By Digifin Pty Ltd · About this coverage
Key Points
- Service revenue $2,071m, up 0.5%; Mobile service revenue up 3.1% to $1,224m
- Statutory continuing operations NPAT $35m, against $32m in HY25
- Interim dividend 10.0 cents, up 1.0 cent, franked at 25%
- FY26 guidance unchanged, excluding material one-offs: EBITDA $1,665m-$1,735m, capex additions ~$750m
- Mobile subscribers up 64,000; ARPU $35.21, up 24 cents on the pcp
About TPG Telecom (ASX:TPG)
TPG Telecom Limited is an ASX-listed telecommunications company headquartered in Sydney. It sells mobile services on its own network, extended in regional Australia through a network-sharing arrangement with Optus, and fixed home internet delivered over the National Broadband Network and its own fixed wireless network, under brands including Vodafone, TPG, iiNet, Internode and felix. Its customers are Australian consumers and small businesses.
TPG Telecom (ASX:TPG) reported service revenue of $2,071 million for the half year ended 30 June 2026, up 0.5%, on a statutory continuing operations basis, which the release states applies to all figures unless otherwise stated. Mobile service revenue rose 3.1% to $1,224 million on an increase of 64,000 mobile subscribers and average revenue per user of $35.21, up 24 cents on the prior corresponding period, while home broadband service revenue fell 1.9% to $827 million. Operating costs were $508 million, up 0.2% from $507 million. EBITDA was $821 million, up 1.0% on reported HY25 EBITDA of $813 million and up 4.7% on pro forma HY25 EBITDA of $784 million; on the guidance basis, which excludes material one-offs, the increase was 4.5% against pro forma HY25 of $786 million. The pro forma basis reflects continuing operations and assumes the new commercial arrangements arising from the July 2025 sale of the fibre network infrastructure assets and the enterprise, government and wholesale fixed business to Vocus Group were in place for the entire period.
Net profit after tax was $35 million, against $32 million in HY25, which the company said reflected EBITDA growth and a reduction in net financing costs following the repayment of $2.7 billion of bank borrowings in late 2025, more than offsetting an increase in income tax expense after the non-recurrence of prior period tax benefits. Underlying NPATA, which excludes non-cash customer base amortisation and material one-offs, was $70 million, up 1.4%. Operating free cash flow was $199 million, up 16.4% on a pro forma basis from $171 million, and free cash flow to equity on a pro forma basis was $93 million, up $108 million from negative $15 million. The board declared an interim dividend of 10.0 cents per share, up 1.0 cent, franked at 25% and payable on 29 September 2026. FY26 guidance was unchanged at EBITDA of $1,665 million to $1,735 million and capital expenditure on an additions basis of approximately $750 million, assuming no material change in operating conditions and excluding material one-offs.
Source: TPG Telecom Limited (ASX:TPG), 21 August 2026. Summary content supplied by Digifin Pty Ltd.
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