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GlobalConnect continues to demonstrate growth in revenue and earnings in 2021

by jcp

GlobalConnect Group continued its growth journey in 2021, while expanding into new markets and finetuning operations across the organization.

GlobalConnect continued the momentum in the fiber-to-the-home (FTTH) rollout and saw an increased appetite for connectivity solutions from enterprises and public institutions in 2021. The group’s revenue amounted to EUR 609m in 2021, an organic increase of 2.5% compared to previous year. Profitability also increased by 9.3% as the adjusted EBITDA improved to EUR 307m (50.4%) from EUR 272m (47.2%) the year before.

“I’m proud of how we managed to keep our commercial momentum going and improve our performance on all levels, while facing yet another year of Covid-19-related shutdowns across society. This, while expanding into two new markets offering FTTH and closing the strategically important acquisition of Telenor Sweden’s communications operator Open Universe and its SDU fiber assets. We grew our knowhow and diversified our enterprise offering while adding hundreds of thousands of connected homes to our fiber universe, ensuring a solid foundation from which we can continue to connect all parts of society for many years to come,” says Martin Lippert, CEO of GlobalConnect Group.

Increased demand for capacity and robust broadband across all markets

As most countries in Northern Europe went in and out of lockdown in 2021 due to Covid-19, GlobalConnect continued to cater to the increased demand and necessity for secure and robust broadband services. In 2021, GlobalConnect connected 64,000 new homes, while launching its FTTH HomeNet brand in Northern Germany as well as exploring the untapped potential in the Finnish FTTH market. Today, GlobalConnect connects 650,000 households, making the Nordic connectivity company one of the largest players in the region.

Increased demand for data capacity and new business opportunities from international carriers and global tech giants, paved the way for one of the largest fiber investments in the Nordics in recent years, as GlobalConnect started building a new fiber backbone route from northern Sweden to Berlin in 2021.Today, GlobalConnect’s own network covers more than 100,000 trenched km fiber across Northern Europe.

Cyber threats and one-stop-shop offering paved the way for new deals in 2021

As cyberattacks against business increased by 50% in 2021, IT security become an increasingly hot topic among enterprises and public intuitions. The enhanced awareness sparked an interest in GlobalConnect’s integrated one-stop-shop connectivity solutions with advanced security features. This resulted in signing several key deals during 2021, such as the public sector agreement for the Danish state and Danish regions (SKI), Norwegian retail giant POWER as well as the Swedish Church.

This year’s annual report also includes GlobalConnect’s 2021 Sustainability report, summarizing the group’s efforts and results for the year within the field of sustainability. Read the full annual report here: 

EUR m 2021 2020
Revenue and other income 609 577
Organic revenue growth (%) 2,5% 7,4%
Adjusted EBITDA 307 272
Adjusted EBITDA margin (%) 50,4% 47,2%
Organic adjusted EBITDA growth (%) 9,3% 14,7%
Total CAPEX 479 487


Kamran Alemdar

Group CMO, Marketing & Communications


About GlobalConnect Group

GlobalConnect Group is one of the leading digital infrastructure and data communication providers in Northern Europe. The Group delivers end-to-end solutions across its own infrastructure consisting of 100,000 kilometers fiber network and 34,500 sqm data center space in Denmark, Norway, Sweden, Germany and Finland. GlobalConnect Group employs approximately 1,700 people, has 30,000 B2B customers and connects more than 650,000 private households. GlobalConnect Group is the result of 2019 and 2020 mergers between Broadnet, GlobalConnect and IP-Only. In the FTTH segment, the group operates under the brands IP-Only, HomeNet, Onefiber and Open Universe, while operating as GlobalConnect in the B2B segment across all its markets. GlobalConnect Group is owned by global investment organization EQT, one of Europe’s largest infrastructure investors.

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