nbn co’s first quarter shows strong momentum on network build, revenue growth, activations

nbn co has earned $876 million in total revenue for the first quarter of fiscal year 2020, up 41 per cent on the corresponding period in FY2019.

The company continued its strong momentum on the national broadband network rollout, declaring 335,000 additional premises ready to connect in the first quarter of FY2020.

This progress has resulted in a total of 10.2 million premises ready to connect to the nbn access network at the end of the quarter.

nbn co has maintained an average connection rate of around 40,000 new residential and business premises per week, activating an additional 500,000 premises in the three months to 30 September 2019. It closed the quarter with 6.03 million premises connected to the nbn access network.

Residential Average Revenue Per User (ARPU) was $45, up from $43 in the first quarter of FY2019, driven by the majority of new and existing customers either choosing or upgrading to wholesale speed tiers of 50Mbps and above.

At 30 September 2019, 66 per cent of residential and business customers were using retail broadband plans based on wholesale speed tiers of 50Mbps and above.

The company has generated revenue of $149 million in the first quarter of FY2020, up from $102 million in the first quarter of FY2019.

nbn co CEO, Stephen Rue, said, “During this quarter, around 40,000 Australian homes and businesses started experiencing the benefits of high-speed, secure and resilient NBN services every single week, and while we know we have much more to do in collaboration with the industry to improve customer experience, it’s pleasing to see that our overall customer satisfaction scores are improving.

“We’ll continue in our steadfast commitment to make high-speed broadband accessible to all Australians. As a result of the considerable investment we’re making in the network and the significant wholesale discounts and additional data inclusions we plan to introduce in the coming months, in conjunction with our retail partners, we will continue to enhance our high-speed broadband offering to customers.

“Working closely with our retail and delivery partners, we will help to offer the best possible experience to our valued customers, lift the digital capability of Australia, and deliver enhanced social and economic outcomes for Australians.”