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NBN Doubles Users Over The Year, Now 1.1 Million

NBN Co’s full-year results show that 1.1 million homes and businesses now have an active NBN service, with the multi-technology mix rollout having this year seen the introduction of the Sky Muster satellite service, fibre-to-the-node and hybrid fibre-coaxial technologies.

NBN Co states that it grew its active NBN home and business services from 486,000 to the 1.1 million total over the course of the year, with the number of premises able to order an NBN service growing from 1.2 million to 2.9 million.

With the increase in end-users, NBN Co’s revenue grew 157 per cent year-on-year to $421 million. Average revenue per user grew from $40 to $43 year-on-year.

NBN Co posted an EBITDA loss of $1.57 billion, up from a loss of $1.13 billion year-on-year, with its total expenses having grown 54 per cent to $1.99 billion.

“NBN has met or exceeded every target the board set for FY2016,” NBN Co CEO Bill Morrow commented. “This is the ninth consecutive quarter of meeting or exceeding targets.

“As we have confirmed throughout the year, the rollout of the NBN network is very much on track. Today, nearly two thirds of the nation’s premises are currently in design, in construction or able to order an NBN service, and that is tangible progress.”

The majority of the NBN’s users are using fibre-to-the-premises (822,652), followed by fibre-to-the node (119,694), fixed wireless (117,514) and satellite (38,764).

All major products in NBN Co’s multi-technology mix have now been launched.

“The NBN rollout has now built considerable momentum and we are quickly ticking off our milestone targets,” Morrow stated. “The NBN network remains one of the most complex projects to complete and we are now underway with the task of doubling our build again in this financial year.”

NBN Co is targeting 5.4 million premises ready-for-service, 2.3 million active premises and around $0.9 billion in total revenue for the 2017 financial year.

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