Aussie Broadband posts strong start to FY25 with 21% rise in broadband connections

Aussie Broadband (ASX:ABB) has commenced FY25 with robust growth across all segments, including a 21% increase in broadband connections.

By the end of 1Q FY25, the group recorded 22,119 new services, bringing their total broadband connections to 706,418, a 3.2% increase from the previous quarter.

The group's market share of the nbn increased from 7.38% to 7.60% as of Sept. 30, and the company has secured significant contracts, including a 400-site network deal with The Reject Shop and a partnership with Red Energy.

The partnership with Red Energy allows for the sale of broadband and energy products via Direct Connect.

Symbio, part of Aussie Broadband, has extended its existing agreement with MEDION Australia, reinforcing its position as a leader in the mobile virtual network enabler space.

New deals and partnerships, such as with Auto & General and Ventora Group, further demonstrate the company's capabilities in network management.

"We are happy to report that Aussie Broadband has started the year positively with growth across all segments," stated Phillip Britt, Co-founder and Managing Director, of Aussie Broadband Group.

"Our enterprise & government team is continuing to make inroads into the sector with a number of key wins, bringing on more household brands and major nationwide Australian businesses."

Aussie Broadband reaffirmed its FY25 guidance with an EBITDA target of $125 million to $135 million and capital expenditure of $55 million to $60 million.

At the time of reporting, Aussie Broadband’s share price was $3.84.