NBN Co Half-Year Revenue Up 46%
The NBN Co has achieved a notable 46% year-on-year lift in total revenues, notching $1.3 billion for the half-year ending December 31. The company claims it’s also on track to hit its 2020 target.
For the full-year, the NBN Co generated a loss of $4.1 billion – an improvement from recorded $4.24 billion the year prior.
The revenue lift follows a 38% year-on-year jump in premises with an active service, hitting approximately 4.6 million.
The NBN Co asserts approximately 70% of Aussie homes and businesses are now able to order a service over the NBN access network.‘Premises ready to connect’ jumped 32% YoY to 8.1 million during the half-year, after adding 1.1 million premises over the six month period.
Average revenue per user (ARPU) also lift to $45/month.
The NBN Co claims it’s on track to hit an ARPU of $51/month by FY22.
“With less than eighteen months of the roll-out remaining, there is a significant amount of work still to be done in partnership with the industry, as we continue our momentum to deliver on our biggest ever deployment year and transition into our biggest activation year,” claims NBN Co Chief Executive Stephen Rue.
“I have full confidence in our ability to reach our 2020 target as our strong track record demonstrates”
“The executive leadership team remain focused on ensuring universal broadband access to all of Australia by the middle of next year.”Disclosed in its latest monthly progress report, the NBN Co asserts 91% of equipment installations [in its control] were done correctly the first time in January 2019.
Technicians are also now meeting 87% of the agreed installation times with retail service providers.
The news comes as retailers continue to embrace new wholesale pricing discounts, with 57% of activated premises now connected to 50Mpbs wholesale download speed tier plans or above, versus 16% the same time last year.