Overview Key strengths Key risks Strong market position as owner of the dominant fixed-line telecommunications wholesale access network in New Zealand. Network volume risks from wireless substitution and line loss to local fiber companies. Predictable and stable earnings and cash flow due to the regulatory framework. Organic growth potential limited by household numbers. Record of financial policies that support creditworthiness. . In fiscal 2023 (ending June 30, 2023), Chorus' revenues from fiber that are subject to the regulatory regime accounted for about 70% of the total, up from about 66% in fiscal 2022. We expect the proportion of regulated revenue to rise as fiber uptake increases with demand for faster and more reliable connection. We also expect Chorus to continue
