Displaying items by tag: Stephen Rue

NBN Co reported total revenue of $2.5 billion for the six months to 31 December 2021, a 12% increase on H1 FY21.

In the last couple of weeks we have witnessed assertive correspondence between the industry and NBN Co. Here is a summary what has taken place and what it means.

NBN Co generated total revenue of $4.6 billion in FY21, an increase of 21% year-on-year. Driving the revenue was the addition of 933,000 residential and business premises that connected to the network in the last 12 months and a total of 8.2 million premises connected to the network at 30 June 2021.

More than 600 technicians employed by the NBN Co, the company rolling out Australia's national broadband network, will walk off the job on Wednesday as part of a national day of action.

The company rolling out Australia's national broadband network has reported revenue of $3.5 billion for the first nine months of the financial year 2020-21, with no breakdown offered for the third quarter alone.

A total of $78 million in bonuses was paid to employees of NBN Co, the company that is rolling out Australia's national broadband network, in the 2020 financial year, when the country went into recession.

The NBN Co, the company rolling out Australia's national broadband network, says it has exceeded both revenue and EBITDA for the first half of the current financial year, which could put it in a position to achieve positive full-year results for the first time. Losses fell from $2.817 billion for the first six months of 2019 to $2.113 billion for the first six months of the current financial year.

NBN Co has been named Sydney Festival’s first Regional Partner in a move the National Broadband operator says will help connect audiences across Australia with creative content and cultural performances.

The union representing workers at the NBN Co has levelled strong criticism at the company over the fact that chief executive Stephen Rue has given himself a $1.2 million bonus while overseeing a cost blowout of $6.7 billion and not taken 300,000 premises into account in the rollout plan.

The NBN Co has indulged in various kinds of spin over the years to project itself as an organisation that is doing a brilliant job at rolling out a broadband network in Australia and thus its latest stunt, to keep some of its accounts hidden and reveal them only at the half-year and full-year results stages, should not come as a surprise to anyone.

The operator of the national broadband network, NBN Co, is trumpeting strong momentum and earnings growth, recording quarterly earnings of $102 million in the three months ending September 2020, compared to a loss of $435 million in Q1 FY2020 – and with total revenue of $1.07 billion for three months, up 22% on the corresponding quarter last year.

The NBN Co is beginning work this week to extend fibre into some metropolitan and regional areas in NSW, Victoria, Queensland, South Australia and Western Australia.

National Broadband Network operator NBN Co has come under fire from the CEPU Communications Union for the “outrageous” salary of network chief Stephen Rue, after his axing of hundreds of jobs in the middle of a pandemic and while “overseeing a shonky” NBN network rollout.  

Wanting to work together on national research projects that combines the expertise and resources of both organisations, NBN Co and CISRO will strengthen research and planning for Australia's needs in the post-COVID digital age.

The building of the National Broadband Network will create a total of 25,000 jobs across the economy in two years, including almost 10,000 in regional Australia, according to newly released economic impact analysis.

The NBN Co, the company rolling out Australia's national broadband network has announced it will spend up to $700 million on creating 240 Business Fibre Zones, including a presence in 85 regional centres.

The annual losses incurred by NBN Co, the company rolling out Australia's national broadband network, have been halved in 2019-20 year-on-year, according to the company's results which were announced on Tuesday.

As the COVID-19 pandemic surges again, the company that is rolling out Australia's broadband network has announced it would be sacking 800 employees before the end of the year.

NBN Co says it has achieved or exceeded its National Broadband Network construction targets for 25 consecutive months by more than 230,000 premises, making 11.73 million premises ready to connect by 30 June this year.

The Federal Government says national broadband network operator NBN Co has demonstrated “operational and financial resilience” during the initial phase of the COVID-19 pandemic and has welcomed the company’s “strong” 2019-20 third quarter results.