Aussie Broadband Ltd. · ASX:ABB
Aussie Broadband — H1 FY26 Earnings Presentation
41 slides from Aussie Broadband's earnings presentation, Feb 23, 2026
Slide 1: 2026 Half Year Results
2026 Half Year Results ASX:ABB 23 February 2026
Slide 2: Acknowledgement of Country
Aussie Broadband acknowledges Aboriginal and Torres Strait Islanders as the First Australians, and for their role as the original communicators, connectors, and carers of the land and waters across Australia. We pay our respects to Elders past and present. We commit to working respectfully to honour
Slide 3: Agenda and Speakers
Agenda Speakers 01 H1 FY26 Overview Brian Maher Group CEO 02 Financials 03 Segment Performance Andy Giles Knopp Group CFO 04 Upgraded Strategic Ambitions 05 Trading Update and Guidance 06 Appendices 3
Slide 4: Aussie Broadband Group
Aussie Broadband Group Loved by customers Diversified Telco Strategic assets Strong financials Significant recognition Multiple growth levers across Owned and proprietary assets Flexibility to pursue and deliver by customers and partners products and channels underpin a scalable moat growth opportun
Slide 5: H1 FY26 Overview
01 H1 FY26 Overview 5 5
Slide 6: H1 FY26 Highlights
H1 FY26 Highlights Strong underlying EBITDA uplift and market share gains; positioned to become third largest NBN service provider by end of 2026 Underlying EBITDA $74.7m, up 13.5% on pcp Continued revenue growth across all segments, scale and efficiency benefits offsetting gross margin pressure fro
Slide 7: H1 FY26 Operational metrics
H1 FY26 Operational metrics 8.8% Market share of 1,977km Aussie Fibre Network 1,057 Connected buildings 240k on-net NBN Mobile services services¹ 1,317 1.25 across the Group Fibre Customers Connections per Up 24k vs Jun-25 Up 0.4 ppts vs Jun-251 building Australia’s most 828k Broadband 8.1m 4.5 bn t
Slide 8: H1 FY26 Financials
02 H1 FY26 Financials 8
Slide 9: H1 FY26 Financial highlights
H1 FY26 Financial highlights 25% growth in NPATA3; on track to meet upper end of full year EBITDA guidance Underlying Operating Underlying Revenue EBITDA1 Cash Flow2 NPATA3 EPS4 $637.8m $74.7m $57.1m $31.3m 10.7 cents Up 8.4% Up 13.5% Up 15.9% Up 24.5% Up 26.5% 1. Underlying EBITDA calculated as sta
Slide 10: Profit & Loss
Profit & Loss 1H FY25 $m 1H FY26 $m Change Like-for like underlying EBITDA² up 27.0% Revenue 588.5 637.8 8.4% Gross margin 217.6 231.7 6.5% Like-for-like revenue growth² of 13.5% driven by: Gross margin % 37.0% 36.3% (0.7 ppts) • 13.7% increase in broadband connections Operating expenses (151.9) (15
Slide 11: Like-for-like EBITDA growth of 27%
Like-for-like EBITDA growth of 27%¹ 80 75 15.4 74.7 Commentary 70 1. Origin direct contribution, gross 65.8 margin less direct customer 65 service costs $ million 2.5 2. Buddy net contribution of ($2.4m) 60 in H1 FY26 - $2.5m improvement (7.0) (1.9) 3. Cost to increase capacity 55 enabling future mi
Slide 12: Cash Flow & Balance Sheet
Financial flexibility to pursue growth opportunities Cash Flow & Balance Sheet Operating cash flow impacted by: • One-off cash incentive of $2.5m paid to More as Key metrics H1 FY25 H1 FY26 Change part of the consideration for a six-year Wholesale Services Agreement $m $m • $3m advance payments on h
Slide 13: Strategic investments in Capex
Strategic investments $48m in Capex H1 FY26 Capex aligned to key priorities Aussie Fibre network build out focused on on-net only $27m Platform development for scaled migrations and enablement 3 Employee enablement and experience • Nitrogen platform ready for More & Tangerine migration 4 Lifecycle r
Slide 14: Segment Performance
03 H1 FY26 Segment Performance 14
Slide 15: Residential
Residential 15% revenue growth, gross margin % improvement and continued customer service efficiencies delivered 1H FY251 1H FY26 Change $m $m H1 FY26 Highlights Revenue 327.1 375.3 14.7% Revenue up 14.7% - gaining share in a competitive market • 8% pcp growth in NBN broadband services; on-net NBN m
