SWP - Swoop Holdings

No thread yet on Robo 3D Limited so I thought I'd get one going.

Some love finally for RBO today after announcing record half yearly revenue of $4.2 million vs. $1.8 million for prior half year, an increase of 234%. Gross margin improvement from 21% to 34% and record cash receipts of $2.2 million for December 2017 quarter.

Share price is up 22.86% to 4.3c so far today. It's the first ray of sunshine for RBO in a long time. Back in early 2016 it was trading around 20c, but it has fallen pretty steadily since then. Looks like this could be the beginning of a turnaround.

On December 7th, 2018, Robo 3D Limited (RBO) changed its name and ASX code to STEMify Limited (SF1).

On May 26th, 2021, Stemify Limited (SF1) changed its name and ASX code to Swoop Holdings Limited (SWP).

Swoop Holdings Ltd (SWP) listed today after raising $20 million at 50c a share in a heavily oversubscribed IPO. The backdoor listing has seen immediate gain with a closing price of $1.25 a share.

Swoop is an Australian proprietary company, focused on a fixed wireless and wholesale network infrastructure carrier with a high performance national and international network that is an alternative provider to the large carriers for delivering services in Australia. SWP is based in both NSW and Victoria, with offices in Sydney, Gosford and Warragul. SWP also provides services over the NBN fixed line and fixed wireless networks nationally to residential and SME customers who cannot connect to the Swoop fixed wireless network.

SWP operates under 3 brands; Swoop Wholesale, Swoop Business and Swoop Broadband.
The Company has completed the acquisition of:
1. 100% of the shares in Cirrus Communications Pty Ltd (Swoop);
2. 58.90% of the issued capital in N1 Telecommunications Pty Ltd (NodeOne); and
3. 100% of the issued capital of Fiwi Pty Ltd which in turn holds the remaining 41.10% of the issued capital of NodeOne,

Swoop operates one of the country's largest fixed wireless networks with 246 towers spread across all states and has plans to build more towers and gobble up rival operators. The Chairman, James Spenceley, said Swoop would look to play to its strengths in outer suburban and regional areas rather than well serviced and highly competitive inner city markets dominated by Telstra, Optus, Vocus and TPG.

Mr Spenceley said there could be a round of consolidation in the sector similar to the period late in the 2000s and early in the 2010s when the likes of Vocus, TPG and iiNet were making acquisitions. He said some small businesses had grown to a scale that made them attractive takeover targets.

Dona Ferentes said:

.... The Chairman, James Spenceley, said Swoop would look to play to its strengths in outer suburban and regional areas rather than well serviced and highly competitive inner city markets dominated by Telstra, Optus, Vocus and TPG.

Mr Spenceley said there could be a round of consolidation in the sector similar to the period late in the 2000s and early in the 2010s ... He said some small businesses had grown to a scale that made them attractive takeover targets.

Click to expand...

true to form .... must be a few of these entities out there.

Swoop is ... to acquire Beam Internet, the largest privately owned fixed wireless network in regional South Australia, for a total enterprise value of $7.2 million.

Beam Internet offers fast and affordable high speed Wireless Broadband on its own network of over 60 towers and masts and has more than 3,600 on-net residential and SME services in operation. The Beam network covers the Fleurieu Peninsula, Barossa, Kangaroo Island, Mid North, Murray Bridge and South East regions in South Australia, and also parts of the West Victoria and Mallee regions in regional Victoria.

Click to expand...

and another tie up as a preferred NBN Retail Service Provider

Swoop has secured a 5 year contract (via its wholly owned subsidiary Node1 Pty Ltd , known as NodeOne) worth over $5m with Orro Group to provide NBN Enterprise Ethernet services across Western Australia.

This solution will bring high speed fibre connectivity to over 150 locations all over WA utilising NodeOne direct connectivity to all 14 NBN Points of Interconnect (POIs) across the State

with its aspirational aim of building the next large scale National Telecommunications company

the SWP pathway is recurring revenue, acquisitions and integrations... market has rewarded the growth numbers and SP has moved from below $1.00 in July to close at $2.31

FY 22 Capex

• Forecast FY22 Capex in line with prior year
• Made up of 72% Growth Capex to deliver new revenues focused on: Towers in New Regions, Speed and product improvements, Connecting Customers

Acquisitions

• Scale & Acquisition Synergies beginning in FY22 and full benefits into FY23
• Significant larger acquisition opportunity set post listing
• Majority of vendors are looking for predominantly scrip-based transactions and interested to join the Swoop journey
• Progressing acquisition debt facility
• Current pipeline valuations are materially EV/EBITDA accretive
• Hired experienced Systems & Integration leader

