Superloop Raises FY26 EBITDA Guidance and Launches Ambitious Supercharge29 Growth Strategy

Upgraded FY26 Guidance Reflects Strong Momentum and Acquisition

Superloop Limited (ASX:SLC) has lifted its FY26 underlying EBITDA guidance to a range of $118 million to $122 million, marking a 28% to 32% increase over FY25’s $92.2 million. The upgrade, announced alongside its Investor Day presentation, reflects robust second-half trading and the recent completion of the $165 million Lightning Broadband acquisition on 29 May 2026, which contributed approximately $700,000 to FY26 EBITDA. Capital expenditure guidance has also increased modestly to $34 million-$37 million, excluding an IRU renewal.

Lightning Broadband Acquisition Expands Superloop’s FTTP Reach

The acquisition of Lightning Broadband significantly boosts Superloop’s fibre-to-the-premises (FTTP) footprint, adding around 56,000 secured lots across six Australian states and territories. This deal, funded through existing cash and debt facilities, keeps net debt at a manageable ~1.4x EBITDA and comes with regulatory approval of a Joint Functional Separation Undertaking from the ACCC, supporting open-access wholesale services. The acquisition is expected to be EPS accretive in FY27 and adds to Superloop’s Smart Communities expansion.

To capitalise on this expanded infrastructure, Superloop has launched a new wholesale FTTP brand, neoloop, offering integrated services to retail providers across all Superloop-owned FTTP networks. This move positions Superloop to better serve wholesale customers and scale its network offerings.

Supercharge29 Strategy Targets Industry-Leading Growth

At Investor Day, management unveiled the Supercharge29 strategy, a three-year plan spanning FY27 to FY29 aimed at driving the next phase of growth, earnings expansion, and shareholder value creation. The strategy targets a compound annual growth rate (CAGR) of approximately 15% for group revenue, aiming to surpass $1 billion by FY29, alongside a 20% CAGR for underlying EBITDA to exceed $200 million.

Supercharge29 rests on five pillars: transforming customer experiences, scaling Smart Communities, profitable consumer broadband growth, AI-enabled operating leverage, and accretive M&A. The plan emphasises organic growth complemented by disciplined capital management, with a focus on maintaining net debt below 2.5x EBITDA and achieving 80%-90% cash conversion of underlying EBITDA.

Smart Communities and AI Drive Sustainable Earnings

Superloop’s Smart Communities segment, which delivers fibre and managed connectivity to new housing developments, student accommodation, and retirement living, is a core growth engine. The company aims to contract 25,000 new lots annually by FY29, with a current contracted book of about 98,000 lots. Financial metrics for this segment include a targeted blended monthly ARPU of $50-$55 by FY29 and an IRR exceeding 25% on capital deployed.

Artificial intelligence is also a critical enabler, with Superloop embedding AI across customer experience, network operations, and sales optimisation. Digital agents and AI-powered automation have already reduced manual interventions and improved customer support efficiency, with notable features like AI-driven order flow and predictive marketing delivering visible profit and loss impact.

Consumer and Wholesale Segments Show Robust Growth

Superloop’s consumer base continues to expand rapidly, with 28,000 net new customers added in Q3 and 86,000 year-to-date as of 30 April 2026, pushing the total consumer customers to over 470,000. The company is approaching a 5% market share in the NBN broadband segment by FY26 end, with a growing preference for high-speed plans and fibre technologies.

Wholesale also remains a strong contributor, adding 35,000 net new customers in Q3 and 64,000 year-to-date. The company maintains a focus on supporting key wholesale partners such as Origin Energy, which has grown its broadband subscribers to over 250,000, benefiting from Superloop’s dedicated resources and AI-driven operational enhancements.

Capital Discipline and Growth Ambitions in Focus

Superloop’s capital management strategy aims to balance growth investments with financial prudence. The company plans to maintain net debt leverage below 2.5x EBITDA while generating gross operating cash flow exceeding $160 million by FY29. This cash flow will support Smart Communities expansion, disciplined capex, and accretive M&A activity, with capital returns such as buy-backs or dividends under review as cash generation increases.

Underlying EBITDA margins are expected to rise toward 20% by FY29, driven by operating leverage from organic growth and efficiency gains, particularly through AI and digital transformation.