On 28th May 2020, Optus announced its FY20 earnings update for the financial year ending 31st March. Some of the key highlights from the announcement included:
Revenue of A$8,954mn in FY20, down 1.6% over FY19 driven by a lower volume of equipment sales and increased mix of lower-margin devices. Equipment sales declined due to unbundling of mobile devices from service contracts and weaker consumer sentiment due to bushfires and COVID-19. These trends were partially mitigated by higher NBN migration revenue.
Operating EBITDA decreased 1.7% to A$2,652mn in FY20 due to lower handset volume sales and lower margins on equipment and NBN resale.
Overall net profit of A$402mn in FY20, down 39.0% over FY19. The free cashflow for the financial year was strong at A$1,396, which was up 36% compared to the previous year.
Optus 4QFY20 earnings update
List of charts/tables
Figure 1. FY20 Optus key financials (A$mn)
Figure 2. 4QFY20 Optus key financials (A$mn)
Figure 3. Operating and financial metrics – Optus Mobile