It forecast for FY23 it will generate revenue in the range of $5.2 billion to $5.3 billion and Ebitda between $3.4 billion and $3.6 billion.

NBN Co generated $3.95 billion in revenue and $2.7 billion in Ebitda for the nine months to 31 March 2023.

Ebitda was up by 20% driven by revenue growth, “a continuous drive for efficiencies and simplification leading to reduced operating costs; and lower subscriber payments.”

Residential average revenue per user (ARPU) for the period was $47, with the gradual increase due to greater uptake of higher speed tier services.

Revenue from business customers increased to $827 million, up approximately 10% on the prior corresponding nine-month period.

NBN Co raised a further $5.2 billion in bank and capital markets debt in the nine months to 31 March 2023.

This debt raising included being the first Australian Government Business Enterprise to issue Green Bonds in Europe, raising €1.35 billion ($2.1 billion) from its inaugural European Green Bonds issuance in debt capital markets.

In addition to meeting its financial targets, the local operator said it is “making strong progress on its network upgrade commitments.”

It is on track to enable around 10 million premises or 90% of homes and businesses on its fixed line network to access nbn Home Ultrafast, offering wholesale download speeds from 500Mbps to close to 1Gbps by the end of 2025.

It also added it is targeting upgrades to the nbn Fixed Wireless network to enable eligible homes and businesses in the expanded footprint to access potential wholesale download speeds of up to 10Mbps.

It is eyeing that up to 85% of the expanded Fixed Wireless will deliver download speeds of up to 250Mbps.