Home > National News > NBN reports strong financial performance in full year results

NBN reports strong financial performance in full year results

Shareholder Ministers have congratulated nbn on another strong year of performance, with nbn exceeding each of the key metrics set out in its corporate plan for the 2016-17 financial year.

In July, the rollout reached the halfway milestone and nbn reached the $1 billion annual revenue mark for the first time in 2017.

nbn’s remarkable progress on one of Australia’s largest and most complex infrastructure projects is impressive given the vast scale of the rollout and the coordination required. Right now, more than 24,000 workers are designing and building the network, and switching on services across 1850 sites across the country.

There are now more than 2.6 million homes and businesses connected to the network and around 40,000 premises are signing up to nbn-based plans with retail service providers every week.

The results show the company has set an achievable plan to complete the network by 2020.

Total premises ‘ready for service’ reached 5.7 million in the last financial year, against a corporate plan target of 5.4 million, while total activations were more than 140,000 ahead of target.

One in two Australian homes and businesses can now access the nbn, with just over 87,000 homes and businesses able to order services each week (12 weeks to 3 August 2017).

For more information and to find out when the network will be available in your area visit: www.nbnco.com.au/rollout.

Non-executive Director Appointment

The Government has appointed Mr Drew Clarke AO PSM as a non-executive Director of the Board of NBN Co Limited (nbn) for a term of three years, commencing on 22 August 2017.

Mr Clarke has extensive experience having served in a range of senior government positions. He served as Secretary of the Department of Communications from 2013 to 2015, where he was involved in the large scale review and reform of the National Broadband Network (NBN) project and developed an in-depth understanding of the telecommunications market.

Mr Clarke also served as Secretary of the Department of Resources, Energy and Tourism from 2010 to 2013 where he made substantial contributions to public policy.

Mr Clarke also served as Chief of Staff in the Office of the Prime Minister from September 2015 to April 2017.

Mr Clarke is uniquely placed to assist the nbn Board as the rollout increases in scale and the company transitions from network construction to an operational business.

Mr Clarke’s extensive government and regulatory experience will enhance the Board’s capability through to the completion of the NBN rollout in 2020.

Licensed from the Commonwealth of Australia under a Creative Commons Licence.
The Commonwealth of Australia does not necessarily endorse the content of this publication.