18 February 2019
The Government welcomes the half yearly results of NBN Co, which confirms the company is exceeding its connection and financial targets.
NBN Co’s 2018-19 half-year results show strong performance and growth in activations and revenue with the company powering ahead to connect all Australians to fast broadband by 2020.
The latest results confirm the company’s solid performance across all metrics and provides further evidence of the benefits of the Coalition’s faster, more affordable NBN rollout.
In the six months to 31 December 2018, NBN Co’s revenue reached $1.3 billion. This is a record 46% increase compared to the six month period ending 31 December 2017.
This level of revenue growth is supported by an uplift in ARPU to $45 and this could only be achieved because the NBN is being connected to more premises, more quickly than ever before.
NBN Co continued its solid progress in the six month period activating over 600,000 homes and business to the network, taking the total to 4.6 million active customers nationwide – a 38% increase from December 2017.
The results confirm an increased take up of higher speed tiers with 56% of all NBN connected premises now on 50 Mbps plans or higher, increasing from 560,000 to 2.7 million premises in the 12 months since December 2017.
With thousands signing up to the NBN every day, the extensive work over the past year to improve consumer experience on the network has delivered real benefits for consumers.
Nearly three-quarters of all Australian homes and businesses can now access an NBN service, and the company is on track to reach every Australian household by 2020.
For more information about the NBN rollout visit: www.nbnco.com.au