Aussie Broadband (ABB) H2 2025 earnings summary

Executive summary

• Achieved revenue of $1,187.1m, up 18.7% year-over-year, with underlying EBITDA of $138.2m, a 14.7% increase, at the top end of guidance.

• Launched a new three-year strategy, 'Look to 28', targeting $1.6 billion revenue and 1 million connections by 2028.

• Broadband connections grew 15% to 788k, with NBN market share rising to 8.4%.

• Integration of Symbio delivered $6m in synergies and contributed $39.4m to EBITDA.

• Announced exclusive wholesale partnership with More and Tangerine, and divestment of Buddy Telco.

Financial highlights

• Underlying NPATA increased 6.5% to $55.8m; EPS (underlying NPATA) was 19.0 cents.

• Gross margin improved to 36.7% (up 0.6ppt); operating expenses rose 23.7% to $296.9m.

• Operating cash flow before interest and tax was $117.3m, with cash conversion at 84.9%.

• Fully franked final dividend of $0.064 per share for FY25, including a special dividend.

• CapEx was $77m, at midpoint of guidance.

Outlook and guidance

• FY26 underlying EBITDA guidance of $157–$167m, representing 14–21% growth.

• CapEx guidance for FY26 reduced to $55–$60m.

• Anticipates achieving 1 million connections by end of FY26, ahead of 2028 target.

• Strategic ambitions for FY28 include >$1.6bn revenue, >11% NBN market share, and >20% EPS CAGR.

• Ongoing focus on productivity, digital capabilities, and margin support.