NBN almost doubles turnover in FY 2018

16 Aug 2018

NBN Co, the company tasked with overseeing the construction of Australia’s National Broadband Network (NBN), has revealed that in the year ended 30 June 2018 it generated revenues of AUD1.98 billion (USD1.43 billion), almost double the AUD1.00 billion it recorded in the previous fiscal year. Operating expenses were also up, however, reaching AUD2.08 billion in the year under review, compared to AUD1.83 billion in FY 2017. EBITDA was reported at negative AUD2.05 billion, although when excluding ‘subscriber costs’ EBITDA stood at negative AUD103 million, a notable improvement on the negative AUD826 million reported a year earlier. NBN Co also continued to post an operating loss, with this totalling AUD4.19 billion for FY 2018, compared to AUD3.87 billion in the previous year.

In terms of the company’s key operational metrics, NBN Co confirmed that a total of 7.04 million premises were classified as ready to connect to its infrastructure as at end-June 2018, up from 5.44 million a year earlier. With regards to active end users, by mid-2018 a total of 4.036 million customers were online via the NBN, with the largest proportion of those – 2.072 million – connected via fibre-to-the-node (FTTN) technology. Increasingly customers are also opting for faster services, NBN Co confirmed, with 37% of users at mid-2018 signed up to a plan offering download/upload speeds of 50Mbps/20Mbps, up from just 4% connecting at such speeds a year earlier. Average revenue per user (ARPU), meanwhile, stood at AUD44 per month in FY 2018, up marginally from AUD43 a year earlier.

Australia, NBN Co