Aussie Broadband rises on upbeat results, outlook upgrade

Aussie Broadband

24/02/2025 03:42

(Adds comments from UBS)
    ** Aussie Broadband  ABB.AX  rises 4.2% to A$3.990
    ** Stock earlier rose to A$4.290, highest since March 13,
2024
    ** Internet service provider posts HY NPAT of A$12.2 million
 ($7.77 million), up 23.8% y/y
    ** Upgrades underlying EBITDA outlook to A$133 mln-A$138 mln
from earlier A$125 mln-A$135 mln range
        ** Raises FY capex outlook by A$20 million
  
    ** UBS positive on FY guidance upgrade and continuance of
market share gains across every segment, which looks to have
continued through Q3 FY25
    ** Citi says ABB's outlook uplift and reiteration of its
commitment to reach 100,000 subscribers for Buddy in next 2-3
years illustrate Group's confidence in its growth trajectory
    ** Stock up 11.5% YTD

($1 = A$1.5699)

 (Reporting by Jasmeen Ara Shaikh and Nikita Maria Jino in
Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))