Chorus (CNU) Q1 2026 TU earnings summary

Executive summary

• Fibre broadband connections increased by 7,000 in Q1 FY26, reaching 1,122,000 and offsetting a reduction in copper lines.

• Fibre now represents over 92% of total connections, with copper lines making up less than 8%.

• Strong data demand in Q1 FY26, with average monthly usage peaking at 686GB in August and a 10% year-over-year increase in September fibre usage.

• Fibre uptake in UFB2 areas increased to 63%, and overall fibre network uptake rose to 72.2%.

• Total fixed line connections declined by 7,000 to 1,200,000, driven by ongoing copper disconnections.

Financial highlights

• Fibre broadband connections reached 1,122,000, up from 1,115,000 in the previous quarter.

• Average monthly data usage on fibre rose 10% year-over-year to 668GB per connection, with a peak of 686GB in August.

• 100/20Mbps plan connections grew by 14,000, with 63% of growth from new and offnet addresses.

• 18% of fibre connections used more than 1TB of data monthly, slightly down from 19% in the previous quarter.

• 25% of residential connections are on 1Gbps or faster plans.

Outlook and guidance

• Full copper withdrawal in fibre zones expected by mid-2026, with only 9,000 copper lines remaining in these areas.

• Nationwide copper network retirement targeted by 2030.

• Fibre footprint expansion is complete, with 9,000 new premises handed over and 2,300 already connected.