{"id":28632,"date":"2021-09-23T10:00:40","date_gmt":"2021-09-23T09:00:40","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=28632"},"modified":"2021-09-23T10:06:10","modified_gmt":"2021-09-23T09:06:10","slug":"isp-gigaclear-finished-2020-with-175000-uk-full-fibre-homes","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2021\/09\/isp-gigaclear-finished-2020-with-175000-uk-full-fibre-homes.html","title":{"rendered":"ISP Gigaclear Finished 2020 with 175,000 UK Full Fibre Homes"},"content":{"rendered":"

Rural broadband ISP Gigaclear<\/a>, which aims to build their gigabit Fibre-to-the-Premises (FTTP<\/a>) network to cover 500,000 UK properties by 2023, has published their annual accounts to 31st December 2020 and revealed that their network passes 175,000 properties (up 46K since 2019), as well as 36,000 customers (up 49%).<\/p>\n

We should point out that the provider’s network passed figure of 175,000 doesn\u2019t tell the whole story, since the number of homes that were actually “ready for service<\/em>” (i.e. customers could take a live service) at the end of last year tends to trail behind this a little on 145,000 (up 46,000 over 2019).<\/p>\n

NOTE:<\/strong> Gigaclear<\/a> recently hit 230,000 premises passed, but this isn’t reflected above as the new report doesn’t consider progress made in 2021 (that’s for next year).<\/div>\n

Broadly speaking, Gigaclear<\/a>’s rate of build has clearly improved over the prior report (i.e. in 2019 they added 36,000 premises to their network vs 46,000 in 2020) and, following last year’s debt financing raise of \u00a3525m<\/strong> (here<\/a>), we fully expect that trend to continue when the next annual report is released.<\/p>\n

The ISP now has a presence in a total of 450 rural communities, across 22 counties of England (South West, Midlands and the South East) and they ended last year with 439 employees (up from 337 in 2019). We’ve summarised some of the operator’s other key figures below.<\/p>\n

Highlights of the Annual Report (Results to Dec 2020)<\/strong><\/span><\/p>\n

\u27a4 The network passed 175,000 properties at year-end (up 46,000 over 2019).<\/p>\n

\u27a4 <\/b>145,000 ready for service homes (up 47,900 over 2019).<\/p>\n

\u27a4 <\/b>In H1 2020 Gigaclear built a monthly average of 3,000 properties (down slightly from 3,100 in H2 2019), but this hit 4,800 in H2 2020.<\/p>\n

\u27a4 <\/b>November 2020 was a record-breaking month for the operator, which built to 6,500 homes (up from 2,800 last year) and sold to 2,100 customers (up from 830 last year).<\/p>\n

\u27a4 Total employees 439 (up from 337 in 2019).<\/p>\n

\u27a4 <\/b>130 new communities entered build in 2020 (up from 90 in 2019).<\/p>\n

\u27a4 <\/b>Grew customer based by 49%, adding 12,000 (net) in the year (total of 36,000).<\/p>\n

\u27a4 <\/b>Revenue increased by 25% to \u00a314.1m (up from \u00a311.3m in 2019).<\/p>\n

\u27a4 <\/b>Losses for the year hit \u00a346.6m (\u00a333.8m in 2019).<\/p>\n

\u27a4 <\/b>Operating expenses for the year were \u00a345.2m (\u00a340.9m in 2019).<\/p>\n

\u27a4 <\/b>Gross debt of \u00a3176.5m (\u00a329m in 2019) – mostly reflecting network construction costs (payback on building FTTP<\/a> can take many years).<\/p>\n

\u27a4 <\/b>Cash in the bank of \u00a33.8m (\u00a32.6m in 2019).<\/p><\/blockquote>\n

Broadly speaking, the results represent somewhat of a turnaround after the ISP went through a period of turmoil during 2018 and 2019, which was mostly due to problems caused by the previous management (new owners Infracapital had to correct this). In some areas, that resulted in the rollout being delayed by 1-2 years and the loss of their state aid supported contract in Devon and Somerset (here<\/a>).<\/p>\n

But clearly the situation is now improving and their pace of build is ramping-up nicely, which is all the more impressive given the COVID-19<\/strong> disruption experienced in 2020. However, much like other ISPs that deploy FTTP<\/a> into remote areas, Gigaclear’s biggest challenge going forward will be the rise in competition from rival operators, as well as the not unrelated difficulty of getting a payback on deploying into such disproportionately expensive areas (operators often work on payback expectations of 10-15 years).<\/p>\n","protected":false},"excerpt":{"rendered":"

Rural broadband ISP Gigaclear, which aims to build their gigabit Fibre-to-the-Premises (FTTP) network to cover 500,000 UK properties by 2023, has published their annual accounts to 31st December 2020 and revealed that their network passes 175,000 properties (up 46K since 2019), as well as 36,000 customers (up 49%).<\/p>\n","protected":false},"author":1,"featured_media":28633,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[472,56,416,34],"class_list":["post-28632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-business","tag-fttp","tag-gigaclear","tag-statistics"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"\nISP Gigaclear Finished 2020 with 175,000 UK Full Fibre Homes - ISPreview UK<\/title>\n<meta name=\"description\" content=\"Rural broadband ISP Gigaclear, which aims to build their gigabit Fibre-to-the-Premises (FTTP) network to cover 500,000 UK properties by 2023, has\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2021\/09\/isp-gigaclear-finished-2020-with-175000-uk-full-fibre-homes.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ISP Gigaclear Finished 2020 with 175,000 UK Full Fibre Homes - 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