26/08/2024 17:45

Aussie Broadband (ABB) $3.49

Aussie has been under pressure since the loss of the Origin contract where it was the provider of a white label solution that ultimately went to Superloop, however, today’s announcement alleviates some concerns around their broader business, reinforcing their strong growth path, with their new challenger brand ‘Buddy’, is doing well since coming to market recently.

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15/07/2024 16:51

Aussie Broadband (ABB) $3.07

ABB -14.01%: The telco was hit hard today, down around 20% at their lows before partially recovering, after they provided FY25 guidance that was below consensus, despite saying they’d hit the high end of their recently upgraded FY24 numbers. They also launched a challenger brand called ‘Buddy Telco

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08/05/2024 16:47

Aussie Broadband (ABB) $3.89

ABB -1.02%: the telco provided a 3Q trading update today with connections continuing to grow at a strong pace even when stripping out the White label segment soon to be transferred to Superloop (SLC). 18.8k net new connections in the quarter driven by residential additions while the company flagged momentum had continued into 4Q for the segment. The company maintained FY24 guidance of EBITDA between $106-121m for the group including the contribution from Symbio that was acquired last quarter, in line with consensus expectations.

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19/04/2024 09:16

Aussie Broadband Ltd (ABB) $3.55

ABB was slammed in March after losing its white-label deal with Origin Energy to Superloop — ABB was looking to buy Superloop prior to losing the contract, perhaps they should have been more aggressive. ABB hasn’t really recovered since the news despite maintaining near-term guidance. Fortunately, we trimmed our position a few weeks earlier above $4.60, but a 30% drop still hurts portfolio performance.

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14/03/2024 16:56

Aussie Broadband (ABB) $3.55 / Superloop (SLC) $1.31

ABB -18.01% / SLC +24.76%: opposing outcomes today for the smaller telco companies, Aussie Broadband losing their white label deal with Origin Energy to Superloop, oddly enough ABB had looked to takeover SLC not too long ago. 130k users will migrate over to Superloop over the next few months, a deal that is expected to earn ABB ~$14m EBITDA over FY24.

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14/03/2024 08:50

Aussie Broadband Ltd (ABB) $4.33

ABB delivered a cracking result in February with a beat in 1H, plus improved guidance. Their upgraded FY24 EBITDA guidance of the order of ~10%, courtesy of controlled costs, drove the stock higher last month, although some profit-taking has raised its head over the last few weeks.

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27/02/2024 09:44

Emerging Companies Portfolio – Amendments

We are amending the Emerging Companies Portfolio

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23/02/2024 16:47

Aussie Broadband (ABB) $4.53

ABB +18.59% A great result from our largest holding in the Emerging Companies Portfolio, with a beat in 1H and upgraded guidance. Revenue for the half of $445.9m was up 17% and ahead of the $451m consensus with connections up 20.6% to 765,800, with strong growth across all segments. 

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06/02/2024 09:18

Aussie Broadband (ABB) $3.86

ABB is up only +2% over the last few months, underperforming the market and taking its time to digest the recent capital raise to purchase Symbio for $262mn, i.e. a telco as a service business, which dovetails nicely in ABB’s core business. We remain confident in this stock, with a move up towards $4.50 looking very realistic as they increase their NBN business above market and scale brings greater cost savings across the broader group.

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03/11/2023 16:41

Aussie Broadband (ABB) $3.58

ABB -8.67%: shares were back trading after the company raised $120m through a placement to help fund the acquisition of Symbio (SYM). We like the acquisition from several perspectives. ABB is raising money at a higher multiple so the deal will be EPS accretive, while we see plenty of revenue and cost synergies to come out of the deal for telco-as-a-service business Symbio.

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