Original article ISPreview UK:Read More
Alternative network operator Netomnia (Brsk, Youfibre) has today published their Q2 2025 results, which reveals that their multi-gigabit speed Fibre-to-the-Premises (FTTP) broadband network now covers 2.56 million UK premises (up 243k in the quarter) and is home to 341,000 customers (up 54k).
The results mean that the operator is still on-track for their current coverage goals and EBITDA positivity in 2025. Netomnia continues to expand their network coverage by around 1 million premises per year, and they expect to reach 3 million premises by the end of 2025 and then 5 million by the end of 2027 (inc. 1 million customers by 2028). The service is currently available across parts of over 90 UK cities and towns.
In addition, Netomnia’s take-up rate has increased by one percentage point during the first quarter, going from 12.4% in Q1 to 13.4% in Q2. This is particularly positive given the operator’s rapid rate of build, which normally has a tendency to suppress the percentage growth in take-up (i.e. building to many more premises than the rate of customer adoption).
The brief results also reveal that the operator delivered £23.6m in quarterly revenue (up from £19.9m in Q1 and 256% year-on-year) and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of (£4.9m) – up 30% YoY, the latter of which excludes exceptional items. But the ongoing network builds inevitably mean that Net Debt has also grown to £709m (up 16% Quarter-on-Quarter from £610m – debt drawn to date including accrued interest less cash).
Jeremy Chelot, Group CEO of Netomnia, YouFibre and brsk, said:
“We now have the fastest network build and customer acquisition rate among Alt-Nets. We’re on track to reach 3 million premises passed and achieve EBITDA positivity in 2025. With plans to scale to 5 million premises by 2027, we remain the UK’s most scaled and capital-efficient retail and wholesale platform, positioned to lead industry consolidation.”
The question of consolidation remains an interesting one for a network operator in Netomnia’s position, not least because it may require additional investment in order to deliver any deals of scale, and they might then find themselves battling against CityFibre and Nexfibre (Virgin Media) for some of the same players.
On the other hand, DigitalBridge also backs Freedom Fibre and the two have very little overbuild (the networks are also very close together – complementary), which could be one potential target. Jeremy Chelot’s former haunt of CommunityFibre in London might be another possibility, although that would require a serious funding agreement, but the two do have a somewhat complementary approach to build and no overbuild.
Some other options might be MS3, Trooli and a few others. Time will tell.