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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Chorus
Chorus (CNU) investor relations material
Chorus AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2026 summary3 Nov, 2026
Opening remarks and agenda
Hybrid meeting opened after quorum was confirmed; prior AGM minutes were approved and notice of meeting taken as read.
Agenda covered the Chair’s and CEO’s addresses, resolutions, shareholder questions and poll voting.
Financial performance review
FY26 fibre connections reached 1,147k, up 3% YoY; EBITDA was NZD 726m, up from NZD 705m, and net profit was NZD 37m, up NZD 33m.
Net cash flows from operating activities rose 4% to NZD 740m in FY26.
Energy use fell 7% despite data traffic growth of 9%; Scope 1 and 2 emissions declined 43% from the FY20 baseline.
Employee eNPS was +56, within the technology industry’s top 10%; fibre faults were 2.84 Layer 1 and 1.24 Layer 2 per 100 connections.
Board and executive committee updates
Mark Cross chaired the meeting and Mark Aue delivered the CEO address; listed independent directors included Sue Bailey, Neal Barclay, Miriam Dean, Will Irving, Kate Jorgensen and Paul Reid.
Kate Jorgensen stood for re-election and Paul Reid for election; the Board unanimously supported both candidates.
Jorgensen cited financial, audit, governance and infrastructure experience and her role as Audit and Risk Management Committee Chair since 2022.
Reid cited 30+ years of commercial experience and governance roles across infrastructure and technology; he plans to leave Christchurch Airport’s Board in May 2027.
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Latest events from Chorus
- Fibre-led growth drove higher earnings, cash flow, and dividends as copper retirement accelerated.CNU
H2 2026 - Fibre uptake hit 75.9% with record data usage and continued copper decline in Q4 FY26.CNUQ4 2026 TU
- HY26 saw higher revenue, EBITDA, and fibre uptake, with strong cost control and dividend growth.CNUH1 2026
- Strong FY25 results, higher dividends, and strategic fibre expansion plans emphasized.CNUAGM 2025
- Fibre growth, higher dividends, and strong outlook highlight a resilient year amid copper exit.CNUH2 2025
- Strategy targets 80% fibre uptake, copper exit, and 25% revenue growth by 2030.CNUInvestor Day
- Revenue, EBITDA, and dividends rose as the all-fibre strategy advanced to 2030.CNUAGM 2024
- Fibre uptake reached 71.4%, EBITDA grew 4%, and a one-off tax hit resulted in a net loss.CNUH2 2024
- Stable EBITDA and fibre growth offset copper declines; net loss driven by asset depreciation.CNUH1 2025
Next Chorus earnings date
H1 202721 Feb, 2027
Chorus
Next Chorus earnings date
H1 202721 Feb, 2027
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Frequently asked questions
Chorus Limited is a telecommunications infrastructure company that builds, manages, and maintains network infrastructure in New Zealand. The company primarily provides broadband and fiber optic networks, enabling high-speed internet connectivity for residential, business, and government customers. Chorus focuses on expanding fiber coverage and improving network reliability to support digital connectivity across urban and rural regions. It operates as a wholesale provider, allowing internet service providers to offer retail services over its network. The company is headquartered in Wellington, New Zealand, and its shares are listed on the NZX and ASX.