Chorus Limited Half-Year Financial Results Overview

Chorus Limited (ASX: $CNU) has released its half-year financial results for the period ending 31 December 2023, reporting a solid performance. The company's focus on growing its fibre connections has resulted in a shift towards becoming a simpler, pure fibre digital infrastructure company. The financial results show an increase in operating revenue, EBITDA, and fibre uptake, with a net profit after tax of $5 million. Chorus has also announced the transition of its Chief Executive Officer, with Mark Aue set to take over from JB Rousselot effective from 15 April 2024.

Executive Commentary on Financial Performance and Strategic Initiatives

Chorus is pleased to report a solid performance in the first half of the year, with a focus on driving fibre uptake and simplifying our business model. The increase in operating revenue and EBITDA reflects the success of our efforts in growing fibre connections. We are also excited about the upcoming leadership transition, with Mark Aue bringing his extensive industry knowledge and leadership experience to the role of CEO. Our lodged expenditure proposal for the next regulatory period demonstrates our commitment to continued investment in our infrastructure. We remain focused on enhancing network resilience and driving regulatory initiatives to promote fibre uptake and migration activities.

Chorus Limited Half-Year Financial Results Summary and Outlook

Chorus Limited (CNU) has reported a solid half-year financial performance, marked by an increase in operating revenue, EBITDA, and fibre uptake. The company's strategic focus on growing its fibre connections and transitioning towards a pure fibre digital infrastructure model has shown promising results. The upcoming CEO transition, with Mark Aue set to take over, brings a new leadership perspective to drive Chorus's ambitions. The lodged expenditure proposal for the next regulatory period reflects the company's commitment to continued investment in infrastructure. Chorus's emphasis on network resilience, regulatory initiatives, and the goal of driving fibre uptake and migration activities underpin its strategic direction. The company's financial guidance for FY24 remains unchanged, with EBITDA tracking towards the top half of the guidance range and a dividend of 47.5 cents per share for the full year.