Chorus (CNU) Q3 2025 TU earnings summary

Executive summary

• Fibre connections increased by 9,000 in Q3 FY25, reaching 1,107,000, with uptake at 72% and growth outpacing Q2 FY25.

• Copper connections declined by 16,000 in Q3, leaving 107,000 in service as of 31 March.

• Total fixed line connections declined by 7,000 to 1,214,000, an improvement over the previous quarter.

• New Zealand ranks 19th globally for fibre uptake, just behind Sweden and Japan.

Segment performance

• Home Fibre Starter (50Mbps) connections grew by 9,000 to 77,000, with 66% of gross adds from new or offnet addresses.

• 1Gbps+ residential connections increased by 2,000, now making up 25% of residential plans.

• Business 500Mbps+ connections grew by 6,000, driven by plan simplification.

• Auckland and Dunedin both reported 76.4% fibre uptake; Wellington increased to 70.8%.

• UFB2 rollout areas saw fibre uptake rise from 60% to 61%.

Key financial ratios and metrics

• Average monthly data usage on fibre was stable at 642GB in March, with 17% of users consuming over 1TB.

• Record peak network throughput reached 5.4Tbps in February, driven by a Fortnite update.