STL, a leading optical and digital solutions company shared its progress and achievements in one of its largest markets - the US, along with the company’s annual results for FY23.
In the US, the company ably supported the region’s broadband ambitions and closed the financial year with deep engagements with top service providers.
Last fiscal, the company set out to build a manufacturing base in the US and started commercial operations in its greenfield optical fiber cable facility in South Carolina. This facility produces high-end, specialty optical solutions like light-weight, crush-resistant, high fiber density and compact cables,using the highest sustainability standards.
America optical fiber cables in shorter than market lead times has led the company to partner with multiple leading regional and national service providers. With STL’s optical offerings, these service providers will connect more than ~3 Mn households across the country.
At an overall company level, STL reported record revenues of USD 863 Mn, growing 27% over the previous year along with an impressive 29% and 51% growth in EBITDA and PAT respectively.*Last year, STL had shared its strategic intent to drive focused growth which it followed through this year, with solid execution of the outlined priorities, resulting in a financially robust business. This is reflected in the company’s full year and sequential quarter-on-quarter performance.
Paul Atkinson, CEO - Optical Networking Business, STL
Ahead of the BEAD state fund allocations expected on 30th June 2023, service providers are gearing up for action. We believe that fast availability and reliable supply of high quality solutions designed for the American context, are critical factors for BEAD’s success. STL, with its local manufacturing and talent, along with its global footprint across 4 continents and 100 countries is very well positioned to meet the needs of the market. We are very excited about this journey of connecting the unconnected in the US.
