Home Telecoms & NBN NBN Co records $4.1b loss for full-year 2018
NBN Co records $4.1b loss for full-year 2018 Featured

NBN Co, the company rolling out Australia's national broadband network, the NBN, has recorded a loss of $4.1 billion for the full-year 2018, according to results announced on Thursday.

This is less than the loss of $4.24 billion for the full-year 2017, but much more than the $2.75 billion loss the company posted for the full-year 2016.

NBN Co chief financial officer Stephen Rue said the company had earned $566 million in revenue for the quarter, a rise of 68% over the $336 million earned in the corresponding quarter a year ago. Revenue for the year almost doubled, coming in at $1.9 billion, compared to $1 billion for full-year 2017.

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The company could not increase its average revenue per user during the quarter, with the figure remaining at $44. NBN Co has said in the past that if it wants to break even, then it needs to reach an ARPU of $52. At the end of the full-year 2017, the ARPU was $43.

Asked about this, Rue said he would address it during the announcement of the company's next corporate plan on 31 August. 

NBN Co chief executive 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.

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“It’s improvements in customer experience that define our success for the financial year and we’re seeing end-user satisfaction shift as a result.

“We’re demonstrating continued progress against our goal to complete the build by 2020. Today, we have 4.2 million activations on a network that is 75% built and with 99% of premises in design, construction or complete.”

The company reported the following statistics as proof of its progress on rolling out the network:

  • Ready to connect – There are more than 7.1 million Australian homes and businesses who are able to connect to the NBN Co access network – compared with 5.6 million in July 2017.
  • Connected homes and businesses – There are 4.2 million homes and businesses connected to a plan over the NBN Co access network – compared with 2.6 million in July 2017.
  • Installed right the first time – There are 93% of homes and businesses who had their equipment within NBN Co’s control installed right the first time – compared with 87 per cent in July 2017.
  • Meeting agreed installation times – There are 94% of homes and businesses who were connected within the agreed timeframes with phone and internet providers (excluding Priority Assistance connections and Accelerated Connections) – compared with 88% in July 2017.
  • Average network bandwidth congestion – Average bandwidth congestion across the NBN Co access network (excluding Sky Muster) is around 28 minutes per week per premises, compared with 4 hours and 52 minutes per week in July 2017.
  • Fixed line congestion – There are 0.036% of all homes and businesses connected to the NBN Co Fixed Line access network who have experienced network congestion – compared with 0.017% in July 2017
  • Uptake to higher wholesale plans – There are 47% of homes and businesses on a 50Mbps (download) wholesale speed plan or higher – compared with 16% in July 2017. This metric also includes 25-50Mbps (download) wholesale speed plans.
  • Network availability – The NBN Co access network was up and running 100% of the time – compared to 99.9% in July 2017.
  • Meeting agreed fault restoration time – There are 91% of individual service faults resolved with phone and Internet providers within the agreed time frames – compared to 77% in July 2017.
  • Faults per 100 connected homes and businesses – There are an average 0.9 per 100 homes and business who experienced an individual service fault on the NBN Co access network this month – compared to 1.0 in July 2017.

Graphics: courtesy NBN Co

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the sitecame into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

 

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