Fibre broadband continues to take on more of Chorus’ total revenue as it continues to phase out copper-based services.
Chorus had a solid first half to the 2022 financial year, with profit, revenue, and EBITDA (earnings before interest, tax, depreciation, and amortisation) seeing increases across the board. Net profit after tax rose 55% year-on-year to NZ$42 million, operating revenue increased by NZ$6 million to NZ$483 million, while EBITDA jumped from NZ$326 million to NZ$347 million. As Chorus continues transitioning away from copper-based services, fibre broadband once again took up a larger share of the telco’s total revenue when compared to years prior by chipping in NZ$267 million. Fibre broadband now accounts for 55% of the telco’s revenue, an increase of 7 percentage points compared to the same period in the year prior. After fibre broadband, copper-based broadband contributed NZ$80 million, while fibre premium, copper-based voice, and field services all provided around NZ$30 million in revenue for the half year. Providing an update on the telco’s Ultra-Fast Broadband (UFB) rollout, Chorus CEO JB Rousselot said his telco only has to connect 30,000 more premises to complete the fibre network.
