Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.

BigAir Group exceeds its revenue forecasts for the Full Year ending 30 June 2006

  • 14 September, 2006 00:00

<p>The Directors of BigAir Group Ltd (ASX: BGL) have announced the maiden result as a publicly listed company. The Directors are pleased to announce that its revenues increased by 1132% in the Full Year ending June 30 2006. Consolidated revenue for 2005-06 was $6.9 million which exceeded the $6.5 million guidance provided to the market in May of this year, and Gross Profit increased by 419% to $2 million.</p>
<p>BigAir Financial and Operational Highlights include:
-Sales Revenue Up by 1132% to $6.9 million
-Gross Profit Up by 419% to $2 million
-Subscriber numbers Up by 150%</p>
<p>A major component of this revenue growth was related to the acquisition of the Veritel Wireless business during the year which was acquired as at 1st July 2005. The Veritel business unit revenues were included in the prospectus in the Pro forma consolidated Full Year revenues for 2004-05. The comparison between the Pro forma Full Year ending June 30 2005 and the Full Year ending June 30 2006 shows strong growth and improving EBITDA:
-Sales Revenue Up by 112% from $3.2 million to $6.9 million
-EBITDA loss improved by 15% from $1.25 million to $1.07 million</p>
<p>The EBITDA loss as a percentage of Revenue was reduced from 39% in 2004-05 to just 15% in 2005-06 despite a large increase in operating costs relating to the company’s recent transition to a listed company on the ASX, and the successful integration of a number of acquisitions made during the year.</p>
<p>The public listing of BigAir Group in April 2006 was a major step forward for the company in the pursuit of its vision to become one of the leading providers of wireless broadband services in Australia. Net proceeds from the IPO capital raising amounted to $6.3 million. The company held cash balances in excess of $5 million as at 30 June 2006, after investing more than $1.5 million during the year on capital equipment and acquisitions.</p>
<p>During 2005-06, the company undertook an ambitious program including four acquisitions, which were all successfully integrated into the BigAir business. The company also relocated to expanded premises and successfully completed its share market listing on the ASX, which also resulted in significant once off costs.</p>
<p>With a substantially enhanced customer base, the company strengthened its position in key market segments and opened up new market opportunities. As a result of these strategic initiatives, BigAir’s scale and service capabilities were considerably increased. With subscriber numbers increasing by 150% during the year, to more than 10,000 as at July 2006, the company is well on the way towards achieving its vision.</p>
<p>BigAir Group CEO, Mr Jason Ashton in commenting on the result said “Having successfully bedded down four acquisitions and expanded our customer base by 150% over the past year, the company is exceptionally well positioned to build a major presence in the wireless broadband market”.</p>
<p>Wireless broadband is one of the fastest growing segments of the telecommunications industry and BigAir has put in place a very powerful value proposition that provides business, professional and retail customers with high speed, low cost access. BigAir is the only Australian wireless provider that offers both high speed business-grade fixed wireless services and mobile wireless data services. Since BigAir controls its own network, it owns the critical “last mile” customer connection and is wholly independent of Telstra’s network infrastructure and associated costs.</p>
<p>In the current year the company expects to boost its penetration of the Sydney commercial market for high speed broadband, further develop the residential broadband opportunity provided by its WHome business unit, review the roll-out opportunities for its wireless network infrastructure and business model in other capital cities and to consider further targeted acquisitions. As a result of these growth strategies, the company looks forward to further substantial customer and revenue growth in 2006-07.</p>

Most Popular

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Latest Articles


PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill


I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?