Due to new activations and increase in ARPU. Credit: Supplied Art (with Permission) NBN Co's revenue over the 2022-23 financial year has surpassed $5.2 billion, rising 3 per cent year-on-year, due in part to new activations and an increase in the residential average revenue per user (ARPU). Specifically, the revenue figure landed at $5.27 billion, which, according to the National Broadband Network (NBN) builder, falls within its guidance of $5.2 billion to $5.4 billion. The growth in telecommunications revenue was driven by increased activations, particularly in its residential segment, which rose to $47 ARPU as more customers took up whole download speed tiers at 100 Mbps and above. Business revenue was also up 8 per cent, to $1.1 billion while earnings before interest, tax, depreciation and amortisation (EBITDA) was up 15 per cent, to $3.6 billion. The network builder also said it was on track to allow 10 million premises to access NBN Home Ultrafast plans, which offer wholesale download speeds of at least 500 Mpbs - a statistic it announced at the end of last month. As for its ongoing Fibre Connect network upgrade, NBN Co said it is making "good progress" with its transition from copper to full fibre. It also said that the final 500,000 premises to receive upgrades by way of investment from the federal government are expected to be announced during FY24. NBN Co CEO Stephen Rue said the network builder met key performance metrics and full year guidance set in its 2023 corporate plan. "Looking ahead, we remain committed to delivering great outcomes for customers while maintaining a productive relationship with industry participants as we work toward acceptance of the SAU Variation," he said. "Sustainable long-term pricing will underpin future investments in the NBN network to ensure we continue to serve and keep pace with the nation's digital needs." Rue also said NBN Co is close to submitting its revised SAU, which was previously rejected by the Australian Competition and Consumer Commission (ACCC) in May. Related content news John Griffin appointed as Logicalis Australia CTO His ability to build key technical relationships with strategic vendors and service providers will further enhance Logicalis Australia's capabilities. By Julia Talevski 29 Apr 2024 2 mins Managed Service Providers Careers IT Leadership news Fintech provider BidFin acquired by humm Needed to consider a “strategic transaction” to meet the growing needs of its customers. By Sasha Karen 29 Apr 2024 2 mins Mergers and Acquisitions Industry Business Operations brandpost Sponsored by Ingram Micro Tapping the source: Ingram Micro’s sustainable power operations By Ingram Micro 29 Apr 2024 4 mins Renewable Energy brandpost Sponsored by Ingram Micro Ingram Micro is reinventing the way it does packaging and logistics – here’s how By Ingram Micro 29 Apr 2024 4 mins Green IT SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe