Aussie Broadband delivers record revenue

Aussie Broadband has reported record revenue and earnings in the 2023 financial year as the telco saw its market share in NBN broadband increase.

In the year ended 30 June 2023, Aussie reported revenue of $788 million, a 23.1 per cent increase year over year from $640 million, and EBITDA of $89.6 million, up 52.1 per cent from last year.

The telco saw its market share in NBN broadband - excluding satellite - increase to 7.6 per cent from 6.5 per cent last year, with total broadband connections increasing 18.2 per cent to 691,172.

“It’s been another successful year for Aussie, marked by strong financial performance, growth across all segments and continued investment in our network infrastructure," Aussie Broadband managing director Phillip Britt said.

"Our transition from being a largely residential-focused retail service provider into a multifaceted communications and technology company underpinned by award-winning customer service is well underway,” Britt added.

“We achieved strong levels of growth across the board, achieving record revenues and EBITDA, and we are continuing to win NBN market share ahead of other providers.”

Across Aussie’s business segments, wholesale contributed $100.4 million - representing a 61.7 per cent increase - while residential contributed $511.8 million during the period, up 23.3 per cent.

Wholesale also saw the most growth in connections at 54.6 per cent from 71,430 to 110,465 during the period, followed by business at 21.3 per cent from 39,017 to 47,331.

“These results underscore the value of our offer in the Australian market and the steps we are taking towards becoming a leading force in the communications and technology sector, powered by our focus on customer experience, technical expertise, infrastructure ownership and grassroots values," Britt said.

Looking ahead, Aussie expects to report EBITDA to be in the range of $100 million to $110 million in the 2024 financial year.

“Our world-class infrastructure, award-winning customer service, and leading technology remain the foundation of our business."

"We're resolute in our pursuit of sustainable growth and achieving our strategic goals to cement Aussie Broadband's position as a leading force in the telecommunications space," Britt said.