NBN Co records 45% y-o-y increase in revenue in first three months of 2019

7 May 2019

NBN Co, the company overseeing the rollout of Australia’s National Broadband Network (NBN), has published its financial results for the quarter ending 31 March 2019, revealing a 45% year-on-year increase in revenue as the number of customers with an active service over the network surpassed five million.

In the three-month period under review NBN Co generated a total turnover of AUD2.04 billion (USD1.4 billion), up sharply from AUD1.41 billion in the corresponding period a year earlier. Capital expenditures for the third quarter of its current fiscal year (ending 30 June 2019) totalled AUD4.29 billion, broadly unchanged from AUD4.25 billion in the opening three months of 2018, with spending on the company’s HFC infrastructure accounting for the largest portion of this – AUD1.17 billion, up from AUD995 million.

In operational terms, as at 31 March 2019 a total of 8.835 million premises were classified as ready to connect, up from 6.491 million a year earlier, with the largest number of those – 4.105 million, up from 3.407 million – covered by fibre-to-the-node (FTTN) technology. HFC coverage saw the biggest increase, with the number of premises within reach of this technology type reaching 1.445 million at end-March 2019, up from 443,681 a year earlier.

With regards to the number of active connections, NBN Co said that a total of 5.062 million premises were being served via its infrastructure at the end of the reporting period, up from 3.723 million. More than half of these were connecting over the company’s FTTN infrastructure (2.591 million, up from 1.807 million), with FTTP and HFC accesses numbering 1.295 million (Mar-18: 1.188 million) and 666,521 (413,703), respectively.

Australia, NBN Co