Traffic Flowing On Superloop’s Subsea Sydney-Singapore Cable
Superloop says its Indigo subsea cable linking Sydney, Perth and Singapore is now carrying live traffic and its Australian national backbone network is complete, reaching all 121 NBN points of interconnection.
Also, the company has updated FY20 full-year guidance, saying that it expects underlying operational EBITDA to be approximately double FY19’s at $14m-$16m.
The company said this reflects strong growth in its core fibre connectivity business, partially offset by planned further declines in its cloud managed services business.
It said the evolution of the way fibre infrastructure is purchased by major customers represents a significant opportunity to monetise its high-capacity network assets through large infrastructure transactions that would generate cash and/or EBITDA in the year.
Superloop will release its FY19 financial results on August 27. The company’s shares closed at $1.05 yesterday, down 7.5 cents. They are down from a high of $2.57 in August last year.