2022
Concise Financial Report
1
2 Bendigo Telco 2022 Concise Financial Report
Contents
Chairman and Managing Director's Report | 4 |
2022 Highlights and Company Statistics | 6 |
Strategic Partnerships and Innovation | 8 |
Business Transformation | 10 |
Community Support | 12 |
Products and Services | 14 |
Financial Report | 16 |
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Chairman and Managing Director's Report
Dear Shareholders
On behalf of the Board and the Executive team we thank you for your ongoing support and commitment during the past year. Our business continues to support the delivery of our customer success which is only made possible by the commitment of you, our shareholders, our customers, and our team of dedicated people. Our vision to be our customers' preferred technology partner continues to guide our strategy and the investments we are making in your business.
Whilst our communities and economy are adapting to many changes, some of which were thrust upon us as a result of the COVID-19 pandemic,
we continue to focus on delivering on the needs of our customers - which are no different to the fundamental principles of why your business was formed over two decades ago.
Last year we signalled the need for your business to enhance its strategy, its investments, and its priorities to ensure we are in a position to deal with ever-changing telecommunications market conditions. As a result, we have been diversifying into providing a broader array of technology-based services to our customers and communities.
The level of demand from customers is confirming that our vision to be their preferred technology partner is sound.
Our business was formed from a need to address a market gap in the delivery of voice and network capabilities.
As demand for technology within businesses and digitised services continues to underpin customer and community needs, our breadth of services will continue to grow. We will continue to work with industry partners and markets to address the gaps and deliver upon the needs for our customers.
With the introduction of industry leading technology changes, loss of revenues from our traditional fixed line business, new technologies and increased use of digital solutions across all businesses, we have been
1999 | 2005 | 2009 |
The Beginning | Stock Exchange Listing | Metro Area Network |
Bendigo Community Telco established | Bendigo Community Telco | Completion of a fibre-ring |
by a consortium of local businesses. | listed on the National Stock | operating in Bendigo. |
Exchange. | ||
2003 | 2006 | 2011 | ||
Our First Data Centre | Building Our Fibre Network | First MPLS VPN | ||
Central Victoria's Innovation | Private fibre assests installed | Awarded the Bendigo Bank | ||
Park officially opens. Bendigo | throughout Bendigo. | BEN3 network contract. | ||
Data Centre begins operating. | The first MPLS VPN deployed. |
Bendigo Telco 2022 Concise Financial Report
implementing services to support workplace productivity, adoption of cloud and consultancy services.
During the year we have made significant investment in our people, our customer connections and our products and services, along with the continued streamlining of our service model, as a result of our active engagement with existing and new customers and communities.
As expected, we experienced a reduction in revenues in some of our legacy products and services but we are confident we can supply quality products and solutions to our customer base across our individual markets.
Changes in the availability of technology through the adoption of cloud-based services and strategic partnering has enabled our business to modernise a number of traditional voice-based products and services whilst bringing other new products to market. In addition to new products, we have also implemented an industry leading service management platform, Service Now, that will boost our service capabilities across the entire group.
This investment in service management will underpin all future developments and automation in support of servicing our customers.
Financial Results
This year's results reflect the continued changes in the telecommunications market through evolution in technology and pricing changes as well as the ongoing investment we are making in modernising our product set.
The business has delivered a NPAT of $252,000 with revenue of $26.59m and a reported EBITDA of $2.86m.
These results have provided the Board with the opportunity to declare a fully franked dividend of 2.0 cents for the final half year, bringing the total dividends paid from the FY22 trading year to 4.0 cents.
2011 | 2014 | |
Private Cloud Enablement | First NBN Connection | |
vSphere Cloud Infrastructure | Bendigo Telco becomes one | |
deployed at Bendigo Data Centre. | of the first RSPs to onboard | |
NBN. Wheelers Hill Bendigo | ||
Bank branch brought online. | ||
2022 Your Preferred Technology Partner
Acquisition of MGR-IT and Hi-Tech businesses. Expansion of Services Teams, building on the strength of our existing "connections" businesses, as a single technology partner for our customers.
2014 | 2020 | |
Expansion | New Strategy | |
New offices open | "Next Generation Bendigo Telco" | |
in Ballarat, Geelong | strategy launched focussing on a whole | |
and Tasmania. | of business transformation and new | |
operating model to position the business | ||
and our customers for success. |
2021
100GIG Bendigo
Previously only available in the world's biggest cities, businesses in Bendigo's city centre are invited to join the Bendigo and Adelaide Bank, City of Greater Bendigo, Bendigo Health and Coliban Water in accessing Bendigo Telco's 100 gigabit data link.
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Disclaimer
Bendigo Telco Ltd. published this content on 16 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2022 07:31:02 UTC.