Rural broadband provider Imagine posts €50m loss amid move to scale back growth plans

The company has been reportedly struggling amid competition from the State subsidised rollout of the National Broadband Plan. 

Rural broadband provider Imagine has posted a nearly €50m loss for the 2023 financial year as it is forced to scale back its growth plans in light of the rollout of the National Broadband Plan and a dynamic market environment.

According to the company’s latest financial statement, it posted turnover of just under €32.6m during 2023 with a gross profit of €16.4m. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) came to €3.6m.