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Optus has reported that revenue remained steady at $4.02 billion for the half-year ending 30 September 2024.
The telco’s earnings before interest and tax (EBIT) saw a larger boost during the period, lifting 58% year on year from $141 million to $223 million. Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) grew 7.4%.
Optus attributed the growth in these numbers to higher mobile average revenue per unit (ARPU), including a 4.1% increase in mobile services revenue with blended ARPU up 3.4%, while mobile equipment revenue grew 5.8% amid stronger demand for higher-end devices.
At the same time, the telco said its “disciplined” cost management also helped with the growth, where operating expenses was down by 2.5% during the half-year period.
“We will continue to focus on our core business initiatives, including ongoing investment in a resilient network, enhancing connectivity choices for consumers and building a stronger and safer digital future for Australians,’’ Optus Chief Financial Officer Michael Venter said.
During the six months, Optus added 80,000 subscribers to its mobile customer base, including 39,000 prepaid customers and 36,000 postpaid customers.
Optus also reported that despite strong sales in enterprise, its wholesale and enterprise and business fixed revenue declined 17.8% in the period, which the company said was driven by lower project-based satellite revenues and lower enterprise IT equipment sales.
The half-year results come just a week after Optus welcomed its new CEO, former National Broadband Network CEO Stephen Rue. Rue’s appointment, announced in May, follows the departure of Kelly Bayer Rosmarin, who was criticised for how she handled the nationwide outage that took down phone and internet services for 14 hours. Venter stepped in as interim CEO until Rue’s arrival.
Rue now joins Venter on the Optus board, which continues to operate under its new governance model. His appointment coincided with Optus adopting a decentralised structure where the Optus CEO and executives report to the board, while Rue reports directly to the chairman.
“The board and executives will work together to reset strategy and rebuild customer trust in the Optus brand,” the company stated in May.
