Aussie Broadband reveals 46% y-o-y increase in fixed broadband subscriptions in trading update

2 Aug 2022

Aussie Broadband has published a trading update for the quarter ended 30 June 2022, reporting a 46% year-on-year increase in fixed broadband subscriptions, with its total rising to 584,793 (Jun-21: 401,065). Of the most recent total, the lion’s share were residential fixed broadband subscriptions, which increased by 28% y-o-y to 464,979 at mid-2022, while business fixed broadband subscriptions rose to 59,488 from 35,466, of which the bulk – 53,599 – were attributable to the Aussie Broadband brand, while the remaining 5,929 were signed up via the company’s newly acquired subsidiary Over the Wire. Wholesale fixed broadband connections increase sharply, meanwhile, reaching 60,326 at 30 June 2022, compared to just 2,144 a year earlier.

In other sectors, Aussie Broadband reported a 48% increase in mobile subscriptions for its MVNO offering, with its total climbing to 37,996, while fixed voice subscriptions were up 18% y-o-y at 94,438.

With regards to financial metrics, Aussie Broadband noted that based on unaudited financials it expects to generate EBITDA at the top end of its existing guidance range of AUD38 million to AUD39 million (~USD27 million). It noted, however, that it plans to release further information regarding its financial performance over FY22, as well its outlook for FY23 and beyond, on 29 August 2022.

Australia, Aussie Broadband, Over the Wire (OTW)