Chorus fibre connections surge, copper lines decline in Q3 FY25

Chorus (NZX:CNU) reported a strong increase in fibre connections during its third quarter of FY25, adding 9,000 connections to reach a total of 1,107,000, which now comprise 90% of all Chorus connections. The growth in fibre connections was driven by an 8,000 increase in Chorus fibre areas and increased uptake of Home Fibre Starter plans. The company's fibre footprint now covers 1,525,000 addresses, with overall fibre uptake growing to 72% of passed addresses. Copper connections continued to decline, dropping by 16,000 in the quarter to a total of 107,000. Average monthly data usage on fibre remained stable at 642GB. Chorus noted that it is reducing copper even further with 2.5k premises ready for service in non-fibre zones.