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NBN Migration Decline Hits Optus’ Operating Revenue

Optus has this morning delivered positive half-year results in a challenging market, although the continued reduction in customers migrating to the NBN has hit the company’s operating revenue.

For the half year ending 30 September, Optus reported positive EBITDA growth, up 6.6 per cent from the same period last year, sitting at A$1,042 million.

EBIT was $145 million, up from $69 million for the same period last year.

Operating revenue declined 3.5 per cent year on year, down to A$3,923 million. With the NBN migrations taken out of the equation, revenue actually increased for Optus, with a 13 per cent year-on-year lift in average revenue per user.

Mobile service revenue was also up 9.7 per cent year-on-year.

“Our relentless focus on customer experience, delivery of Australia’s fastest 5G and the launch of new and innovative Optus Living Network features is resonating with customers,” said CEO Kelly Bayer Rosmarin.

“These half year results demonstrate our strategy is the right one and we are optimistic about Australia’s reopening, which will also re-instate COVID-affected revenue streams as we welcome customers back to our retail stores and travellers back into Australia.”

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