Swoop's Expansion of Fibre Infrastructure in Melbourne

Swoop Holdings Limited (ASX: $SWP) has announced its plans to significantly expand its fibre infrastructure to Greater Melbourne supported by a key customer contract. The project highlights include a signed key customer contract with initial committed revenues of a minimum of $24 million and up to $36 million over the next 22 years. Swoop will commence construction immediately and is targeting completion by the end of FY26. This expansion aims to deliver fibre to key digital infrastructure areas and new developments in Greater Melbourne, aligning with Swoop's focus on core telecommunication infrastructure and residential high-speed services, as well as servicing business customers.

Executive Commentary on Melbourne Fibre Infrastructure Expansion

Swoop's Chief Executive Officer, Alex West, expressed excitement about delivering a significant fibre network to the underserved areas of outer Melbourne, including key digital infrastructure and residential areas. The new network, built with modern techniques and state-of-the-art fibre, will provide essential connectivity to new housing regions and Swoop's existing international network. West highlighted that the revenue from the key customer contract will primarily fund the infrastructure, with the remaining funding sourced from existing cash and bank facilities. He expressed confidence in the strong revenue growth potential of this fibre infrastructure, emphasizing Swoop's focus on high-speed, high-margin, long-life infrastructure products that connect people, improve lives, and deliver returns for the business.

Summary of Swoop's Fibre Infrastructure Expansion

Swoop Holdings Limited (ASX: $SWP) has secured a key customer contract to significantly expand its fibre infrastructure network in Melbourne. The signed contract guarantees minimum revenues of $24 million, with the potential to reach $36 million over the next 22 years. The company will commence construction immediately, targeting completion by the end of FY26. This expansion project aims to provide essential connectivity to underserved areas of outer Melbourne, focusing on key digital infrastructure and residential areas. Swoop's CEO, Alex West, expressed confidence in the revenue growth potential of this infrastructure, underlining the company's commitment to high-speed, high-margin, long-life infrastructure products. The announcement reflects Swoop's strategic focus on core telecommunication infrastructure and residential high-speed services, aligning with its goal to become Australia's best challenger internet and telecommunications provider.