NBN's Strong Financial Performance and Service Improvements
Key Metrics on Track for FY24 Guidance
NBN Co, the company responsible for Australia's National Broadband Network (NBN), has released its Annual Service Improvement Plan for FY24, highlighting continued progress towards meeting its financial and service targets.
Financial Highlights
In FY24, NBN Co raised just under $65 billion from debt capital markets and bank facilities. This met the guidance range of $37 billion to $39 billion set out in the company's Corporate Plan 2024. The company has also provided additional funding of up to $24 billion towards full fiber upgrades.
Service Improvements
NBN Co's key performance metrics are on track to meet FY24 guidance as outlined in the Corporate Plan 2024. The company is currently expanding Fiber to the Premises (FTTP) and has upgraded over 2 million premises in FY24.
As of February 2024, NBN Co says around 7,000 customers each week on average are placing orders to upgrade to FTTP. Additionally, the company has offered free fiber upgrades to Australians since March 2022 to encourage migration away from legacy technologies.
Komentar