NBN On Track to Connect 8 Million By 2020

NBN CEO Bill Morrow confidently announced his team’s progress in rolling out a faster and cheaper national broadband network all across Australia and reaching the set targets of the company during the presentation of the nbn^® half year report for 2016.

“Today’s result solidifies 2015 as a year where we met or exceeded every target the board set for the company, and is a clear signal we will reach our fiscal year goals. There is accelerated growth across all areas of the network, while important milestones are continually achieved with customers, industry partners and the NBN workforce. The organisation is focused on delivering our full year commitments and on bringing the benefits of fast broadband to more and more communities across Australia.”

-Bill Morrow

Morrow stressed the need to continue to scale rapidly and efficiently, highlighted the importance of the national broadband network for Australia’s future, and reiterated his company’s commitment to reach the goal of providing fast internet access to 8 million homes and businesses across the country by 2020.
Morrow pointed out that based on initial research results, the users of FTTN and FTTP connected homes have the same high levels of satisfaction, with both scoring at 7.7 out of 10 for use of the technology. Fixed Wireless customers gave the highest satisfaction score to their service at 8.1 out of 10. Customer account activation of NBN Broadband Plans has dramatically increased due to fast Internet speed that delivers a brilliant online experience.
Some of the key figures in the report include:

• AU$164 million total revenue, an increase of 152% compared to HY2015

• 736,052 premises activated, an increase of 128% compared to HY2015, breaking the threshold of 10,000 activations per week in December last year

• Nearly 1.7 million premises are ready for service, adding 450,000 homes and businesses to the nbn^® footprint

• Active end users as of the end of December 2015: 36,003 on satellite, 82,435 on fixed wireless, 6,636 on fibre to the node (FttN), and 610,978 on fibre to the premises (FttP)

• AU$1 billion cash and cash equivalents at the end of the period, a 103.9% increase over the AU$491 million reported for the same period in 2014

• AU$43 average revenue per user (ARPU), a 10% increase from the AU$39 ARPU reported for H1 FY15

NBN Chief Financial Officer Stephen Rue said these positive results can leverage the company to tap debt markets in the future. $49 billion is the proposed budget of the project. According to Rue, the existing government funding of $29.5 billion would be used up by June 2017. He said NBN expects to target banks and the bond market, instead of private equity, for $19.5 billion in future funding.
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