Thursday, 25 February 2021 00:01

Over the Wire boosts revenue, earnings for half year

By
Michael Omeros, Over the Wire managing director Michael Omeros, Over the Wire managing director

ASX-listed telecommunications, cloud and IT solutions provider Over the Wire increased revenue by 17% to $50.3 million for the half year ending December 2020, with earnings before interest, taxes, depreciation and amortisation (EBITDA) increasing 28% to $10.5 million.

However, in the negative was Over the Wire (ASX:OTW) net profit after tax, which fell by 23% to $1.8 million, during the six months ending 31 December.

With the solid half year, along with recurring revenue increasing by 25% to $45.9 million (or more than 91% of total turnover), OTW Managing Director Michael Omeros said the six months result was at the top end of the guidance that the company provided in its Business Update late last year.

“The strength of our current sales pipeline and the orders being provisioned from last quarter, our most successful quarter to-date, gives us confidence of a second half result in line with our expectations,” Omeros said.

“We continue to deliver high rates of recurring revenue (greater than 90% of total revenue), with a strong conversion of the profitability to cash, a good indicator of the future strength of our business.

“This quarter will also see the finalising of our tier one voice provider (carrier interconnect) project. This is a strategic asset in our infrastructure portfolio that will help drive further growth in our Collaboration pillar.

“Our continued investment ensures that we remain committed to delivering on our strategy, and simplifying technology to empower business,” Omeros concluded.

In addition for the half year OTW revealed strong cash conversation (129%), as it neared completion of its Tier 1 voice provider (Carrier Interconnect) project, and continued to focus on the capabilities of its three solution pillars - Cloud, Connect and Collaborate.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments