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BBB Bigblu Broadband Plc

0.00 (0.0%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bigblu Broadband Plc LSE:BBB London Ordinary Share GB00BD5JMP10 ORD 15P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 31.00 31,394 08:00:00
Bid Price Offer Price High Price Low Price Open Price
30.00 32.00 31.00 31.00 31.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 31.22M -3.05M -0.0522 -5.94 18.15M
Last Trade Time Trade Type Trade Size Trade Price Currency
15:49:58 O 6,394 31.275 GBX

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Date Time Title Posts
30/8/202315:29BigBlu Broadband513
14/4/202200:06One for the ISA67
25/2/201617:15BB BUST ?34

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Posted at 05/12/2023 08:20 by Bigblu Broadband Daily Update
Bigblu Broadband Plc is listed in the Finance Services sector of the London Stock Exchange with ticker BBB. The last closing price for Bigblu Broadband was 31p.
Bigblu Broadband currently has 58,551,487 shares in issue. The market capitalisation of Bigblu Broadband is £18,150,961.
Bigblu Broadband has a price to earnings ratio (PE ratio) of -5.94.
This morning BBB shares opened at 31p
Posted at 04/8/2023 13:08 by value hound
Yes, I did what was intended to be a small dummy trade to check the price. The ask was 44p, but I got quoted 41.1p so just let the small top-up go through as it's v slightly less than previously
Posted at 13/6/2023 15:34 by value hound
Sorry, didn't realise the rise had been caused by Simon Thompson's re-tip today.

FWIW, he concludes with:

"Expect the share price fall to reverse quickly when the penny drops with investors. A likely IPO of SkyMesh could well bring FinnCap’s 90p target into play. Buy."
Posted at 13/6/2023 14:27 by value hound
Encouraging move up today. Obviously, it could be worth a lot more if and when it spins out its Skymesh subsidiary operation in Australia. Chris Mills topped up at 48.5p in March to go to over 25% and he's infinitely smarter (and richer...) than me so I was happy to buy at 42p.

According to Simon Thompson, when he tipped it on 1st March at 54pps, they're forecast by FinnCap to make £5.6m on revenue of £31.9m this year. He thinks a realistic valuation for Skymesh is something around 95p a share. I'd be a lot more pessimistic - but still..! In addition, there's BBB's Nordic business which is said to be recovering - so as and when the listing does happen, BBB should comfortably double and will still be undervalued and Chris Mills has a great track record of making sure this kind of thing does come to pass. He did a Vox markets podcast earlier this week in which BBB wasn't mentioned at all - so it made me wonder if he couldn't say anything about it as he's on the BoD and there's imminent news? That said, I don't think he mentioned them on the last Vox Markets interview either.
Posted at 24/3/2023 18:16 by weatherman
45p per share autumn 2021
Posted at 06/3/2023 11:29 by hjs
Bbb is trading at a huge discount when you take into account Skymesh valuation which once floated will give a moderate valuation of 96p. Imo when skymesh gets floated in Ausiland, I expect the valuation to be over £1.15 to 1.30.
Do your own DD.
Posted at 04/3/2023 15:36 by weatherman
Read article now. ST in IC suggests skymesh alone worth 96p of bbb if floated in Oz
Posted at 05/12/2022 08:15 by weatherman
Another acquisition - and this statement. "In addition, the Board also continues to explore all options to realise value for BBB shareholders from SkyMesh, which could include a potential ASX listing of SkyMesh."
Posted at 21/3/2022 17:21 by value hound
Tipped by Simon T (I have a small holding FWIW):


It’s not often that you can buy into a fast-growing technology business on five times annual operating profits, but that’s what’s on offer at Aim-traded BigBlu Broadband (BBB: 58p), a provider of alternative superfast satellite, fixed wireless and 4G/5G broadband products.


