New Zealand · Delayed Price · Currency is NZD Chorus Earnings Call Transcripts
Fiscal Year 2026
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Fibre revenue and connections grew strongly in H1 FY26, offsetting copper declines and driving EBITDA and net profit gains. Cost discipline, accelerated copper retirement, and digital inclusion initiatives support robust guidance, with further growth and efficiency expected in H2.
Fiscal Year 2025
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The meeting reviewed strong financial growth, increased dividends, and progress on fiber expansion and digital equity. Board re-elections and auditor fees were approved, with strategic focus on network transition, AI adoption, and public-private partnerships for future infrastructure.
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Delivered strong fiber revenue growth and stable EBITDA despite macroeconomic headwinds, with continued copper exit and cost discipline. FY2026 guidance anticipates further fiber uptake, ongoing CapEx reduction, and a higher dividend, while regulatory and market trends support long-term growth.
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Half-year FY25 results show steady performance amid recession, with flat EBITDA, a slight revenue dip, and strong fibre uptake nearing 72%. Strategic focus is on all-fibre transition, cost management, and new growth opportunities like the Tasman Ring subsea project.
Fiscal Year 2024
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A new strategy targets 80% fibre uptake by 2030, a full copper exit, and 25% infrastructure revenue growth, supported by operational efficiency, asset optimization, and new adjacent business opportunities. Regulatory stability and a focus on digital equity and sustainability underpin the plan.
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The meeting highlighted strong financial results, a higher dividend, and a strategic shift to an all-fibre network by 2030. Key governance, risk, and people initiatives were discussed, with resolutions on board appointments and remuneration approved.
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FY 2024 saw strong financial performance with 4% EBITDA growth and 3% revenue increase, driven by rising fiber uptake and disciplined cost management. Strategic reset targets 80% fiber uptake by 2030, with updated capital management and regulatory clarity supporting future growth.