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NBN Co Full Year Revenue Soars 98%

The NBN Co has post a whopping 98% jump in total full-year revenue to $1.98 billion, following a 65% increase in activations to 4 million – up from 2.4 million last year.

Despite former customer complaints, the government-backed company claims end-user satisfaction is up 12%.

As at June 30th, the NBN Co affirms 70% of network construction is complete, with over 60% of Australian premises now able to connect to an NBN access network.

‘Ready to connect’ premises have climbed 29% to 7 million, with ‘ready to service’ jumping 42% to 8.1 million.

Average revenue per customer has also lift from $43 in FY17 to $44.

Chief Executive, Bill Morrow, claims the results demonstrate an increase in both earnings and customer service.

“It’s improvements in customer experience that define our success for the financial year and we’re seeing end-user satisfaction shift as a result.”

Morrow asserts a customer-centric focus resulted in short-term build and activation delays, however, the “network is in better shape today than it was a year ago.”

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The government-backed company claims its on track to complete the NBN build by 2020.

As previously reported, the NBN Co’s recent wholesale discount options has increased transition to ‘high-speed’ plans (50Mbps and above).

As at June 2018, over 45% of NBN end users are said to be on 50Mbps (download) wholesale speed plans or above, versus only 16% the year before.

Average bandwidth congestion across the NBN network (bar Sky Muster) claims to have dropped from over five hours per week per premise last year, to 28 minutes as at June 2018.

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