Report

New Street Australian & New Zealand telecommunications: 2020 Hindsight, 2021 Insight

ASX telcos (including Spark NZ and Chorus) have largely recovered from the worst of the 2020 COVID impact in share price terms, with infrastructure telcos most exposed to datacoms growth and the accelerating digital economy having the best of it including Macquarie Telecom and Next DC (both data centre operators) as well as Chorus, Vocus and Superloop (fibre access and transmission companies).
Underlyings
Chorus Limited

Chorus Limited (Chorus) is a telecommunications infrastructure company. The Company maintains and builds a network made up of local telephone exchanges, cabinets, and copper and fiber cables. The Company's product portfolio encompasses a range of wholesale broadband, data and voice services across a mix of regulated, contracted, and commercial products. Its products include fiber broadband, fiber premium, copper-based voice, data services over copper and copper-based broadband. Its fiber and copper connections provide access to the Chorus fixed lines network to enable connections to the Internet. Its infrastructure includes the physical storage and site-sharing rental services for the co-location of the third party or shared assets. The Company's field services include services in the field to protect, strengthen, and increase the available network.

Macquarie Telecom Group

Macquarie Telecom provides telecommunication and hosting services to corporate and government customers. Co.'s Hosting division focuses on providing scalable, co-location, hosting and private and public cloud services for its customers' applications. Co.'s Data Network division provides network service availability to support its customers' business application environments through Internet Protocol data network services. Co.'s Voice division provides telephony applications that addresses the business requirements of its customers. Co.'s Mobiles division provides mobile applications across multiple networks together with a range of enhancement management, reporting and cost control tools.

Singapore Telecommunications Limited

Singapore Telecommunications is engaged in the operation and provision of telecommunications systems and services, and investment holding. Co. provides a range of multimedia and Information and communications technology solutions, including voice, data and video services over fixed and wireless platforms. Within both Singapore and Australia, Co. provides mobile communications, data and Internet, national telephone, information technology and engineering, sale of equipment, international telephone and pay television. Co.'s key businesses include: Group Consumer, Group Digital L!fe, and Group Information and communications technology.

Spark New Zealand Limited

Spark New Zealand of New Zealand is the supplier of telecommunications and information, communication and technology (ICT) services in New Zealand and Australia. Co. provides telecommunications and ICT products and services, including local, national, international and telephone services; mobile services, data, broadband and internet services; information technology (IT) consulting, implementation and procurement, equipment sales; and installation services. The Co.'s portfolio of IT services include Cloud computing services, managed IT services, IT outsourcing, IT software and hardware procurement, and professional services to assist organizations with business and technology investments.

Telstra Corporation Limited

Telstra is engaged in providing telecommunications and information services for domestic and international customers. Co.'s operating segments are Telstra Retail, Global Enterprise and Services, Telstra Operations, and Telstra Wholesale. As of June 30 2016, Co. provided retail fixed data services to 3.4 million customers, retail fixed voice services to 5.7 million and domestic retail mobile services to 17.2 million customers.

TPG Telecom Limited

TPG Telecom is a telecommunications company based in Australia. Co. has three operating segments: Consumer, which provides retail telecommunications services to residential and small business customers; Corporate, which provides telecommunications services to corporate, government, and wholesale customers; and iiNet, which provides telecommunications and technology services to residential and business customers.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
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  • Asian Internet
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  • Pan European Telecom Services and Cable


Analysts
Ian Martin

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