nbn reveals first quarter results

Incurred capital expenditure of $1.063 billion
NBN CEO Bill Morrow.

NBN CEO Bill Morrow.

nbn has revealed its first quarter results showing it incurred capital expenditure of $1.063 billion and EBITDA loss of $336 million during its first quarter ending September 30.

Operating expenses were $409 million.

The number of homes ready for service increased 91 per cent to 1.38 million, compared to the same quarter last year, with average revenue per user increasing 2.9 percent to $43.

Active end users on the network increased almost 130 per cent, reaching 610,000 premises to date.

Telecommunications revenue for the quarter was up 150 per cent to $71 million, an increase of more than 150 per cent.

nbn CEO, Bill Morrow, was confident and said that was reinforced by the strong weekly build and activation run-rates as well as the launch towards the end of the quarter of the FTTN product.

“Our recent Corporate Plan, coupled with our construction plan for the next three years, covers 85 per cent of the country, with the remainder of the rollout on course to be completed by 2020,” he said.

The next technology, HFC, was on track for commercial launch in 2016, Morrow said. The recently-launched Sky Muster satellite is also poised to deliver high speed broadband to rural and remote users in the same time frame.

It has commenced an end-user pilot over Hybrid Fibre-Coaxial (HFC) cables, in Redcliffe Queensland involving 300 homes and four service providers testing the connection process and customer experience.

The nbn Corporate Plan estimates that around four million premises, residential and business, will receive high-speed broadband via HFC.