Chorus FY25 full year results
| Stock | Chorus Ltd (CNU.ASX) |
|---|---|
| Release Time | 25 Aug 2025, 7:32 a.m. |
| Price Sensitive | Yes |
Chorus FY25 full year results
- Delivered resilient financial result with fibre revenue up 7% and EBITDA of $705m
- Fibre connections grew by 31,000 to 1,115,000 with uptake at 72.1% of addresses
- Copper connections down 41% to 92,000 as copper network retirement progresses
Chorus Limited has delivered a resilient result for the year ended 30 June 2025, despite a difficult year for the New Zealand economy and revenue headwinds from the retirement of legacy services. Fibre connections grew by 31,000 and made up 92 per cent of Chorus' fixed lines, with fibre uptake at 72.1 per cent of addresses passed. The growing importance of digital connectivity was underlined with data demand growing 10 per cent in the year to 8,741 petabytes. Revenue lifted from $1,010 million to $1,014 million despite copper-related revenues reducing by $39 million during the year, which was more than offset through continued growth in both fibre connections and the average revenue per user. Operating expenditure was held at $309 million, down $1 million from FY24, despite continued inflation and increased regulatory levies, together with one-off costs. As a result, EBITDA was $705 million for FY25, a 1 per cent increase on FY24. After the deduction of depreciation, amortisation, interest and tax, net earnings were $4 million compared to a loss of $9 million in FY24. Chorus is making continued progress in its shift to becoming a simpler all-fibre digital infrastructure company, with the company laying the groundwork for that change in FY25 and embedding a clear strategy to reach 80% fibre uptake by 2030.
FY26 guidance: EBITDA of $710 million to $730 million, gross capital expenditure of $375 million to $415 million, sustaining capital expenditure of $195 million to $215 million, and a dividend of 60.0 cents per share (up 4.3% from FY24).
Chorus will continue to evolve in Horizon 2 (FY26-FY29), reflecting a business that is more simple, efficient, innovative and competitive. The company is focused on expanding fibre further, addressing digital affordability, and managing the retirement of the copper network.