Superloop (SLC) Trading Update summary

Trading and operational highlights

• Origin Energy Retail's broadband services now run on Superloop's white label platform, with new sign-ups live from 2 July 2024 and full customer migration expected by October 2024.

• Origin's broadband customer base has grown to over 150,000, supporting Superloop's growth outlook for its white label offering.

• Superloop's Consumer segment achieved record organic growth, adding 45,720 net new customers in 2H FY24, up from 34,100 in 1H FY24.

• Over 50% of Superloop's residential broadband base now subscribes to high-speed plans (100Mbps or greater), reflecting strong demand for faster, reliable internet.

Financial guidance and outlook

• Underlying EBITDA for FY24 is expected to be at or above the top end of the $51–$53 million guidance range, pending audit finalisation.

• FY24 cash capex is on track for $25–$27 million, including $5 million for recent contract wins and accelerated customer growth.

• Efficient operating model and cost structure continue to drive earnings growth and strong cash generation.

Strategic positioning

• Superloop leverages its Infrastructure-on-Demand platform and physical assets to support growth across Consumer, Business, and Wholesale segments.

• The company enables challenger retail brands to expand market share, with hundreds of thousands of homes and businesses relying on its connectivity solutions.