Senator the Hon Mathias Cormann

The Government welcomes NBN Co’s 2019-20 half year results, which demonstrate continued strong performance across key financial and operational targets.

Finance Minister Mathias Cormann said the company’s strong results show it is on track to meet its performance targets outlined in the 2020-23 Corporate Plan.

“NBN Co achieved a total revenue of $1.81 billion in the six months to 31 December 2019 – a 39 per cent increase on its 2018-19 half year results,” Minister Cormann said.

“In the residential segment, Average Revenue Per User (ARPU) increased from $43 to $45 compared to the same period last year, while business revenue increased from $214 million to $319 million.”

Minister for Communications, Cyber Safety and the Arts the Hon. Paul Fletcher MP said: “NBN Co continues to provide more Australians around the country access to fast broadband.

“667,000 Australian homes and businesses were made Ready to Connect in the six months to December 2019, taking the total number of premises able to order an NBN service to 10.5 million. Of those, 6.4 million premises have active connections, up 38 per cent from half year 2018-19.

“The significant progress means the NBN rollout is now more than 90 per cent complete – a considerable achievement that builds on the company’s 2018-19 results.

“When Labor left office in 2013, NBN had barely more than 50,000 premises connected to the fixed line network.  By contrast our Liberal National Government has had a relentless and continuing focus on delivery - and NBN’s latest results show that focus is paying off.”

NBN Co has a strong, continuing work program to complete the rollout of the network, including to complex premises such as cultural heritage sites, and to lifting Australia’s digital capability by delivering services that meet the broadband needs of Australians.

For more information on the NBN rollout and how to connect visit: www.nbnco.com.au