NBN Co Q3 earnings grow to $2.7B

NBN Co Q3 earnings grow to $2.7B

Revenue sitting at just under $4 billion for the third quarter.

Stephen Rue (NBN Co)

Stephen Rue (NBN Co)

Credit: NBN Co

NBN Co saw earnings before tax (EBITDA) reach $2.7 billion, a 20 per cent increase compared to the previous corresponding period during the nine-month period ending 31 March.

The network operator is claiming to still be on track to reach its full-year guidance, with revenue sitting at just under $4 billion for the third quarter.

The rise in EBITDA in particular came down to a number of reasons, NBN Co claimed – revenue growth, a drive for efficiencies and simplification leading to reduced operating costs and lower subscriber payments.

Additionally, revenue from business customers was up about 10 per cent, to $827 million.

For comparison, NBN Co’s full-year guidance is revenue within the range of $5.2 billion to $5.4 billion and EBITDA between $3.4 billion and $3.6 billion.

The network builder also claimed other elements of its business were also on track, like the enablement of 10 million premises, or 90 per cent of premises on the NBN fixed line network, to access wholesale download speeds on NBN Home Ultrafast plans, which offer speeds of at least 500 Mbps.

Fixed wireless network upgrades are also on track, with up to 85 per cent of the expanded fixed wireless footprint able to order plans up to 250 Mbps, and residential average revenue per used (ARPU) for the period increasing to $47.

NBN’s Q3 financials are largely in line with its first half results, with NBN Co Stephen Rue at the time claiming that the network builder was “on track with all key financial and operational performance metrics at the half-year to meet our full-year guidance”.


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