news NBN Co has announced that it has exceeded its “core” targets for financial year 2016 and said the rollout of the National Broadband Network is “very much on track”.
“In FY2016 we reached significant milestones for our business, achieving 2.9 million premises ready for service and more than one million users on our NBN network,” said NBN CEO Bill Morrow.
In the 12 months up to 30 June, the NBN doubled the number of premises within the footprint of the NBN network and also doubled the number of end users, according to the firm’s figures.
Additionally, with 126% growth in the number of end users on the network, revenue has climbed 157% to $421 million.
Of the 2.9 million premises within the NBN footprint, 70% are in non-metro and regional Australia.
“NBN has met or exceeded every target the Board set for FY2016. This is the ninth consecutive quarter of meeting or exceeding targets,” the CEO said. “As we have confirmed throughout the year, the rollout of the NBN network is very much on track.”
Morrow added that “nearly two thirds” of Australia’s premises are now “in design, in construction or able to order an NBN service”.
“[T]hat is tangible progress,” he said.
According to the NBN statement, during FY 2016, NBN Co brought three new products to market in order to complete its ‘multi-technology mix’ (MTM) blend of technologies aimed to bring about a faster, less costly rollout than with pure fibre: Fibre to the node (FTTN) in September, the Sky Muster satellite service in April and HFC (hybrid fibre coaxial) in June.
“The NBN team has been working together with our delivery partners to rollout the NBN network to more Australians than ever before – today, one in four homes can order an NBN service,” said Morrow.
Saying that the NBN rollout has now developed “considerable momentum”, Morrow added that the NBN network is “one of the most complex projects to complete”.
“[W]e are now underway with the task of doubling our build again in this financial year,” he said.
“My management group and I are confident that the plan, industry partnership and talented team now assembled are able to continue to meet challenges as we head towards our 2020 goals,” the NBN chief concluded.
Image credit: NBN company