Australia’s NBN Co generated total revenue of $4.6 billion in FY21, an increase of 21 per cent year-on-year.
Driving the solid revenue performance was the addition of 933,000 residential and business premises that connected to the nbn network in the last 12 months and a total of 8.2 million premises connected to the network at 30 June 2021.
NBN Co Chief Executive Officer, Stephen Rue, said:
“The last 12 months have been very challenging for most Australians, but our purpose has never been clearer. NBN Co exists to lift the digital capability of Australia and we reiterate our commitment to provide a secure, reliable, high-speed broadband network to our residential and business customers across the country.”
“As the nation faces into new challenges with the lockdowns that were recently imposed in New South Wales, Victoria, Queensland and South Australia, we will continue to support customers and internet retailers through these uncertain times. The nbn™ network is the digital backbone of the nation that will continue to keep Australians connected and productive, educated, informed and entertained today and in the future.”
Some highlights:
- Customer demand for the higher speed tiers remained strong throughout FY21 with 75 per cent of customers on retail plans based on wholesale download speed tiers of 50 Mbps and above at 30 June.
- By 30 June 2021, 17 per cent of residential customers were using plans based on wholesale speed tiers offering download speeds of up to 100 Mbps and above, compared to 9 per cent of premises on download speeds of up to 100 Mbps and above at 30 June 2020.
- Following the completion of the initial build by 30 June 2020, capital expenditure for FY21 was $2.8 billion, down 45 per cent on FY20.
- Throughout the fiscal year, capital was allocated to 933,000 new connections, design and construction activity to make an additional 233,000 premises ready to connect, capacity upgrades across the network, and its national network upgrade program, which aims to deliver access to nbn Home Ultrafast services to up to 75 per cent of premises connected to the nbn fixed line network by the end of 2023.