London Full Fibre Broadband ISP CommunityFibre Reports First Profit
In a major milestone, London-based full fibre broadband provider CommunityFibre has reported its first profit. The alternative network ISP, which has deployed its 5Gbps capable network to 1.35 million premises primarily in Greater London, recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of £8 million in 2024.
Customer Base Surges to 336,000
CommunityFibre also saw its customer base grow to an impressive 336,000 in 2024, up from 222,000 the previous year. The ISP’s CEO Graeme Oxby attributes this success to their focus on increasing customer uptake after a challenging couple of years due to rising costs, market competition, and high interest rates.
“Hitting profitability proves that broadband competition can be financially sustainable in the long run,” said Oxby. “We’re immensely proud of what our team has achieved.”
Revenue Jumps 82% to £76 Million
The full fibre provider reported an 82% increase in annual revenue, reaching £76 million in 2024 compared to £41.7 million the prior year. This substantial growth reflects CommunityFibre’s ability to attract and retain customers in a highly competitive market.
However, the company is still expected to report a pre-tax loss of £118.5 million for 2024 due to heavy investments in network expansion. In 2023, CommunityFibre posted total losses before tax of £134.6 million.
Backed by £1.1 Billion in Funding
CommunityFibre’s rapid growth has been supported by around £1.1 billion in funding from shareholders including Warburg Pincus LLC, DTCP, Railpen and NDIF, as well as lenders like JP Morgan and Barclays. This capital has enabled the ISP to push forward with its ambitious rollout plans.
Positive EBITDA a Key Milestone
Achieving a positive EBITDA is a significant milestone for any growing company. It indicates that the core business operations are generating a profit, although it doesn’t account for all financial expenses. Banks often look at EBITDA to assess a company’s ability to pay off debt.
For CommunityFibre, this first taste of profitability is an important validation of their business model and a positive signal to investors. It suggests that with scale, full fibre altnets can be financially viable.
Focused on Accelerating Growth
Looking ahead, CommunityFibre remains laser-focused on expanding its network footprint and growing its customer base. The ISP has set aggressive targets for the coming years as it looks to play a leading role in delivering gigabit-capable broadband across the UK.
“This is just the beginning for CommunityFibre,” added Oxby. “We have the team, the technology and the financial backing to take our full fibre network to new heights. The future is fibre, and we’re excited to be at the forefront of this digital revolution.”
