Aussie Broadband will have a new CTO from October

Aussie Broadband will have a new chief technology officer from the end of October as incumbent and co-founder John Reisinger retires.

Outgoing Aussie Broadband CTO John Reisinger

The retail service provider said that Reisinger's replacement will be Brad Parker, who is currently the chief infrastructure engineering officer.

Parker's position title will change to CTO when Reisinger's retirement comes into effect on October 31.

Fellow co-founder and group managing director Phillip Britt said he had worked alongside Reisinger "for the past 20 years", during which time Aussie Broadband transitioned from "a startup that began in our lounge room" to an ASX-listed firm with FY24 revenue just shy of $1 billion.

Aussie Broadband's FY24 revenue of $999.7 million was up 27 percent year-on-year. Net profit after tax was $26.4 million, up 21.7 percent.

Broadband connections grew 14 percent year-on-year to reach 684,299.

Aussie Broadband said it had won a number of enterprise deals, notably Bunnings Warehouse in April to supply connectivity nationally to 350 sites.

It also won work to "streamline network infrastructure" for Hitachi Construction, communication systems projects at Austin Health and Mercy Health, and work with Pedders Suspension and Brakes, burger chain Grill'd, and petroleum company United.

Origin offboarding

Aussie Broadband indicated some company restructuring would be required in response to losing wholesale customer Origin Energy earlier this year.

The broadband builder is intending to make its “organisational structure more efficient”, with CEO Phil Britt telling the Australian Financial Review that this would involve headcount reduction.

In its FY24 results, the company added that there would be a “strong focus on operational efficiencies and rightsizing the organisation post-the Origin transition”.

"We have begun the work of making our organisational structure more efficient," CFO Andy Giles Knopp said. “We have commenced a consultation process with our teams.”

The ASX-listed company gained $27 million in revenue from its Origin Energy deal in FY24.

There are some direct offboarding costs - mostly covered by margin from those services - though another $12 million of cost will have to removed over FY25 as well.

Origin Energy’s 130,000 broadband customers are set to be fully migrated from Aussie Broadband to Superloop-based services by October.