Following the sale of its stake in Quickline (‘Targeting sky high returns, 31 August 2021), a business that is building fixed wireless access (FWA) networks to address the ‘digital divide’ in the UK, and a subsequent £26.1mn cash return (45p a share), BigBlu retains £7.6mn of loans and equity in Quickline, and net cash of £5.2mn. House broker finnCap estimates the £33.8mn market capitalised group is likely to receive £5mn of deferred cash consideration in the coming months, too. Admittedly, the forecast cash earn-out is less than the maximum of £10.1mn at the time of the disposal, the reason being the global shortage of microchips impacted the supply of 5G radio equipment and the milestones.

Effectively, BigBlu’s remaining businesses in Australia and Norway are in the price for £16mn even though they increased operating profit by 15 per cent to £3.2mn on revenue of £27.1mn in the 2021 financial year. It’s a valuation anomaly worth exploiting.

BigBlu’s growth underrated


11 per cent growth in cash profit (Ebitda) to £4.6mn, or 6 per cent ahead of expectations
Adjusted free cash flow of £2.1mn
Strong organic growth in customer base in Australia
Regional expansion into New Zealand
Nordic business restructured and now generating underlying growth
BigBlu’s focus is on two international businesses: SkyMesh, an Australian satellite broadband provider that targets customers in rural areas outside of the fibre footprint; and a Nordic satellite and FWA broadband business that has been restructured and plans to expand into Sweden and Finland.


In the 2021 financial year, SkyMesh’s cash profits surged by 43 per cent to £4mn on 31 per cent higher revenue of £21.8mn, buoyed by 3,700 new customer additions (to 49,700). Skymesh continues to secure a 50 per cent share of new satellite additions under the Australian government’s NBNCo scheme, and is seeing growing interest for its premium Sky Muster Plus product. This helped boost average revenue per user by 15 per cent to A$70 per month.

Moreover, the partnership in New Zealand with Asia Pacific broadband satellite operator Kacific signed its first customers in December 2021, and the post period end acquisition of Melbourne-based ISP Clear Networks adds 2,200 subscribers for a maximum consideration of A$2.9mn (£1.6mn), or six times trailing cash profit. House broker finnCap expects SkyMesh to deliver 13 per cent revenue growth, which supports a divisional cash profit forecast of £4.4mn and free cash flow above £3m.

Importantly, the Nordic business has been successfully restructured. Dismounting 100 lossmaking masts cut the user base by 4,000 customers, but this was mitigated by a network upgrade programme to 55 towers which increased internet speeds to 100 Mbps and helped add 2,000 new profitable customers.

Bigblu Norge has also entered a distribution agreement with Telenor to provide ultrafast broadband via wireless 5G, offering speeds up to 500 Mbps with unlimited data packages. Equipment shortages mean the roll-out is six months behind schedule, but it’s still growing. One fly in the ointment is last month’s cybersecurity attack on Viasat, the provider of BigBlu’s satellite capacity in the Nordics. Although the Nordics’ satellite customer base is likely to churn as a consequence, finnCap still expect the Nordics unit to deliver 5 per cent growth in cash profit to £2mn this year.

My sum-of-the-parts valuation of £58mn (100p a share) values BigBlu’s operational businesses at £40mn, or the equivalent of 10.5 times 2023 operating profit estimates. Buy.
Posted at 02/7/2021 12:24 by sev22
I thought I would re-circulate Simon Thompson's article dated 26th April 2021 highlighting what an under priced opportunity BBB was then and even more so today.

I always carry out sum-of-the-parts valuations during my research on a company to ascertain whether there is a pricing anomaly to exploit. I also try and identify share price catalysts to narrow the valuation gap, and assess when they are likely to materialise.

BigBlu Broadband, a provider of alternative superfast broadband products, is a prime example. Last autumn, Christopher Mills, founder of Harwood Capital and non-executive director of BigBlu, splashed out £2.26m buying shares in the company, almost all of which was on behalf of North Atlantic Smaller Companies Investment Trust, the fund he runs. Harwood owns a 27.7 per cent interest in BigBlu’s shares.

