NBN Co recently reported in its latest quarterly performance report that it had earned AU$876 million in total revenue for Q1 FY20 (July-Sept 2019), up 41% on Q1 FY19. The Company also claimed to maintain its momentum on the NBN rollout, declaring 335,000 additional premises ready to connect in Q1 FY20, resulting in a total of 10.2 million premises ready to connect to the NBN at the end of the quarter.
The report stated that NBN Co maintained an average connection rate of around 40,000 new residential and business premises per week, activating an additional 500,000 premises in the three months to 30 September 2019. It closed the quarter with 6.03 million connected premises.
Residential Average Revenue Per User (ARPU) was $45, up from $43 in Q1 FY19, driven by the majority of new and existing customers either choosing or upgrading to wholesale speed tiers of 50 Mbps and above. At 30 September 2019, 66% of residential and business customers were using retail broadband plans based on wholesale speed tiers of 50 Mbps and above.
The Company has also continued to build momentum in the business market, generating revenue of $149 million in Q1 FY20, up from $102 million in Q1 FY19.
Commenting on the report, NBN Co CEO Stephen Rue said: “We remain on track to complete the volume rollout of the network by 30 June 2020. During this quarter, around 40,000 Australian homes and businesses started experiencing the benefits of high-speed, secure and resilient NBN services every week, and while we know we have much more to do in collaboration with the industry to improve customer experience, it’s pleasing to see that our overall customer satisfaction scores are improving.
“We’ll continue in our steadfast commitment to make high-speed broadband accessible to all Australians. As a result of the considerable investment we’re making in the network and the significant wholesale discounts and additional data inclusions we plan to introduce in the coming months, in conjunction with our retail partners, we will continue to enhance our high-speed broadband offering to customers.
“Working closely with our retail and delivery partners we will help to offer the best possible experience to customers, lift the digital capability of Australia, and deliver enhanced social and economic outcomes for Australians.”