Chorus Limited (ASX: CNU) announced on 29 May 2026 the submission of its 2025 fibre fixed line access services (FFLAS) Information Disclosure report. This comprehensive report details the company’s regulatory performance and financial information for the disclosure year, formally provided to the Commerce Commission for review. Chorus is New Zealand’s largest telecommunications infrastructure provider, responsible for building, maintaining, and operating the country’s fibre optic network, providing wholesale broadband services.
A central component of the disclosure is the calculated increase in Chorus’s regulated asset base (RAB). The RAB grew from $5.9 billion in 2024 to approximately $6.0 billion by the close of 2025, underscoring ongoing network investment. Within this figure, the core RAB rose by $0.2 billion, reaching $5.1 billion in 2025. Concurrently, the Financial Loss Asset (FLA) lowered to $0.9 billion for the year, influenced by depreciation, revaluations due to inflation, and newly commissioned assets.
The company’s report also indicated it under-earned its maximum allowable revenue for 2025, a development in line with expectations. Recorded revenues were $101 million below the allowed maximum. This under-earning, alongside various other adjustments outlined in the detailed disclosure, resulted in a wash-up balance of $76.3 million. This balance is designated to be carried forward to the forthcoming Price-Quality Period 3 (PQP3).
Chorus highlighted that the figures presented, including RAB movements and wash-up balance calculations, remain subject to thorough assessment and review by the Commerce Commission. The full details supporting these calculations and other summary financial information are available in the accompanying presentation.
