Alternative network operator Netomnia (inc. Brsk and YouFibre) has today announced that they’ve successfully expanded their 10Gbps capable Fibre-to-the-Premises (FTTP) broadband ISP network to cover 2.08 million UK homes and businesses (RFS) on time (up from 1.82m on 30th Sept 2024). Customers have also grown to 238,000 (up from 190k).
The altnet is now focusing on reaching their next target on time too, which was set last year during the Brsk merger (here) and aims to expand their full fibre network to cover 3 million premises by the end of 2025 (inc. 1 million customers by 2028). The service is currently available across parts of over 90 UK cities and towns.
Netomnia has also today published a quick summary of their latest Q4 2024 results, which we’ve summarised below. The eagle eyed will note how the operator can now lay claim to being the “UK’s 2nd largest alternative network provider” after CityFibre, which is a position that nexfibre was laying claim to only a week or so ago after also passing the 2 million premises mark (here) – both have a similar pace of build and may continue to trade places during 2025.
Key Figures from Netomnia’s Q4 2024 Results
➤ Revenue: £38.6m (321% YoY increase)
➤ Premises Serviceable: 2.08m (up 1.27m this year, 255k in the quarter)
➤ Premises Connected: 238k (171k added in 2024, 48K in the quarter)
➤ Take-up Rate: 11.5% (up 38% YoY)
➤ Adjusted EBITDA (£29.6m), down by 13% YoY
➤ Net Debt of £531m (up 223% YoY) – debt drawn to date including accrued interest less cash
Jeremy Chelot, CEO of the Netomnia Group, said:
“Reaching 2 million premises serviceable marks a defining moment for our Group, firmly establishing us as the UK’s 2nd largest alternative network provider. The integration of Netomnia, YouFibre, and brsk is nearing completion, creating the only scaled and capital-efficient retail and wholesale platform in the market.
With our proven execution capabilities, we’re confidently progressing toward our next milestone of 3 million premises serviceable by the end of 2025.”
Separately, back in October 2024 we reported that Netomnia were aiming to start going live with services based off ADTRAN’s cutting edge 50G PON kit by the end of 2024, which would begin with a special package offering symmetric speeds of 40Gbps (here). But we’ve since been informed that the operator is still awaiting hardware from ADTRAN, so we may have to wait a little longer for the first live services to be ready.
In fairness, ADTRAN have previously mentioned that they’ve had some challenges on the hardware supply side, which isn’t too surprising as this is their first kit using a new Broadcom chipset and brand-new box. Suffice to say that the supply and development of cutting-edge kit often needs a bit longer in the oven before it’s ready for the wild at scale.