1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Key points:
Strong FY26 profit and dividend, with higher FY27 EBITDA and dividend guidanceRapid migration from copper to fibre, with network positioned for AI and data centre growthTight cost and capital discipline, with leverage viewed as comfortable through to 2029
Mark Aue, CEO of Chorus, outlines a stronger earnings trajectory as the company targets an all‑fibre future. Aue points to forecast FY27 EBITDA of NZ$730–760 million and at least NZ$0.62 per share in partially imputed dividends, following a sharp rise in FY26 net profit to NZ$137 million and a full‑year dividend of NZ$0.60 per share. He links the result to ongoing fibre uptake, solid cash flow and a simplified operating model.
Aue highlights rapid migration from legacy copper, with fewer than 44,000 copper connections remaining nationwide and under 1,000 in fibre areas. He regards fibre as the only technology fit for long‑term growth in data consumption, with current traffic rising around 10% annually and AI‑related demand expected to accelerate. With more than 200,000km of fibre deployed across New Zealand, Aue characterises the network as “future purpose” without the need for major structural change.
On the macro backdrop, Aue acknowledges cost‑of‑living pressures and geopolitical headwinds but remains positive on demand for affordable entry‑level 100Mbps fibre plans. He considers leverage and capital management settings appropriate through to 2029, and sees further opportunity in brownfields fibre infill, potential subsea cable investment and post‑2028 copper retirement property optimisation.
