Full Fibre Broadband ISP CommunityFibre Grows UK Take-up to 25 Percent
Alternative network ISP CommunityFibre (CF) has finally published – much earlier than before – their full annual accounts to the end of 2024. The results reveal that their 5Gbps speed full (FTTP) broadband network ended the year with a coverage of 1.342 million homes (plus c.200k businesses) and residential customers of 336,000 (25% take-up). But employees fell to 737 (2023: 930).
The provider, which is currently being backed by funding of around £1bn, has had a rough couple of years due to the rising cost of build, strong market competition and high interest rates (a common challenge in the market). All of this has caused a previous slowdown in network build and related redundancies (here and here), which resulted in CF pivoting their strategy to focus more on growing customer uptake.
However, earlier this month CF published a preview of their annual accounts (here), which did highlight some positives (e.g. going EBITDA positive). But we’ve had to wait a couple more weeks before Companies House published the full report, which finally enables us to give a wider summary of their results.
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The good news is that that their greater focus on commercialisation is indeed starting to pay off. In particular, take-up on the residential side of their Fibre-to-the-Premises (FTTP) network seems to have grown from 14.2% in 2022, to 17.2% in 2023 and in 2024 they’ve now finally gone a shade above 25%. But we can also see the impact of prior redundancies and losses.
Summary of Community Fibre’s 2024 Results
➤ Total committed debt facility of £810m, with £714m drawn
➤ Revenue grew by 82.2% to £76m (2023: £41.7m)
➤ Gross profit increased by 87% to £65.9m (2023: 86% and £35.8m)
➤ Total employees fell to 737 (2023: 930)
➤ Total losses before tax fell to £118.5m (2023: £134.6m)
➤ Residential premises passed grew to 1,342,000 (2023: 1,288,000)
➤ Residential customers connected grew to 336,000 (2023: 222,000)
➤ Total non-current assets of £629.32m (2023: £604m)
➤ Total current assets of £36.84m (2023: £35.9m)
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
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It is concerning that even with a comparatively impressive level of takeup, losses and borrowings were still much higher than revenue. BT have been slow to build in the London areas targeted, as that changes it is going to make things interesting.
It is looking like a take up of around 40pc might be the baseline sustainable level, but the level will be higher for the smaller networks.
It is amusing how they put “Climate risk” as their number one principal risk while not mentioning the potential economic imapct of global financial turbulence.
Ah yes because London drowning is definitely the biggest risk, not their huge debt and competition
It’s probably just a dumb ESG advisor mandated by the bank terms
It is obvious that the BT trolls are still trying and failing to divert potential customers away from them to the alt nets.
No one is “trolling” the AltNets. Perhaps you are just having a little difficulty with the business realities.
Highest paid director’s remuneration pg 34 £631k.
Laughing all the way to the bank.
Their ‘customer service’ department based in S.A.is appalling.
Their network operations manager is based in S.A. as well.
April 2025 and May 2025, received a monthly invoice and it was addressed to another customer.
I understand business pretty well. You are clearly against the alt nets..BT spy has been caught out again. All businesses start up slowly, but the UK has been held back by the main ISP’s for so many years and this has had a severe detrimental effect on the UK economy. Data retention where we could have built up server farms, hosting, these have held up the UK economy. The BT troll us so unhappy with the UK getting decent symmetrical speeds for everyone. These take time and money, a business normally takes out loans but can work out well for the company and all of us.
Where is there any evidence that supports your claims? The problems have been, and still are, basic finance problems.
If you have not noticed yet, the financial markets are becoming destabilised because of the actions of the US and, to a lesser extent, the UK governments. This impacts the financing of debt and the risk associated with debt-driven investments. All UK providers – including BT – are taking on extra debt to complete these roll-outs, yet are struggling to attract sufficient customers to benefit from all the effort.
Think I’m missing something. How do the ISPs not offering higher speeds impact where our data is held? Our data runs over the same ISPs before it gets onto the Internet regardless of where it’s going?
Bit barns aren’t running on home connections. I’m not sure how Openreach not offering higher uploads pushes UK data over the Channel or Atlantic, please would you explain?
Our problem with hosting in the UK is cost of electricity and the business environment not lack of bandwidth to homes and businesses.
Hopefully they’ll start building again then.
I clearly have, but the paid off agent cannot stand why the UK is finally getting somewhere. The UK and other financial markets are not going to collapse because some Troll says so. To make money you have to borrow, it is how big business work. Since the EU and UK are moving away from cloud storage that is not based in their own country, this is fact so we need a faster Internet connection. But a person who does not have the UK’s interest at heart would gladly see us have no digital infrastructure. So let the UK fail digitally if it continues to allow the main two ISP’s do as they wish – high prices and poor connections speeds.
