Chorus Limited (CNU) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Chorus FY26 results. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you would like to ask a question, you will need to press the start key followed by the number 1 on your telephone keypad. I would now like to hand the conference over to Mr Marco Ware, CEO. Please go ahead. Good morning and welcome to the Chorus Results presentation for the 12 months end of 30 June 2026. I'm Mark Owek, Chief Executive and joining me is Drew Davies, our Chief Operating Officer. I'll begin today with an overview of our results for the FY26 year and cover the progress we're making on our strategy. Drew will cover the financials and FY27 guidance before I close out with our outlook and the role we see Corus playing as core infrastructure for New Zealand's rapidly evolving AI future. We characterise FY26 as strong financial and operational performance, reflecting the resilience of our business model, disciplined execution and focus on driving simplicity and efficiency as we transition to an all-fibre business. Fibre connections increased by 3% at over 1.1 million connections. Uptake continued to strengthen, reaching 75.9% with Fibre revenue growth of 6% during the year. EBITDA increased 3% to $726 million, underpinned by continued revenue growth and disciplined cost management. We delivered further efficiencies across the business and maintained tight control of discretionary spend, helping offset persistent inflationary pressure, particularly in non-tradable costs. Net profit improved significantly to $37 million and strong cash generation reinforced the quality of earnings with operating cash flow up 4% to $740 million. Gross capex was $375 million and while lower than FY...