Aussie Broadband's Financial Milestones

Aussie Broadband (ASX:ABB) celebrated its 20th anniversary by announcing significant financial results for FY24 at its Annual General Meeting. The company reported a 27% increase in revenue, reaching nearly $1 billion, and an EBITDA of $120.5 million. Marking a milestone, Aussie Broadband declared its first shareholder dividend, highlighting its commitment to infrastructure expansion and strategic growth.

Strategic Outlook and Future Goals

Aussie Broadband (ASX:ABB) has positioned itself as a leading telecommunications provider in Australia with strong financial results for FY24. The company’s revenue surged by 27% to approximately $1 billion, driven largely by the acquisition of Symbio. This acquisition is expected to realize synergies of $8-$12 million by FY26. The company declared its first fully franked dividend, signaling confidence in its financial health. Looking ahead, Aussie Broadband is committed to infrastructure expansion through its Aussie Fibre network, aiming to improve service economics and efficiency. The launch of Buddy Telco demonstrates its strategy to capture price-conscious customers, while its ESG commitments underscore a dedication to sustainability. With a guidance for FY25 EBITDA set between $125 to $135 million, Aussie Broadband is focused on continued growth, diversification, and exploring strategic M&A opportunities to enhance shareholder value.

Executive Commentary on Performance

The acquisition of Symbio has significantly contributed to our growth, and we are excited about the synergies that will be realized by FY26. Our focus remains on expanding the Aussie Fibre network to enhance our service offering and improve operational efficiency. We are proud to be recognized as Australia’s Most Trusted Telco, and we continue to invest in our workforce, diversity, and innovation.