The NBN Co has announced an increase in its total revenue to $1.98 billion, reporting solid improvement on customer experience metrics throughout the 2017/18 financial year.
The company made progress against its goal to complete the network build by 2020, declaring 8.1 million premises ready for service and seven million premises ready to connect. At the end of FY18, more than 70 per cent of the total network construction was complete and more than 60 per cent of Australian premises could connect to a service over the nbn access network.
Together with retail service providers (RSPs), the company increased total activations by 65 per cent to reach four million at 30 June 2018, up from 2.4 million at the end of FY17.
This progress on activations, combined with a lift in ARPU to $44 in the first half of the financial year, helped the company nearly double total revenue to $1.98 billion for the 12 month period.
NBN Co management prioritised an extensive program of initiatives to enhance end-user customer experience during FY18 and saw significant improvements across all key focus areas, including more effective installations of nbn equipment and meeting agreed timeframes with RSPs for restoration of faults.
These initiatives included new wholesale discount options and optimisation programs for both the HFC and Fixed Wireless networks.
NBN Co CEO, Bill Morrow, said, “The 2018 fiscal year has been an important one for the company, as we’ve balanced our commitment to get the network built as quickly as possible with our priority to help improve the service for those connected.
“We listened to consumers and industry and put end-user customer experience at the heart of all management decision making. This resulted to some short-term delays in the build and activation schedule against our 2018-21 Corporate Plan, but we know the network is in better shape today than it was a year ago.”