Slide 16: Accelerate Great delivers step change in speed tiers
Accelerate Great delivers step change in speed tiers Leading the market with the highest customer awareness of high-speed1, first RSP to launch high-speed plans All eligible FTTP and HFC Residential customers upgraded to new high-speed tiers on Day 1 of NBN’s ‘Accelerate Great’ in September 2025 44%
Slide 17: Business, Enterprise & Government
Business, Enterprise & Government Higher value contract mix driving growth 1H FY251 1H FY26 Change H1 FY26 Highlights $m $m Revenue 104.3 115.5 10.8% Revenue growth of 10.8% - driven by strong growth in NBN connections and higher average deal size: Cost of Goods Sold (56.8) (63.5) (11.8%) • Record m
Slide 18: Wholesale
Wholesale Strong delivery pipeline in place to drive future growth; proprietary platforms enable 290k migrations in H2 FY26 1H FY251,2 1H FY26 Change H1 FY26 Highlights $m $m Revenue up 12.5% - strong growth in mobile and data Revenue 130.7 147.0 12.5% • 12.7% growth in Mobile SIOs Cost of Goods Sol
Slide 19: Upgraded Strategic Ambitions
04 Upgraded Strategic Ambitions 19
Slide 20: Migration accelerates Wholesale
Migration accelerates Six-year Wholesale Services Agreement with More Wholesale • An estimated 290,000 connections across two brands to be migrated, including Buddy connections segment growth • More & Tangerine are 40% owned by Commonwealth Bank of Australia (CBA) and More is the exclusive telco par
Slide 21: Residential expands with AGL Telco
Residential expands with AGL Telco Long-term partnership delivers material uplift in connections and EBITDA. ABB set to become third largest NBN service provider¹ $21m Estimated underlying EBITDA post Adds a combined ~210,000 broadband services and ~140,000 mobile connections, and ~46,000 voice serv
Slide 22: Strengthening BE&G segment
Strengthening BE&G segment Nexgen Acquisition – Expanding SME Capability • Enhances SME value proposition with expanded national reach and stronger sales capability • Adds 6,000 SME NBN connections and broadened product set with Agentic AI Deepening core capabilities to solutions for small business
Slide 23: Greater value for the future
Greater value for the future Upgraded ambitions on strengthened market position and expanded scale Our ambition We are changing the game and in doing so will be the telco people love for all our customers, people, partners, stakeholders and our investors. New Group revenue Residential NBN market EPS
Slide 24: Aussie Fibre – strategic asset delivering returns
Aussie Fibre – strategic asset delivering returns Capital allocation focused on increasing on-net utilisation 8.7% increase in 9.3% increase on-net buildings¹ in customers² Leveraging existing Aussie Fibre network Continued annual savings in backhaul costs and On-net buildings Fibre customers operat
Slide 25: Investing in Enablement Platforms
Investing in Enablement Platforms Multi-year program to scale the Aussie platform and strengthen segment capabilities Rationale Objectives Investment Embarking on a multi-year replatforming Enable faster product launch and innovation, OSS and BSS investments form a coordinated, program, focused on s
Slide 26: Trading Update & Guidance
05 Trading Update & Guidance 26
Slide 27: FY26 Guidance and Trading Update
FY26 Guidance and Trading Update Guidance upgraded to upper end of range, pathway to 17%-21% EBITDA growth FY25 FY26 Guidance 180 Guidance range Underlying EBITDA $138m $162m to $167m $162-167 million 170 Capex $77m $55m to $60m +21% 160 Trading Update 150 +17% • Net new connections growth of approx
Slide 28: Key takeaways
Strong financial results in line Growth accelerates across with expectations segments and sales channels Growth in NBN connections and market share Wholesale - indirect banking partnership through More & Tangerine; migrated connections Double-digit revenue growth in all segments contribute to earnin
