NBN Co On Track To Smash FY21 Financial Target
NBN Co has posted $3.5 billion in revenue for the first three quarters of the 2021 financial year, putting it 20 per cent ahead of earnings from the corresponding FY2020 period.
With a revenue goal of $4.5 billion, it means the company only has to post an additional $1 billion in the quarter ending June 2021 to reach their target.
“Revenue was particularly strong, largely due to new customer activations on the network and upgrades to higher-speed services,” NBN Co chief executive Stephen Rue explains.
“We are well placed to achieve our FY21 total revenue target.”
EBITDA were also up to $895 million, making the target of $1.3 billion also well within reach.
“We expect to achieve our FY21 EBITDA target of $1.3 billion,” Mr Rue continued, explaining how the company is further expanding coverage.
“We are making excellent progress on our $4.5 billion network investment program, having identified and announced the suburbs and towns that will comprise the first 1.1 million of 2 million premises that will benefit from our extension of fibre deeper into communities.”