MacTel Net Profit Takes A Hit
Macquarie Telecom has posted FY net profit after tax down three percent to $16.5 million, compared to a profit of $17 million for the previous corresponding period.
Full year revenue was up 6% to $246.6 million for FY2019 compared to $233.6 million for the prior year.
However, earnings before interest, tax, depreciation, and amortisation (EBITDA) was $52.1 million for FY2019, an increase of $4.3 million or 9% on the prior year and in line with guidance. The company has a closing cash balance of $17.1 million as at June 30 2019 and an undrawn debt facility from a syndicate of banks of $100 million .
Capital expenditure for FY was $46.1 million (FY18: $33.8 million) driven by growth capex of $14.8 million for: The Fortune 100 Customer Stage 3 and Data Hall 4 fit out, NBN migrations, Government Cloud and IC3 investment. In addition, customer related capex was $21.8 million and maintenance capex was $9.5 million.
CEO David Tudehope said: “Macquarie’s profitable growth has enabled us to invest across our four business units. The success of our private cloud and cyber security services underpins our hosting revenue and profit growth”.