In the summer of 2024, Netomnia, YouFibre, and Brsk announced a merger. This decision came as various independent broadband providers in the UK struggled amid tough economic conditions. The merger paid off; in their 2024 year-end results, the new combined company emerged as the UK’s second-largest alternative network provider, or altnet.
Netomnia Group described 2024 as a year of remarkable growth and collaboration. They scaled up their services significantly, connecting thousands of homes and businesses across the UK. By year-end, they reported that 2.08 million premises were serviceable, having added 1.27 million throughout the year, including 255,000 in the final quarter alone. They connected 238,000 premises over the year, with 171,000 coming in just the last twelve months and 48,000 in Q4.
Their rapid customer growth led to impressive financial results, with revenues hitting £38.6 million—up 321% from the previous year. Adjusted EBITDA reached £29.6 million, marking a 13% increase. The take-up rate rose to 11.5%, climbing 38% year-on-year, though net debt also increased to £531 million, a 223% jump from the end of 2023. CEO Jeremy Chelot emphasized the company’s vision of building a future-proof fiber network that could support the most demanding internet needs.
“Reaching two million serviceable premises is a pivotal milestone for us,” Chelot stated. “The merger of Netomnia, YouFibre, and Brsk is almost complete, creating a robust and efficient retail and wholesale platform. We’re on track to hit three million serviceable premises by the end of 2025.”
Meanwhile, CityFibre—currently the largest independent full-fiber network in the UK—has started connecting over 50,000 homes and businesses in hard-to-reach areas of Kent to high-speed, full-fiber broadband, part of the government’s Project Gigabit initiative.
Launched in 2021, the £5 billion Project Gigabit program aims to aid the UK in recovering from the pandemic while boosting high-growth sectors like tech and creative industries. Its goal is to target areas with inadequate connections, ensuring that communities in these “hard-to-reach” locations gain access to fast internet, which can fuel economic growth.
CityFibre’s rollout in Kent employs XGS-PON technology, capable of delivering speeds up to 10Gbps. This expansion was enabled by a £112 million contract under the Project Gigabit scheme and represents the final contract among nine secured by CityFibre. They’ve already connected customers in other areas, including Cambridge, Norfolk, and Suffolk.