Wednesday, 31 October 2018 20:21

NBN Co continues to rack up losses with broadband rollout Featured

By

Losses continue to mount in the rollout of Australia’s national broadband network, with an after tax loss of $4780 million for the 2018 financial year, still two years out from scheduled completion in 2020.

NBN Co, the company building the network, reported 2018 annual results on Wednesday, generating total assets of $28,203 million — an increase of 17% year-on-year — primarily driven by various capital expenditure outlays, including property and plant and equipment.

This latest loss comes after Federal Government equity injections of $2,035 million for the year, bringing the government’s total committed equity funding to $29.5 billion.

With two years still to run for the rollout, by the end of the 2018 financial year, seven million premises had been declared ready to connect, which NBN Co says allows about 60% of Australian premises able to order a service over the NBN.

And, together with retail service providers, NBN Co reported it had activated broadband services over the NBN network to four million premises during the year.

NBN Co also reported what it says is a “significant growth” in revenue for the 2018 year, driven by the increased take-up of services over the NBN network as the rollout progresses.

Total revenue for the 2018 financial year increased by $977 million (98%) to $1978 million, with a net loss after tax of $4780 million.

NBN Co says telecommunications revenue increased from an average revenue per user of $43 in the previous year to $44 for 2018, mainly driven by demand for CVC (the fee imposed on RSPs per unit of bandwidth they buy) capacity by RSPs as end users continue to consume more data.

And during the year NBN Co increased its number of employees from 5965 to 6184, and was supported by about 670 temporary contractors.

Read 4920 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

SONICWALL 2022 CYBER THREAT REPORT

The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Ransomware
Cryptojacking
Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.

GET REPORT!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments