NBN doubles telco revenue to $161 million

NBN doubles telco revenue to $161 million

Expanding its rollout has fetched $3.3 billion in capital expenditure.

NBN Co chief executive, Bill Morrow.

NBN Co chief executive, Bill Morrow.

The company building the nation’s broadband network, NBN has more than doubled its telecommunications revenue from $60 million to $161 million in the 2015 financial year ending June 30.

The number of homes and businesses with an active NBN service also doubled from 210,000 to 486,000 and the number of premises that can now order an NBN service has stretched from 553,000 to 1.2 million.

Expanding its rollout has fetched $3.3 billion in capital expenditure.

“The achievements of the past 12 months – including the recent regulatory approval of the Telstra agreement and the draft approval of the Optus deal – give us confidence that we can continue to accelerate the build,” nbn CEO, Bill Morrow, said.

“These achievements come as a direct result of refinements we have made to the organisation, including improved business processes, the resetting of relations with our delivery partners and increasing employee morale.”

For this financial year, NBN received a total of $13.2 billion in equity funding. Total Government equity contributions are capped at $29.5 billion.

In the past 12 months the ACCC delivered a draft decision approving NBN’s plans to integrate parts of Optus’ Hybrid Fibre Coaxial (HFC) cable network and to progressively migrate its HFC customers onto the nbn network.

It also commercially launched its Fibre to the Building product, and completed construction for the first 200,000 Fibre to the Node premises, which will be activated progressively from the current quarter and beyond.

The first of the two dedicated NBN satellites passed all testing procedures and are scheduled for launch on October 1, with commercial services scheduled to come online progressively from the second half of FY16.

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