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- NBN provider Aussie Broadband (ABB) has upped its full-year earnings guidance thanks to a strong performance since it listed in October last year
- EBITDA for 2021 is now expected to be between $17 million and $20 million, excluding IPO costs, compared to a previous target of $12.3 million
- The increase is due to strong retail revenue growth, NBN promotional rebates and an increase in customers in its business segment
- The rollout of its optic fibre network is also continuing with construction in South Australia expected to begin in the coming weeks
- Between 28 and 31 of the company’s NBN points of interconnect and data centres are due for completion by the end of June
- Shares in Aussie Broadband are up 0.75 per cent to $2.67 as of 12:33 pm AEST
NBN provider Aussie Broadband (ABB) has upped its full-year earnings guidance thanks to a strong performance since it listed in October last year.
EBITDA for 2021 is now expected to be between $17 million and $20 million, excluding IPO costs, compared to a target of $12.3 million that was previously outlined in its prospectus.
Aussie Broadband said the revised figures were due to strong retail revenue growth, NBN promotional rebates and an increase in customers in its business segment.
It follows the launch in April of a new white label solution for major retailers, which allows them to sell Aussie’s internet and VoIP services under their own brand.
The first customer — “a large retail business with more than three million customers across Australia” — had not been revealed for commercial reasons.
However, Aussie Broadband named the company as Origin Energy in a statement this morning, adding that discussions were also progressing with other parties interested in a similar white-label service.
The rollout of its optic fibre network is also continuing with construction currently underway in Western Australia, Queensland, New South Wales and Victoria. Builds in South Australia are expected to begin in the coming weeks.
Aussie Broadband hopes to grow its network to 76 NBN points of interconnect and more than 20 data centres, between 28 and 31 of which are due for completion by the end of June.
Shares in Aussie Broadband are up 0.75 per cent to $2.67 as of 12:33 pm AEST.
