Tuesday, 18 August 2020 12:34

Spirit claims a 'transformative' year with record growth in 2020 Featured

By
Spirit Telecom Managing Director, Sol Lukatsky Spirit Telecom Managing Director, Sol Lukatsky

Australian-listed Internet service provider Spirit Telecom is trumpeting record growth of the business for 2020, with revenue increasing 100% to $34.9 million and an after tax net loss of $1.5 million in what the company describes as a “transformative” year.

Releasing its financial results for the 12-months to the end of June 2020, Spirit said revenue was driven by organic growth, seven completed acquisitions and a “well-tuned integration process”.

Spirit Telecom also reported underlying EBITDA was $3.73million - at the upper end of the guided range and up 88% on the previous year, with net loss after tax at $1.5million “after investing in an aggressive acquisition and organic growth strategy to create scale, size and product depth”.

“As a result of these investments in FY20, Spirit’s July trading update shows that FY21 has started strongly, with new sales of $2.3M (total contract value TCV) added during July, up from $0.9M, representing a 165% increase month on month from June bolstered by the acquisition of VPD Group (completed on 1 July) which contributed $1.3M in TCV,” Spirit said.


Spirit also notes that it signed 21 new Resellers & Spirit Solution Partners nationally in July to sell its products using the Digital Spirit X sales platform that saw “12,000 unique leads and searches in H2 20”.

“FY20 has been a year of phenomenal growth and transformation. The July trading update shows we’re off with a fast start to FY21, and we continue to pursue an aggressive growth agenda both organically and via a range of acquisition options,” said Sol Lukatsky, Managing Director of Spirit Telecom.

“Having completed seven acquisitions, including material acquisitions such as VPD and Trident over the past 12 months, we’ve assembled and integrated the product suite and service delivery model that’s enabled us to become a truly modern Telco and challenge the major IT & Telco providers head on.

“We will continue to invest in growing the Spirit brand nationally and are committed to not only meeting but exceeding the needs of Australian businesses when it comes to their IT and Telco needs, with Spirit’s customer-focused approach.

“In FY21 our priority is to bring our entire Cloud and IT offering onto our digital sales platform, Spirit X, and expand our wholesale dealer network creating an even stronger engine for organic growth.

“We’ll continue with our disciplined M&A strategy, to find right-price, right-fit businesses that support the expansion strategy, as well as continuing to focus on integration and optimising growth synergies.”


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for 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).

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