Swoop to Acquire Newcastle-based Telco Countrytell

Transaction highlights
• Swoop has entered into an agreement to acquire 100% of the shares of Newcastle-based Countrytell Holdings Pty Ltd.
• Countrytell operates:
o a fixed wireless network comprising over 30 towers;
o one of Newcastle’s largest datacentres; and
o a recently completed CBD dark fibre network.
• The Purchase price is $4.2 million, comprising $2.1 million in cash (plus a payment representing the net cash as at the effective date for the acquisition) and $2.1 million in Swoop shares to be issued at the 30 day VWAP prior to Completion.
• The purchase price represents a 4.2 multiple of vendors’ expected FY22 EBITDA for Countrytell.
• Under the agreement, $630,000 of the cash consideration will be held back for 12 months for any potential claims and adjustments.
• The Swoop shares will be subject to 12 months escrow.
• The acquisition will be funded from existing cash reserves and is expected to complete by 31 October 2021

Swooped from a great height, $2.40, on elevated expectations to skim the terrain at 50c; now gaining a bit of altitude to hit 67c

Quarterly out:
“This quarter rounds out our first full year as an ASX listed company, and the first time we can show a previous corresponding period comparison to demonstrate the great year it has been for our company.

We have seen strong growth over the year in our customer receipts with a 123% increase; growing from $6.2m in Q4FY21 to $13.9m in Q4FY22. This alongside a $6.43m increase in net
operating cashflow improving from ($3.5m) in Q4FY21 to $3.0m in Q4FY22 demonstrates the quality assets we are building.

The growth in customer receipts over the year shows the high demand for reliable, locally supported internet services in a post pandemic hybrid working environment, that remains
resistant to pressures from increases in the cost of living.

A further driver in the improvement in net operating position is our continued focus on managing costs and cashflow, whilst also not seeing (or expecting) an increase in our COGS
from inflation but rather increased efficiencies as our acquisition synergies start to flow through.

It is expected from these cashflows and our unaudited results that our revenues will remain within our previously stated guidance of $50.0m-$53.0m, however we are expecting that we will be exceeding our EBITDA guidance of $12.0m- $12.5m

SWP received a speeding ticket .... response was the usual No, N/A, No and Not Applicable, .... maybe something's happening in small telco land.



No real volume, maybe just a new tax year ?

19 July 2024

Swoop Completes Divestment of Wholesale Voice Business

Transaction Highlights:

• Swoop has completed the divestment of its wholesale voice business to Pivotel.
• $8 million was paid by Pivotel in cash on completion. An additional amount of $1m has been retained by Pivotel and will be adjusted based on performance of the business for 9 months post completion.
• The purchase price represents a 5.2 and 4.5 times multiple of the business units’ FY23 and FY24 normalised EBITDA.
• The divestment proceeds will provide balance sheet flexibility as well as funding growth across Swoop’s core residential, SMB, data and voice businesses.
• As part of the transaction, Swoop has entered into a 5 year contract with Pivotel to maintain its wholesale rates and cost structure.

Swoop Holdings Limited (ASX:SWP) (Swoop) refers to its announcement of 11 June 2024 and is pleased to announce that the conditions precedent under the agreement have been met and the transaction to divest the entire issued share capital of Voicehub Group Pty Ltd and Harbourtel Pty Ltd to Pivotel Group Pty Ltd has been completed.

This announcement has been authorised for release by the Board of Swoop Holdings Limited

i do not hold this share

$0.18 now



(second go, tried earlier in Nov)
Swoop makes market takeover offer to acquire all of the ordinary shares of Vonex Limited (ASX:VN8) that it does not currently own as announced to ASX on 18 October 2024. The bidder’s statement with respect to the Offer has been separately lodged today with ASX.

Highlights
• Under the Offer, a wholly owned subsidiary of Swoop (Swoop Telecommunications Pty Ltd ACN
109 931 731) is offering to acquire all of the Vonex Shares that it does not currently own.
• Swoop is offering 1 fully paid Swoop ordinary share (Swoop Share) for every 3.9 Vonex Shares.
• The implied offer price is $0.050 per Vonex Share (based on Swoop’s 5-day VWAP to 21 November 2024 of approximately $0.193).
• The implied offer price represents:
o a premium of 14% to the current Maxo Telecommunications Pty Limited’s on-market cash offer of $0.044 announced on 23 October 2024;
o a premium of 178% to the closing price of Vonex Shares of $0.018 cents on 24 June 2024, being the last closing price prior to the announcement of the MaxoTel Scheme (Undisturbed Share Price Date); and
o a premium of 11% to the closing price of Vonex Shares on 21 November 2024 of
$0.045.
• Swoop currently holds a relevant interest in 19.9% of Vonex Shares and has voted against the scheme of arrangement proposed by MaxoTel.

MaxoTel has a cash offer for VN8 at $0.044 which has been accepted.