New-look nbn continues to gather steam

Robust growth in revenue, serviceable premises, and construction rollout were the key takeaways from nbn‘s latest financial report.

nbn has recently released its unaudited primary financial statements for the period ending 31 March 2015, showing healthy growth in key indicators including serviceable premises, connection activations and revenue.

The financial results showed a near-doubling of serviceable premises compared to last year, with almost 900,000 homes and businesses able to order an nbn service.

nbn also reported a 20 per cent increase in activations since December 2014 and $A106 million in telecommunications revenue.

However, the company incurred an EBITDA loss of $A785 million due to its ongoing build phase and plans to escalate its mixed-technology rollout.

The company also reported $A2.2 billion in capital expenditure for the period and operating expenses of $A893 million.

nbn CEO Bill Morrow said the results puts the company on the path to achieving a target of one million serviceable premises, 480,000 activations and $A150 million in revenue, boosted in part by the company’s recent rebranding.

“The recent repositioning of the nbn brand from that of a utility function to a visionary company that will deliver positive benefits for every Australian will also help materially drive activations and bring forward revenues,” said Mr Morrow.

The company continues to anticipate that ACCC approval of its agreements with Telstra and Optus for use of certain copper and HFC assets will be finalised as soon as possible.

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