They’re hardly coining it but NBN made over $356,000 in revenue during H2 last year.
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This revenue was accrued from customers paying National Broadband Network Co for activated high speed fibre services.
But thats nothing to cover expenses which ran into the millions – meaning NBN Co made a loss of $221m in final six months of 2011 – double the $104m loss recorded in H2 2010.
In total the Aussie government footed the loss NBN recorded last year to the tune of $220,567m.
Mike Quigley’s NBN Co also spent $568 million in the six months – $346m capital ex, which included $86m for fibre rollout and $12m on satellite and wireless solutions.
Another $222m was also spent by NBN Co on operating expenses.
However, it also accrued $29,319m in interest from funds sitting in financial institutions.
It is also likely increased revenue streams will lift NBN Co out of the red in the coming years, with millions of Aussie homes to be connected to the fibre network by 2015.
Other major NBN millstones listed in the government report covering July-Dec 31 was the first new housing development switched on in Western Sydney in September and the launch of Interim Satellite Service on 1 July.
At 31 December, NBN Co had work under way on 92,032 premises and brownfield sites – 12,723 premises and close to 78,000 brownfields, nationally.
14,256 premises have been passed in the mainland and 1,438 are receiving active fibre broadband services over the network, while in Tasmania the total number of premises passed by NBN stands at 3,987; while just 657 are in active service.
But its a slow process from installation to connection to fibre broadband it seems – just 110 ‘new developments’ were activated with high speed broadband by close of 2011 although far more were connected by satellite totalling 2,197 – used in rural locations – and just over 2,000 brownfields.
39 Retail Service Providers (RSPs) have signed NBN contracts including the likes of iiNet, Optus and Telstra.
125 of its customers are using existing handsets to make calls over the NBN voice ports and just one telco has successfully connected to IPTV service.