I beg your pardon, but I am not a paid agent. I am also not a troll. The UK is making progress, but financial turmoil will affect all businesses, especially those burdened with excessive levels of debt. I suggest you acquaint yourself with the situation before claiming someone is is being paid to post comments here – a suggestion which is entirely of your own invention.
There are a large number of providers in the UK and EU that host storage. I suggest you do some background reading.
The UK has a leading digital infrastructure as far as businesses are concerned. That is why many are set up in the UK with a growing demand for data centres that is constrained by a lack of suitable power supplies, not backbone network bandwidth.
The hosting is more likely now due to more UK centrist as the UK is not part of the EU.
Keep on repeating your assumptions, it is well known to anyone in the IT industry how much better off we are. Well, bandwidth is getting better due to a far better ISP’s. The alt nets are responsible for a much better Internet experience a we are far better connected. The members of this website are wondering how come you can post so many times. Keep on repeating your disinformation about the state of the UK digital state. It is not working as we are finally getting a vastly superior Internet experience, if it were not for them, we would fall behind commercially and the companies, old or the better new ISP’s all need capital to start off. This is basic economics. Your making it up as we are fully capable of making and supplying electricity to datacentres AS worldwide all data-centres are placed close to a reliable power supply.
I am not posting assumptions, I basing comments on facts – not urban myth and misinformation.
The AltNets are playing a part in improving broadband services, but they are only minor players. The market is driven and dominated by the big players. Broadband is not the same thing as internet connectivity – the latter is already well established in the UK and it is both a driver and a beneficiary of the work of the big players and the UK’s attractions as a business centre.
“The members of this website are wondering how come you can post so many times.”
That is your assumption. It is also now of your concern, and a form of harassment.
The UK is falling behind, mainly because of the declining competitiveness and the rising levels of public debt. This is not a myth, nor misinformation; the evidence is there if you made the effort.
High debt levels are impacting all the service providers, not just the AltNets/newer ISPs. It clear to those looking at the market that no matter how good some of the AltNets might be, they are not going to get big enough to reach sustainability without a considerable shakeout in the market. If you don’t believe me, take a look at the pronouncements, decisions and actions of the key players over the last 12 to 18 months.
We are not fully capable of powering new Data Centres. If you again make the effoort to do some background checking, the UK has already blocked Data Centre developments in specific areas because of power network constraints. The issue is a top concern as more Data Centres are proposed.
No proof to what you are stating, but we are finally moving forward due to alt nets who provide a good connection that is being used for a stronger digital future. See this websites customer reviews of the main ISP’s as well as trust-pilot UK. That proves how the UK desperately needed a real ISP system when the two main providers have let all of us down. It will lead to a better and stronger UK economy which was being deprived due to the lack of connectivity. Misinformation is what you do.
“That is your assumption. It is also now of your concern, and a form of harassment.”
No it is yours as you need to again provide proof.
The evidence is all around you if you care to look at it.
The are more than two principal ISP providers. Many of those smaller ISPs will have short lifespans.
The AltNets make a minor contribution to the improved connectivity because they lack scale and principally operate at the local level.
@Fara82Light: If you actually combine all the 100 different Altnets across the UK their minor contributions become massive. Naturally there will be consolidations, but at the end of the day us consumers are being benefited from them. Whether the smaller Altnets will get eaten up will still not change the fact that they will have helped many customers bring FTTP to their homes.
If we didn’t have Altnets, Openreach will have continued to milk cash using existing ADSL Copper/FTTC for as long as possible. Virgin Media DOCSIS to FTTP upgrades will also have been delayed. Virgin Media’s Project Mustang or Nexfibre will not have surfaced any time soon.
This progress we are having today is thanks to the Altnets. They are migrating customers away from the old ADSL/FTTC copper and VM DOCSIS network. This is what triggered Openreach Fibre First Programme to emerge as they are losing customers and they are now trying to do something about it.
Here in London where I live in Tower Hamlets Openreach FTTP make up only 24% coverage vs 77% for the Altnets according to thinkbroadband data. We have 3 leaseholders properties here very close to the City of London and all 3 of them are served by Altnets only, no Openreach FTTP. Community Fibre is available in all 3 of them with Hyperoptic in one of them as an overbuild as well.
We waited more than 6 years for Openreach to upgrade our ADSL Exchange Only Line to FTTC in Oct 2019, they could’ve upgraded us to FTTP instead. But it is Community Fibre that went live in December 2022. There are still no Openreach FTTP build plans for my building. Only one of our 3 properties has a plan for December 2026.
VM Nexfibre wayleave has been agreed last year and have went live in several buildings in our estate. Though I am still waiting for them to install their service here in our building.
