Chorus Limited (NZX: CNU) 2021 Full Year Results & Annual Report

Monday 23rd August 2021

Chorus today released its audited annual results confirming earnings before interest, tax, depreciation and amortisation (EBITDA) of $649m for the year ended 30 June 2021.

Speaking about the results, Chorus CEO JB Rousselot said: "Despite the softer market in the wake of COVID-19, we continued our active wholesaler strategy and were pleased to grow total fibre connections to 871,000. We are well on the way to our target of one million connections next year.

“Today, there are about 140,000 homes and businesses that could switch on a fibre service in a matter of hours if they chose to, and another 280,000 with fibre at their gate.

"Our UFB2 rollout continues to track ahead of schedule. Fibre passed another 69,000 premises during the year. From Whitianga, with more than 3,000 premises, to Fox Glacier, with just 100 or so; smaller and smaller communities are now getting connected to fibre."

Dividend

Chorus will pay a final dividend of 14.5 cents per share, fully imputed, on 12 October 2021, bringing total dividends for FY21 to 25 cents per share.

FY22 guidance

FY22 guidance is subject to no material changes in regulatory or competitive outlook.

• EBITDA: $640 − $660 million

• Capital expenditure: $550 − $590 million

• FY22 initial dividend guidance of 26 cents per share

Please see the links below for details

FY21 NZX Cover - full year results announcement

1. Media Release

4. NZX Financial Results Announcement

5. NZX Distribution Notice

6. Sustainability Report

7. Investor Letter

3. Annual Report (including audited financial statements)

2. Investor Presentation

Source: Chorus Limited

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