Aussie Broadband has recorded revenue of $350.3 million and EBITDA before IPO costs of $19.1m, both ahead of prospectus forecasts.
The company says their EBITDA was driven by customer growth in both business and residential segments, increase in ARPU, careful CVC management, and NBN extending COVID-19 CVC credits and promotional rebates.
Managing Director Phillip Britt called out an extraordinary performance by the Aussie Broadband team in a year of significant disruption by COVID-19. “We have staff spread across Australia who, like our customers, have all experienced different forms and lengths of lockdown throughout the year,” he said.
“The pandemic has highlighted the importance of reliable internet in our daily lives. Despite the challenges, our team has continued to deliver great network performance and great customer service to our customers, which are critical factors underpinning our growth.
“We’re in business to change the telco game, and our staff are doing that each and every day with our high-quality network, clever technology and a focus on being good to our customers”.
During FY21 Aussie Broadband increased market share in residential and business NBN connections, strategically expanded its products and services and signed key contracts to enable further growth.
The company provided 400,848 total broadband services at the end of FY21, an increase of 53% on the prior corresponding period. Mobile services, underpinned by a new mobile virtual network operator (MVNO) agreement with Optus, increased 102% for the period to 25,606.
Marketing expenses for FY21 were $26.3 million with $16.6m in the second half, 10.5% higher than prospectus forecast due to increased competition related to NBN’s focus on fast campaign in the second half. Debtor days and profile returned to pre COVID-19 levels by the end of the period.
The company reported an average customer satisfaction score of 8.4/10 across its Voice of Customer program.
On 30 June 2021 the company was servicing 386,412 unique customers (that may have multiple products & services), and was providing the following number of broadband services:
As of 30 June 2021, construction on 250 kms of dark fibre was completed, with connections to 25 data sites and NBN POIs also complete.
The project is scheduled to be completed in FY22, which will see connections to 106 POIs and data centres.
The completed network will comprise over 1200 kms of Aussie Broadband owned fibre in the ground. Eighty-five POIs and 21 data centres connected via Aussie Broadband owned or leased fibre will be lit with multiple 100G connections.
The remaining 36 POIs will be connected via 100G wavelengths. The combination of the Aussie Broadband fibre rollout and new Telstra Wholesale agreement will bring $15m in savings from FY23 onwards.
Builds have now been completed to 13 on-net customers, with another 35 currently under construction.