Half Year 2025 Chorus Ltd Earnings Call Transcript

Feb 23, 2025 / 09:00 PM GMT

Transcript

Key Points

Positve

Chorus Ltd (CHRYY) reported steady results despite ongoing economic headwinds, showcasing resilience in a challenging market.
The company added 14,000 new fiber connections, with fiber uptake nearing 72% of addresses passed.
Data usage on fiber continues to grow, reaching a record average of 644 gigabytes per month in December.
Chorus Ltd (CHRYY) confirmed an unimputed interim dividend of $0.23, aligning with their capital management policy.
The company is on track with its strategy to transition to an all-fiber business by 2030, with significant progress in copper line reduction.

Negative

Revenues were slightly down by 1% to $500 million, primarily due to the migration away from legacy services.
The company recorded a net loss of $5 million for the half, impacted by the decline in legacy revenues.
ARPU decreased by $0.37 to $55.34, influenced by strong uptake of the entry-level fiber plan and delayed price changes.
Chorus Ltd (CHRYY) faces ongoing challenges in the property developer sector, affecting greenfield activity.
The economic recession has led to some customer downtrading, impacting the uptake of higher-speed fiber plans.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CNU.NZ - Chorus Ltd
Half Year 2025 Chorus Ltd Earnings Call
Feb 23, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Moria tenakoto katoa know my hidemai. Good morning and welcome everyone to our half year result announcement for FY25. I'm Mark Oe, the CEO of Chorus. Alongside me is Drew Davies, our Chief Operating Officer, who joined us in October, and this will be his first results presentation.

I'll start today with an overview of our half 1 results and then a brief reminder on the strategy reset we undertook in 2024 and announced at the recent investor day on December 2nd. Drew will cover the financials with updates on how we're tracking against guidance, after which I'll take you through our areas of focus for the remainder of FY25.

Overall, we're pleased to be reporting a steady set of results, particularly given ongoing economic

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