Slide 29: Thank You
4 Aussie \ = Broadband THE ACTUAL AUSSIE WAY Thank You.
Slide 30: Appendices
06 Appendices 30
Slide 31: Quarterly broadband connections
Quarterly broadband connections Broadband connections¹ QoQ change YoY change Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-25 Jun-25 Sep-25 Dec-25 Total % Residential 575,611 589,123 605,408 621,846 641,118 656,049 669,324 682,551 19,272 14,931 13,275 13,227 60,705 9.8% Business, Enter
Slide 32: Profit & Loss
Profit & Loss 1H FY25 1H FY26 Change $m $m Revenue 588.5 637.8 8.4% Network and hardware expenses (370.9) (406.1) (9.5%) Gross Profit 217.6 231.7 6.5% Gross Margin % 37.0% 36.3% (0.7 ppts) Employee expenses (102.8) (106.0) (3.1%) Marketing expenses (26.7) (28.2) (5.6%) Administration and other expen
Slide 33: Balance Sheet
Balance Sheet Dec-24 Jun-25 Dec-25 $m $m $m Cash and cash equivalents 135.4 130.3 114.8 Trade and other receivables 87.6 99.3 98.9 Plant and equipment 150.6 148.3 145.4 Right-of-use assets 56.2 50.9 43.9 Intangibles 610.0 610.8 580.2 Assets classified as held for sale - - 22.1 Other assets 44.6 42.6
Slide 34: Cashflow
Cashflow H1 FY25 H1 FY26 Change $m $m Receipts from customers 643.5 702.8 9.2% Payments to suppliers and employees (594.2) (645.7) (8.7%) Operating cash flows before interest & tax 49.3 57.1 15.9% Net Interest Payments (8.1) (6.4) 21.4% Tax Payments (24.9) (21.3) 14.3% Operating cash flows 16.3 29.4
Slide 35: Capital Management Approach
Capital Management Approach Objectives Principles 1. Committed to balance sheet settings consistent Maximise with net leverage ratio of 1.75x – 2.50x shareholder value 2. Ongoing business as usual Capex i. IRR >15% and payback between 3 & 5 years Maintain 3. Invest in growth - both organic and M&A f
Slide 36: Revised historical financials
Revised historical financials Background Business, Enterprise & Government (BE&G) (see page 38) On 1 July 2025, Aussie Broadband realigned its • Business and Enterprise & Government segments structure into a segment-led business to drive better combined customer and financial outcomes going forward.
Slide 37: Revised historical financials – Residential
Revised historical financials – Residential Residential H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 Reported revenue 283.9 301.2 585.1 327.3 349.5 Segment reallocation (0.3) (0.3) (0.6) (0.2) 0.0 Revised revenue 283.6 300.9 584.5 327.1 349.5 Reported COGS (198.1) (201.6) (399.7) (224.9) (238.8) Segment rea
Slide 38: Revised historical financials – BE&G
Revised historical financials – BE&G Business, Enterprise & Government (BE&G) H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 Reported revenue - Business 48.0 48.9 97.0 54.0 54.0 Reported revenue - E&G 41.7 46.3 88.0 47.2 50.6 Reported revenue - BE&G 89.8 95.3 185.0 101.3 104.6 Segment reallocation (2.5) 2.7 0
Slide 39: Revised historical financials - Wholesale
Revised historical financials - Wholesale Wholesale H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 FY25 Reported revenue - Wholesale* 24.9 26.8 51.7 29.7 33.9 63.6 Reported revenue - Symbio 0.0 69.9 69.9 103.8 110.7 214.5 Reported revenue - Wholesale 24.9 96.7 121.6 133.5 144.5 278.1 Segment reallocation 2.7
Slide 40: Revised historical financials – Aussie Broadband
Revised historical financials – Aussie Broadband Total ABB H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 FY25 Reported revenue* 398.5 493.2 891.7 562.1 598.6 1160.7 Segment reallocation 0.0 0.0 0.0 0.0 0.0 0.0 Pro forma 106.7 34.3 141.0 0.0 0.0 0.0 Revised revenue 505.2 527.5 1032.7 562.1 598.6 1160.7 Report
Slide 41: Important Notice & Disclaimer
Important Notice & Disclaimer The information in this presentation is intended to be general background information on Aussie Investors should also be aware that certain financial data included in this presentation including Broadband Limited (ACN 132 090 192) (Company) and its activities and operat