Singaporean-owned Australian telco Optus reported on Thursday it was the latest telco to have its earnings smashed by the global pandemic and associated downturn.
Across the half year to September 30, Optus saw revenue drop 9% to AU$4.1 billion, while earnings before interest, tax, depreciation, and amortisation (EBITDA) fell by almost a third to AU$997 million.
By the time the numbers hit the bottom line, the telco reported a net loss of AU$27 million, compared to AU$235 million in profit posted for the first half of 2019.
In its consumer business, revenue and EBITDA was down by 11% to AU$3.4 billion and 31% to AU$924 million, respectively. The company received AU$209 million in payments from NBN, a drop of 27% compared to last year.
"Optus mobile service revenue was down 2% as customer growth, roaming and prepaid revenues were impacted by the COVID-19 lockdown and global travel restrictions which resulted in reduced inbound and outbound travellers and fewer overseas students to Australia," the company said. "Operating revenue was also impacted by Optus' COVID-19 customer support measures."
The telco said without the impacts of the pandemic, it would have reported low single-digit growth.
"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," CEO Kelly Bayer Rosmarin said.
"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.
"Whilst 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