From a consumer point of view we customers are not too worried about what will happen to individual Altnets. The FTTP cables are inside our homes and if for example Community Fibre were to get consolidated one day there will always be another company that will takeover and our service will continue as usual. It is not like our Fibre cables will remain dead in our homes with no service!
@ Rahul: Collectively, the AltNets make a minor contribution. As the market consolidates, those that sing the praises of the AltNets will have to start engaging with them charging prices at a level that will sustain their business model, not at the current debt-funded discounts.
As the full-fibre roll-out was going to happen anyway.
@Fara82Light: According to https://www.telecoms.com/fibre/altnets-have-changed-the-game-but-what-does-the-next-level-look-like- “Altnets have significantly contributed to the UK’s fibre rollout”
The full-fibre rollout would’ve happened but at a much slower pace. It is quite possible that in many places in the UK including our urban areas of London, we would’ve been left out without Openreach FTTP or VM for another 5-10 years if it isn’t for the Altnets.
Just thinking about 11 years ago when I became a registered Hyperoptic Champion of my building, I struggled to persuade a wayleave agreement to happen because my management refused to sign a wayleave for them. They even refused Openreach FTTP wayleave in 2018, this resulted in our EO Line getting FTTC in 2019 instead! It finally happened with Community Fibre in 2021 and subsequently nexfibre wayleave agreed last year and I am still waiting for them to arrive.
We have never had any plans for Virgin Media here either. Relying on Openreach alone wouldn’t have got the Full Fibre roll out to the level of coverage we have today. Like I said previously, only 24% of London Tower Hamlets (and this includes most of the remaining boroughs) have Openreach FTTP. The rest of the 77% are served by Altnets. See the stats for yourself https://labs.thinkbroadband.com/local/E09000030 Now you can scroll through all the boroughs and see how low the Openreach FTTP coverage really is.
A few buildings in my estate including one of our other leasehold property does not even have FTTC available! Only Altnets or ADSL!
Now if we were to remove Hyperoptic, Community Fibre, G.Network, etc I really can’t imagine Openreach FTTP alone to reach the entire London any time soon. Why do you think the Altnets emerged in the first place? If Openreach were deploying their FTTP rollout at a faster pace 15 years ago instead of giving us FTTC then these Altnets wouldn’t have had the courage to roll out.
If the Altnets in future increase their prices to sustain their business model that’s totally fine for me. I’d much rather have them increase their prices than to be left out waiting for Openreach for another 10-15 years to upgrade us to FTTP. We all know very well that Openreach will not manage to roll out FTTP by December 2026 in all places across the UK! In fact, none of the postcodes in our estate have plans for Openreach FTTP and there’s no guarantee that a wayleave will be agreed in future either!
@ Rahul: The AltNets are minor players.
Facts are, the main (non business as well) ISP’s – people and companies are moving away. That is why disinformation is utterly rife as regards to alt nets. We finally are getting a decent Internet experience and the main ISP’s are hiring people to keep their business model, be it poor non symmetrical speeds to awful customer service. A business get better for alt nets, they will gain more
There is no misinformation about players in the ISP and AltNet sector other than by those who are spreading invented realities.
Who is doing that.. the main ISP’s are desperate to get back the “good old days” where we had a poor Internet experience.. this is disinformation. “invented realities”… that does not make sense. Who is paid off. Your forum ID, anyone do a Internet search and you will find this Troll in action.
That is an agenda myth you are trying to propagate.
Your clearly trying to keep the UK backwards, no high speed Internet… this is your paid off agenda.
We re finally getting FTTP and the country is reaping its benefits.
High-speed internet already existed before most of the AltNets even got off the ground.
The biggest driver of full-fibre and FTTP roll-out is BT Openwave.
It would not have taken off if BT were bullied by government who stopped research by electronics companies and fibre manufacturers.
So, an admission now!! We in the UK are so far behind most of the developed nations down to the main ISP’s dragging their feet. Until the alt nets arrived there was minimal FTTP. Now the main ISP’s are in panic mode. Now we have vastly better speeds, no thanks to the big operators.
Again, more invented narrative that bears no relation to reality.
Again avoiding facts… seems like your “earning potential” being a paid off agent again has been exposed. Getting far better symmetrical speeds is something the BT fan boys do not want for the UK. It is a documented fact that we were meant to have FTTP across the country, but the government held it back and shut own fibre production.
Stating that I am a paid contributor is false. You have no evidence for this. I have already stated that I am not a paid contributor. To persist with this assertion is a matter of libel.
Your “fan boys” claim is just churlish. BT is rolling out the capability for symmetrical services, but that takes time on such a large network. BT’s priority is to cover as much of the population as soon as possible, so it must target its investment towards those objectives.
“Documented fact” – is another constructed narrative. It is not based on fact, only on what usual suspects want to be true.
Too much spam/trolling in these comments now. Closed.