The nbn have released financial results for the past year and the story is a good one. In the last 12 months ending 30th June 2016, revenue more than doubled from $164 million to $421 million (the corporate plan target was $300 million). The number of homes and businesses connected to the National Broadband Network also more than doubled from 486,000 to 1.1 million, exceeding the corporate plan target of 955,000.
It is worth remembering targets are easy to achieve when you revise them down.
The average revenue per user also increased when compared to FY2015, up $3 to $43 ARPU. It is worth noting that while 2.9 million premises could get an NBN service, only 1.1 have taken up the option. This really should be investigated and worked on given the billions of dollars spent on the project. The political football that is the NBN has undoubtedly confused consumers and much of the promotional efforts have been around the technology approaches, not the potential uses.
In the 12 months ended 30 June 2016, nbn again doubled the number of premises able to connect to the nbn network and doubled the number of end users.
One interesting statistic provided by the NBN in their results data is that an average Australian household now has 9 connected devices, with predictions that by 2020, that number will jump to 29. Unless the extra 20 devices in the next 4 years are all lightbulbs, this should be ringing alarm bells for nbn given many users on the FTTN, fixed wireless and satellite NBN connections, are already reporting poor connection speeds.
nbn CEO Bill Morrow said:
nbn has met or exceeded every target the Board set for FY2016. This is the ninth consecutive quarter of meeting or exceeding targets. As we have confirmed throughout the year, the rollout of the nbn network is very much on track.
Today, nearly two thirds of the nation’s premises are currently in design, in construction or able to order an nbn service, and that is tangible progress.
Today’s financial details for nbn are available here, but for those who aren’t interested in the weeds, they were nice enough to create their own infographic to make all the data easily consumable.
nbn says their goal is to exceed existing targets to deliver three in four homes by June 2018 and have 8 million homes and businesses connected by 2020.