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#H1FY21 Results 23/2/21
stale
Added 3 years ago
  • Record Results Across the Group. Significant Organic Fibre Growth Locked-In.
  • Record H1 FY21 Revenue, EBITDA(u) and Free Cash Flow, Group-wide organic growth - Run-rate EBITDA(u) and Free Cash Flow @ $116M and $72M respectively (as at Dec 20)
  •   86% of Run-rate EBITDA at Dec 20 generated by Uniti Wholesale & Infrastructure (W&I), approximately $100m
  •  Consolidated Run-rate Revenue now 88% recurring in nature, dominated by W&I
  •  75% of >200,000 contracted fibre premises going “live” within 5 years, doubling W&I active services
  •  Uniti’s continued growth enhanced by digital app evolution, a strengthening property market, growing demand for speed and data, near-infinite fibre technology capacity & anticipated retail price inflation
  • DISC: I hold

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#Update & 4C 27/1/21
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Added 3 years ago

Operating Cash Flow up 53% on prior quarter. Free Cash Flow up 64% on prior quarter.

- Record Net Operating Cash Flow of $16.1M, up 53% on prior quarter (Q1-FY21)

- 544% increase in Net Operating Cash Flow vs prior corresponding period (Q2-FY20)

- Record Free Cash Flow in Q2 of $11.3M, up 64% on prior quarter (Q1-FY21)

- Free Cash Flow represents 70% of Net Operating Cashflow, after all capex - Key financial performance metrics for first half of FY21 above forecast levels

- Materially above-forecast growth in net new FTTP activations in the quarter

- Completed OptiComm, HarbourISP and Telstra Velocity® acquisitions in the quarter

- OptiComm (owned for 1 month of Q2-FY21), HarbourISP (owned for 2 months of Q2- FY21), Telstra Velocity® assets (owned for 1 week of Q2-FY21)

- Integration of recent acquisitions on or ahead of schedule

- $45M in cash reserves. Net debt ~2.2 times proforma FY21 EBITDA $116M @ 31/12/20 - Net leverage reduced to ~2 times proforma FY21 EBITDA, following receipt of $20M from the upsized SPP completed on 20 Jan 2021

- This is Uniti’s final Appendix 4C, having filed the required 8 quarterly 4C’s since IPO

Sorry about previous postcould some let me know ho to edit a straw

Disc: I hold