At the time, I suggested that the growth in BigBlu’s Quickline subsidiary was being seriously underpriced and the stake had potential to be worth as much as the company’s own market capitalisation (‘Exploiting valuation anomalies’, 15 October 2020). That prediction was not far off the mark following BigBlu’s disposal this week. Moreover, it follows last summer’s sale of BigBlu’s UK and European satellite broadband businesses for £37.8m – a 50 per cent premium to the prices paid the company. Even though BigBlu’s share price has risen 30 per cent in the past six months, investors have yet to fully factor in the financial implications of both transactions.

BigBlu Broadband’s eye-catching disposal:

Disposal of Quickline stake for up to £48.6m.
Ongoing interest in Quickline through convertible loan notes.
Expansion in Australasia and Nordics.

Aim-traded BigBlu Broadband (BBB:122p), a provider of alternative superfast satellite, fixed wireless and 4G/5G broadband products, has announced the disposal of its 52.7 per cent-owned Quickline subsidiary for a maximum consideration of £48.6m. That sum equates to 5.8 times the company’s investment, a return that has been produced in less than four years.

Quickline is building its own fixed wireless access networks, supported by increasing amounts of fibre infrastructure, to address the ‘digital divide’ in the UK. The fast-growing business targets poorly served parts of Lincolnshire and Yorkshire and its investment prospects are attractive enough for private equity group Northleaf Capital Partners to pay a multiple of 23 times forecast cash profit to enterprise valuation.

On completion BigBlu will receive £31.1m cash and £5.6m convertible loan notes (CLNs) yielding 4.5 per cent in the acquisition vehicle. In addition, the company is expected to receive a cash earn-out of £10.1m and a further £1.8m in CLN’s based on Quickline’s financial performance in the 12 months to 31 March 2022. Post completion, BigBlu’s cash and cash equivalents of £32.8m will equate to 48 per cent of its own market capitalisation. The combined £7.4m CLNs can convert into 8 per cent equity in the acquirer’s holding company, thus offering potential for further value accretion to BigBlu’s shareholders.

BigBlu focus is now on its two overseas businesses: SkyMesh, a leading Australian satellite broadband provider with 45,000 customers; and a Nordic satellite and fixed wireless broadband business that aims to expand its geographic footprint into Sweden and Finland.

In Australia, SkyMesh targets customers in rural areas outside of the fibre footprint, who only receive a low-speed and low-quality service from traditional fixed telecom broadband suppliers. The aim is to grow the customer base by 10,000 per year through organic channels, and expand the offering into New Zealand. The operation is forecast to report both cash profit and operating free cash flow over £3m this year and has potential for an IPO or disposal, too.

In the Nordics, BigBlu is investing £2m upgrading its fixed wireless network (8,900 subscribers), and should benefit from greater satellite capacity (currently 2,300 subscribers) from the world's leading satellite operators Eutelsat (NYSE /Euronext: ETL) and ViaSat (NSQ: VSAT) to support expansion into Sweden and Finland over the next two years. The Nordics operation is forecast to report a cash profit of £2.2m in the 2021 financial year.

BigBlu’s share price is up 11 per cent since my last buy call (‘Three high growth small-cap plays’, 11 January 2021), and there is still compelling value on offer. Adjusting for cash on the balance sheet and the deferred cash and VLN earn-outs, BigBlu’s enterprise valuation equates to only eight times finnCap’s operating profit estimate of £3.1m for the 2021 financial year. I am raising my target price from 165p to 175p. STRONG BUY.
Posted at 25/2/2020 19:44 by oohrogerpalmer
The problem with BBB share price is the last update.
Customer sign up numbers were down and debt was up , exactly the 2 things the markets don't like. Until BBB give results / update that reverse these then things wont improve.
Bigblu Broadband share price data is direct from the London Stock Exchange

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