Aussie Broadband (ASX:ABB) shares nosedive 17% on 4QFY22 trading update
Kalkine Media
Published Aug 01, 2022 23:17
- Aussie Broadband Ltd (ASX:ABB) shared its trading update for fourth quarter of financial year 2022 today (August 1).
- The company has recorded some significant increases in its broadband service figures.
- Aussie Broadband’s shares were 17.36% down at AU$3.00 each on ASX at 12.33 PM AEST.
Telecommunications services and products provider Aussie Broadband Limited (ASX:ABB) today (August 1, 2022) shared its trading update for the fourth quarter of the financial year 2022.
On the back of the news, shares of Aussie Broadband were trading 17.36% lower at AU$3.00 each on ASX at 12.33 PM AEST.
Despite recording significant increases in its broadband service figures, the company's shares were trading lower.
h2 Key highlights of 4QFY22/h2
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 01 August 2022
In fourth point: It should be the Telecom firm was
h2 Other updates during the quarter/h2Broadband usage increased significantly across all market segments, with residential broadband services rising 28% to 464,979 and commercial broadband services rising 68% to 59,488. The numbers also include the services offered by Over the Wire, which Aussie Broadband had purchased earlier this year.Aussie Broadband's wholesale and white label broadband services also increased to 60,326, and NBN services (excluding Satellite) to 6.46% from 4.74% in 4Q FY21, the company informed in the ASX filing.
With over 105 of the 121 NBN Points of Interconnect links moved to the Aussie fibre network and 100G regional Telstra wavelength network, the 90% full fibre project is estimated to save AU$13.5 million per year in costs.
Data Source- Company announcement dated 01 August 2022
h2 FY22 EBITDA guidance/h2The Aussie Broadband group (including the contribution from Over the Wire after acquisition) anticipates EBITDA to be generated at the upper end of the current projection range of AU$38 million to AU$39 million based on unaudited financials.
The company will provide additional details on Aussie Broadband's operating and financial results for FY22 and its outlook for FY23 and beyond on 29 August 2022.
Read more on Kalkine Media
Get The App
Written By: Kalkine Media
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.