NBN Rollout Figures Hurt Telstra Guidance
Telstra has been forced to cut its revenue forecasts by $300 million for financial year 2019, due in large part to extended delays in connecting the National Broadband Network.
The company announced today that revenue would now fall somewhere in the $26.2 billion to $28.1 billion range.
It also announced an expected fall in EBITDA of $100 million to the ASX.
Telstra had previously warned investors that its guidance was based on best estimates of the NBN rollout and it would need to revisit those statistics once NBN had outlined its projections for the year ahead.
NBN’s corporate plan, released last Friday, also included a blowout in the total cost of the network to $51 billion and further connection delays which were deferring the payments the government-owned network needs to make to Telstra every time a premises is declared ready.