Saturday, October 8, 2022

Aussie Broadband Half-Year Results

Aussie Broadband Limited (ASX:ABB) has announced its results for the half-year ended 31 December 2021 (1H FY22).

Highlights:

  • Revenue of $229.3 million, an increase of 46 percent on prior corresponding period (pcp).
  • EBITDA of $9.1 million, an increase of 7 percent on pcp.
  • Providing 494,803 broadband connections, an increase of 45 percent on pcp.
  • Providing 32,207 mobile services, up 70 percent on pcp
  • Business broadband services up 67 percent on pcp to 45,483.
  • 5.66 percent NBN broadband market share (excluding satellite) up from 4.23 percent at December 20.
  • The opening of our office and call centre in Burswood, WA.
  • Won Customer Service Organisation of the Year – Large Business in the Australian Service Excellence Awards, for the second year in a row.
  • The company achieved revenue of $229.3 million and EBITDA of $9.1 million.

“It’s been another year of growth for Aussie, and I am extremely proud of the work the whole team has put in to create some great half-year results,” said Managing Director Phill Britt.

“The year started with a huge amount of uncertainty due to the ongoing effects of the COVID-19 pandemic, but our growth in broadband services, for both residential and business segments, remained consistently strong.

“We continued the fibre roll out with 63 sites complete at 31 December 2021; the remainder of the sites will be connected by end of FY22 when 1200km of Aussie fibre will be in the ground.

“A huge ‘thank you’ goes out to the entire Aussie team who continue to kick goals.”

The company’s market share of NBN fixed-line and fixed-wireless technologies increased to 5.66 percent, compared to 4.23 percent in December 2020.

Marketing expenses for the period were $16.4 million, with an additional $8m provided in promotional discounts to drive broadband and mobile growth, along with mobile retention during the network migration.

EBITDA was impacted by network costs including higher CVC due to lockdowns in the period, as well as promotional and free month offers impacting short-term EBITDA but driving better than expected volume growth.

Visit https://www.aussiebroadband.com.au

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