Half Year 2026 Chorus Ltd Earnings Call Transcript
Key Points
- Chorus Ltd (CHRYY) reported a 3% increase in total fiber connections, reaching over 1.1 million, with fiber revenues growing by 7%.
- Operating expenses were reduced by 3% despite inflationary pressures, showcasing effective cost management.
- EBITDA increased by $11 million compared to the previous half, reaching $357 million.
- The company declared an unimputed interim dividend of $0.24 for the half.
- Chorus Ltd (CHRYY) is making significant progress in copper retirement, with only 3,000 lines remaining in USB areas, opening opportunities for recycling and regulatory changes.
- The economic recovery remains uneven, impacting overall business conditions.
- Copper legacy revenue continues to decline, with total copper connections down by 60,000, resulting in a 43% annual decrease in related revenues.
- Field service revenues decreased slightly due to lower new property development activity.
- Net finance expenses increased by $6 million, partly due to early repayment of notes with settlement costs.
- The company faces challenges in commercializing new infrastructure opportunities, which take time to bring to market.
(Operator Instructions) I would now like to hand the conference over to Mr. Mark Aue, CEO. Please go ahead.
(spoken in foreign language) Good morning, everyone, and welcome to Chorus's results presentation for the six months ended December 31, 2025. I'm Mark Aue, Chief Executive, and joining me is Drew Davies, our Chief Operating Officer. I'll begin with an overview of our results for the half year and cover some of the progress we're making on our strategy, having just entered our next phase into Horizon 2. Drew will then take you through the financials and FY26 guidance, and I will close out with the outlook for the second half and longer-term.
For the past two years, we've noted the economic downturn and its material impact across our country. We'd recognize economic recovery is at best still lumpy. Over the same period, we've continued to highlight the resilience of fiber more seemingly as an essential service and so I'm pleased to be reporting another robust result for the first half. From a results
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