Thursday, 12 November 2020 11:36

Optus suffers loss for HY2020-21 as pandemic takes its toll Featured

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Kelly Bayer Rosmarin: “Optus has been focused on doing the right thing to support customers and staff during a very challenging year, and our results reflect the conditions we currently face." Kelly Bayer Rosmarin: “Optus has been focused on doing the right thing to support customers and staff during a very challenging year, and our results reflect the conditions we currently face." Supplied

Singtel Optus has suffered a loss of $27 million for the first six months of its 2020-21 financial year, with the telco saying the outcome was the result of what it characterised as a challenging period.

For the first six months of the previous financial year, Optus had recorded a profit of $235 million.

The company said in a statement that operating revenue had falled 9% to $4.1 billion while EBITDA declined to $997 million.

"In the half year, operating revenue decreased 9% to A$4,064 million and EBITDA declinedto A$997 million.

"This reflected continued industry headwinds with lower retail fixed margins from a higher mix of NBN customers, lower NBN migration payments which declined from their peak of last year, as well as reduced volumes of equipment sales," the company said by way of explanation.

optus hy results

It added that these headwinds were exacerbated by the impact of the pandemic, with revenue from its mobile services falling 2%, with customer growth, roaming and pre-paid revenues all hit by the lockdown and the ban on international travel.

Optus said excluding the effects of the pandemic, mobile service revenue showed low single-digit growth. Fixed NBN customers grew by 235,000 from a year earlier and accounted for 90% of the company's fixed broadband base as of 30 September.

Revenue grew for Optus Enterprise and ICT services revenue increased strongly.

Optus chief executive Kelly Bayer Rosmarin said: “Optus has been focused on doing the right thing to support customers and staff during a very challenging year, and our results reflect the conditions we currently face.

"I take heart from the inherent resilience in our core business, and the strong recoveries we have seen across our channels with the easing of COVID-19 related restrictions. Our customer satisfaction has never been stronger, our complaints are reducing, and our offering is very compelling and provides great value for customers.

"While the headwinds are likely to continue to dampen our performance for the foreseeable future, I am optimistic about our longer term plans and expect a return to growth underpinned by a continued focus on customers."


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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