’s product portfolio highlighting IT distribution’s essential role in enabling access to technology and the appetite of the local market for technology services and products. 

“This trend shows no signs of slowing as the digital transformation continues.”

TPG Telecom was another business to report on its half-yearly result, with it reporting its net profit after tax rising 114 per cent, to $167 million, and service profit increasing by 0.7 pe4r cent, to $2.2 billion.

Retailer JB Hi-Fi managed to end the financial year with a net profit after tax increase of 7.7 per cent, to $544.9 million. It didn’t refer to a figure for profit, but it did specify that overall sales rose 3.5 per cent year-on-year to a record A$9.2 billion in FY22.

Superloop saw a dramatic swing for both revenue and profit, with total revenue rising 137 per cent to $262.5 million and net profit after tax dropping 82.5 per cent to $52.6 million into the red. 

Likewise, Tesserent’s statutory revenue was up 50 per cent to $113 million and its net loss almost doubled to $8.8 million.

Data centre provider DC Two was in a similar boat, with revenue increasing 143 per cent and its loss for the year grew 20 per cent to $4.3 million.

By comparison, MOQ Limited experienced a less dramatic result, with revenue increasing 18 per cent to $81.9 million and net loss after tax coming to $6.4 million.


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Tags nbn coData#3Dicker Datajb hi-fiTPG TelecomNextDCAussie BroadbandSymbioCirrus NetworksSuperlooptesserentMOQ LimitedVonexMOQDC TwoArchTisSpirit Technology SolutionsAtturra

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