Revenue has increased 21% and EBITDA has turned around by AU$2 billion for NBN.
NBN reported posting its first set of positive earnings before interest, tax, depreciation, and amortisation (EBITDA) for a full year on Tuesday, with the number shifting from a AU$650 million loss last year to AU$1.35 billion at the end of June. Revenue for the company increased 21% to AU$4.6 billion, while AU$3.6 billion of depreciation and amortisation and AU$1.6 billion in finance costs saw NBN walk away from fiscal 2021 with a net AU$3.8 billion loss, an improvement of 27% on last year. During the year, the company responsible for the National Broadband Network said it added 933,000 connections to its network, while once again, residential average revenue per user remained stuck at AU$45. Including business connections, NBN needs average revenue per user of AU$51. With the network being declared built and fully operational in December, NBN said capital expenditure was down 45% to AU$2.
