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.
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.
“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.
“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