The Chorus Ltd (ASX: CNU) share price is in focus after the company published its 2025 fibre regulatory report, revealing a lift in its regulated asset base to $6.0 billion and a $76.3 million wash-up balance to be carried forward.
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What did Chorus report?
- Regulated Asset Base increased from $5.9 billion in 2024 to $6.0 billion for 2025
- Core RAB reached $5.1 billion, up $0.2 billion from 2024
- Financial Loss Asset reduced to $0.9 billion in 2025
- 2025 revenues were $101 million below the maximum allowed
- Operating costs for 2025 totalled $94 million (H2) and $97 million (H1) for core fibre
- $129 million in capital expenditure in H2 2025, $178 million in H1 2025
What else do investors need to know?
The 2025 information disclosure highlights Chorus' ongoing investments in expanding and maintaining its fibre network, with $343 million in new RAB assets commissioned during the year. The wash-up balance of $76.3 million, stemming from under-earning allowed revenue, will be carried forward to the next regulatory price-quality period (PQP3).
Chorus noted that both its financial numbers and regulatory calculations remain subject to review by the Commerce Commission. The company has also provided more detail for investors on its disclosures webpage.
What's next for Chorus?
Looking ahead, Chorus is focused on supporting fibre connectivity across New Zealand and optimising its regulatory position for PQP3. The company continues to invest in upgrading its network assets and managing costs as it meets both customer needs and regulatory obligations.
Further updates are expected as the Commerce Commission reviews the submitted disclosures and as Chorus refines its strategy for future periods.
Chorus share price snapshot
Over the past 12 months, Chorus shares have declined 8%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 2% over the same period.
