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nbn reports strong financial performance in full year results

Joint media release

Minister for Finance
Senator the Hon Mathias Cormann

Minister for Communications
Senator the Hon Mitch Fifield

Shareholder Ministers today 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

Media contacts:

Karen Wu | 0409 679 924 | Karen.Wu [at] finance.gov.au

Geraldine Mitchell | 0407 280 476 | Geraldine.Mitchell [at] communications.gov.au