Full Year 2024 Telstra Group Ltd Earnings Call Transcript
Key Points
- Telstra Group Ltd (TLGPY) reported a 3.7% increase in underlying EBITDA to $8.2 billion, demonstrating strong operational performance.
- The mobile business saw significant growth with over 560,000 net new handheld customers and a 5.6% increase in mobile services revenue.
- The infrastructure business, including InfraCo Fixed and Amplitel, grew EBITDA by around $150 million, reflecting strong demand for assets.
- The company announced a strategic partnership with Microsoft, highlighting strong demand for Telstra's intercity fiber network.
- Telstra Group Ltd (TLGPY) increased its fully franked final dividend by 5.9% to $0.18 per share, reflecting confidence in future earnings growth.
- The enterprise business underperformed, with a 67% decline in fixed enterprise EBITDA to $136 million, driven by ARPU compression and lower business confidence.
- Reported EBITDA decreased by 4.2% to $7.5 billion due to significant one-off net costs totaling $715 million.
- The company faced challenges in its NAS portfolio, with a 4.5% decline in income and a drop in earnings to $41 million.
- Free cash flow guidance for FY25 includes a $300 million cash outflow related to FY24 restructuring costs, impacting overall cash generation.
- The delay in the 3G network shutdown could potentially impact cost savings and the company's ability to reduce energy use and emissions.
Good morning, and welcome to Telstra's results announcement for the full year ending June 30, 2024. I am Nathan Burley, Head of Investor Relations. I'm joining today from the lands of the Gadigal people. On behalf of Telstra, I acknowledge and pay my respects to the traditional custodians of country throughout Australia and recognize the continued connection Australia's First Nations people have to land, waters and culture. We pay our respects to Elders, past and present.
This morning, we will have presentations from our CEO, Vicki Brady, on the telecommunications industry, our role and an overview of results. Our CFO, Michael Ackland, will speak to our financial results in detail. We will then open to questions from analysts, investors and the media.
I will now hand over to Vicki.
Good morning, everyone, and thank you for joining us today. As Nathan mentioned, I'll make some high-level
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