Full Year 2024 Aussie Broadband Ltd Earnings Call Transcript
Key Points
- Aussie Broadband Ltd (ASX:ABB) reported a 27% year-on-year revenue growth, reaching almost $1 billion.
- The company declared its first fully franked dividend of $0.04, showcasing a strong balance sheet.
- Aussie Broadband Ltd (ASX:ABB) successfully launched Buddy Telco, with promising early results and high customer satisfaction.
- The company's fiber network expanded to over 1,700 kilometers, covering major metropolitan hubs and growth corridors.
- Symbio, acquired in February, contributed $12 million in EBITDA and is expected to deliver 30% greater EBITDA in FY25.
- The company experienced some churn following price increases in November and June, although it returned to normal levels.
- The enterprise and government market remains highly competitive, putting pressure on pricing and margins.
- Aussie Broadband Ltd (ASX:ABB) faces challenges in integrating and realizing synergies from the Symbio acquisition.
- The net debt position increased by 7.1% to $138 million, including borrowings and lease liabilities.
- The company anticipates further industry consolidation, which may present both opportunities and risks.
Thank you for standing by, and welcome to the Aussie Broadband Limited FY24 results call. (Operator Instructions) I would now like to hand the conference over to Mr. Philip Britt, Group Managing Director. Please go ahead.
Good morning, all, and welcome to the Aussie Broadband earnings call for our FY24 full year results. My name is Phil Britt, and I'm the Group Managing Director of Aussie Broadband. With me on the call today is Aussie Broadband's CEO, Brian Ma; Aussie Broadband's Group Chief Financial Officer, Andy Giles Knopp; and Symbio's CEO, Michael Omeros known to many as Mo.
A lot has happened in the last 12 months, and we're pleased to report a solid growth across our core segments and some excellent momentum that we're carrying into FY25. It's been exciting year and there's a lot to cover, so let's get started.
Before we get into the results, I'd like to acknowledge the Aboriginal and Torres Strait Islanders as the first Australians for their role as the
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