Amaysim crosses 1 million mobile subscribers

Amaysim has started making ground in the broadband market, with its subscriber base hitting 7000 just three months after launch.

The challenger telco announced it would acquire AusBBS for $4 million last year to speed up its entry into the NBN market, and soft launched its first broadband product in May.

The company said it had 5000 broadband subscribers at the end of the 2017 financial year on 30 June, including 1000 that signed up for Amaysim NBN, but that number has increased to 7000 as of today. The broadband business also pulled in $2.5 million in revenue for the year.

Overall, Amaysim reported revenue of $326.7 million, up 29 percent from last year, with statutory EBITDA up 35 percent to $33.8 million and a net profit of $25.2 million.

The company's traditional mobile business cracked 1 million subscribers for the first time, up from 966,000 last year. Still the biggest earner, the mobile business raked in $278.5 million, up 10 percent.

Along with broadband, Amaysim also branched out into energy retail by acquiring Click Energy Group in April for $120 million. The energy business brought in $45.7 million last financial year.

Amaysim has previously detailed its strategy to cross-sell broadband and energy bundles to existing mobile customers.

"While maintaining momentum in our core mobile business, we made significant progress diversifying into new product areas to capture a greater share of household wallet," chief executive Julian Ogrin said.

"The successful execution of our strategy saw the group launch Amaysim branded NBN plans; launch the Vaya online device store; and add energy to our stable through the acquisition of Click. We are rapidly working on bringing devices and energy under our core Amaysim brand.

"Alongside our diversification efforts, we have continued to improve and leverage our technology platforms to create an even richer Amaysim customer experience, and to support organic and profitable subscriber growth. Our innovations included an industry-leading single sign-on experience across Amaysim branded mobile and NBN."