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Hostworks and Anittel add $43M to 5G Networks coffers

Hostworks and Anittel add $43M to 5G Networks coffers

Closed FY19 with net loss $4.1 million

Joe Demase (5G Networks)

Joe Demase (5G Networks)

Credit: 5G Networks

A year after acquiring Hostworks and Anittel from Inabox, 5G Networks revealed that both businesses contributed to $43 million of the company's total $51 million revenue for the year ending 30 June 2019.

Breaking the revenue down by segments, hardware and software was the highest revenue generator with $15 million, while data centre was the one that generated the least cash with only $4.1 million. 

Meanwhile the cloud division generated $12 million, managed services closed with $13.3 million and network and voice rounded the results off with $6.8 million. 

Publicly-listed 5GN exited from mobile and consumer products inherited from the acquisitions.

"We have now ceased these products to allow the team to focus on our key, profitable offerings," 5GN managing director Joe Demase told shareholders. "We have also implemented Salesforce to enhance the cross sell and upsell opportunities to our now 2,500 clients."

5GN said all acquisitions, including Melbourne Data Centre, have been integrated in FY19. It also launched nationwide MPLS – its managed data network – and expanded its footprint, stretching 11km of high-speed fibre installed or under construction throughout the Melbourne CBD and inner metro areas.

Earnings before acquisitions costs and share options were $3.2 million, with earnings before interest, tax, depriciation and amortisation were $320,000 and net loss after tax was $4.1 million.

5GN acquired Hostworks and Anittel for $5.7 million from Inabox Group in August 2018.


 


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