NBN Co expects to double the number of users connected to the NBN over the next year - setting a target of 480,000 users with the release of its annual results.
According to the results, NBN Co hit its 2014 targets by doubling premises ready for service, tripling services activated and quadrupling its revenue.
In the past 12 months, the nationwide NBN activity footprint broadened to cover approximately 1.4 million premises where work is complete or in progress (build preparation, physical construction, and activated services).
The number of premises that can order an NBN service more than doubled to 553,000 premises, up from 227,000 in the previous financial year
The number of active NBN users tripled, up from 70,000 a year ago to 210,000 today.
The expansion of the network resulted in telecommunications revenues rising fourfold to $61 million.
Average Revenue Per User (ARPU) remained stable at $37.34 per month, while capital expenditure and operational expenditure was $2.5 billion and $1.1 billion respectively
However the government has injected $8.4 billion equity funding over the course of the year.
NBN chief executive, Bill Morrow said the company had continued to make significant headway in transitioning to the Optimised Multi-Technology Mix.
“Our plan is to provide one in 10 Australian homes and businesses the ability to connect to the National Broadband Network (NBN) in FY2015 as we work to double the number of premises serviceable,” he said.
Morrow said the past year had been a period of enormous change and transformation for NBN.
“We have stabilised the existing rollout, strengthened our relationships with our construction partners and are making significant headway in transforming the company," he said.
"We are well placed to continue to grow.
“These achievements are a result of hard working contractors, third party partners and our highly motivated people under the direction of a new leadership team,” he said.
Recently, NBN Co recently reached a non-binding framework with Telstra for the renegotiation of the Definitive Agreements between the two companies, including the progressive acquisition of some of Telstra’s copper and Hybrid Fibre Coaxial (HFC) assets.
The company confirmed it had also commenced negotiations with the SingTel Group for the progressive purchase of some of its Optus HFC assets.
However, NBN Co has also taken Telstra to the NSW Court of Appeal to fight $200 million in paytments relating to the $11 billion deal that saw Telstra allow access to its pits and pipes for the network.
The disagreement arose from the a difference of opinion over when a CPI increase would take effect under the contract.
The company has also initiated construction trials for the deployment of Fibre-to -the Node (FTTN) in parts of NSW and Queensland.
According to NBN Co, it is anticipated that the first of about 250,000 premises covered by these trials will become serviceable from the middle of the 2015 calendar year.
"Premises connected to FTTN in Umina Beach on the NSW Central Coast are delivering internet download peak speeds to the network boundary point of around 100 Mbps," an NBN spokesperson said.
"They also delivered upload speeds of around 30 Mbps. This was at distances of more than 500 metres."