Technetix sees record growth in North America
March 20, 2024
Broadband infrastructure specialist, Technetix, has announced a record year of growth and increased momentum in sales in the North American market, with the release of the company’s results for 2023.With an increase in revenue of 33 per cent to $157 million (€144.8m) – compared to $118 million in 2022, this strong growth comes at a time of increased opportunity in the broadband infrastructure market. The company’s EBITDA increased by $12 million to $20 million (2022: $8 million) and Americas revenue was up 282 per cent to $80 million. This is underpinned by a financially resilient balance sheet with net debt reducing to $2.2 million.
Technetix attributes the growth to a robust pipeline of R&D products and services coming to market, resulting in a number of contract wins from tier-one operator network upgrades in North America. In addition, the successful integration of the Lindsay Broadband acquisition in the Americas and the development of FTTx across Europe have driven more opportunities for Technetix.Paul Broadhurst, President, CEO and Founder, said: “We’re a steadfast and stable partner to our customers as they make broadband infrastructure investment decisions, and our team are immensely proud of our reliable track record of delivery. We continue listening to our customers to deliver the critical infrastructure solutions they need to optimise their operations and realise their ambitions – which in turn facilitates our own ongoing success. We confidently expect to continue our product leadership and significant revenue growth into 2024.”