The Chorus Ltd (ASX: CNU) share price is in focus today after the company posted half-year results to 31 December 2025 showing operating revenue of $506 million and net profit after tax of $15 million, both up on the prior period.
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What did Chorus report?
- Operating revenue: $506 million, up 1% year-on-year
- EBITDA: $357 million, up 3% from HY25
- Net profit after tax: $15 million (HY25: net loss of $5 million)
- Operating expenses: $149 million, reduced by $5 million
- Interim dividend: 24 cents per share, up 4% from HY25
- Total fibre connections increased by 31,000 to 1.13 million
What else do investors need to know?
Chorus continued its transition toward being a fully fibre-based network operator, with copper connections now reduced to just 3,000 in Chorus fibre areas and a full withdrawal expected by mid-2026. Fibre uptake rose to 72.4% in serviceable areas, with strong customer demand driving higher data consumption, now averaging 722GB per connection per month.
The company also reported ongoing cost savings, including lower labour costs and reduced maintenance, as fibre proves more resilient and efficient than copper. Capital expenditure declined to $158 million, reflecting tighter investment discipline and project timing.
Chorus has initiated its Equity Fibre product, designed to improve digital inclusion for households facing affordability barriers, highlighting its broader social focus alongside financial performance.
What did Chorus management say?
Chief Executive Officer Mark Aue said:
Our purpose is anchored in enabling better futures for Aotearoa at an intergenerational level. In many cases, a driving role we play is through connectivity. We know we have a role to play in helping address this, and so we are very proud to be launching our Equity Fibre product, designed to provide affordable and accessible connectivity. We're highly committed to driving progress in this space.
What's next for Chorus?
Chorus reaffirmed its full-year FY26 EBITDA guidance range of $710 million to $730 million, noting progress is tracking towards the upper half. The company plans to pay a total dividend of 60 cents per share, subject to no material adverse changes.
Looking ahead, Chorus is focused on achieving 80% fibre uptake by 2030, further streamlining operations, and delivering value by supporting New Zealand's increasing need for high-speed connectivity. The company will continue to reduce copper infrastructure and ramp up copper recycling and property optimisation initiatives.
Chorus share price snapshot
Over the past 12 months, Chorus shares have risen 5%, trailing the S&P/ASX 200 Index (ASX: XJO) which haas risen 9% over the same period.
