NBN Co’s latest report for the 2024/25 financial year has shown strong operational results, with NBN meeting the guidance targets set out in its 2025 Statement of Corporate Intent.
The results highlight the company’s momentum as it delivers fibre further into the network, enhances operational performance, embeds emerging technologies, and maintains a disciplined focus on cost efficiency.
Throughout FY25, Australians continued to embrace faster speeds and full fibre connections, upgrading from copper-based technologies in record numbers. This shift is driving increased demand for higher-speed tiers and lifting data usage across the country. Average monthly data downloads per premises rose more than 10 per cent – from 460 GB in June 2024 to 508 GB in June 2025.
The number of homes and businesses connected via Fibre to the Premises (FTTP) grew by 23 per cent – from 2.165 million to 2.665 million – making FTTP the dominant fixed-line technology on the nbn® network. FTTP services also recorded the largest usage growth among fixed-line technologies, with average monthly downloads rising 13 per cent to 606 GB, a trend expected to continue as more customers upgrade to full fibre and adopt higher speed tiers.
Some of NBN Co’s reported highlights include:
Financial highlights
- Total revenue grew four per cent to $5.7 billion and EBITDA increased eight per cent to $4.2 billion, meeting guidance targets set out in the Statement of Corporate Intent 2025
- Residential ARPU rose by $3 to $50 per month, driven by increased adoption of higher-speed products and regulated wholesale price changes under the SAU Variation
- Business and enterprise revenue grew to $1.2 billion, up six per cent year-on-year
- Operating expenses fell five per cent to $1.6 billion, reflecting disciplined cost efficiency initiatives
- Capital expenditure reduced by seven per cent to $3.5 billion, reflecting completion of the majority of network infrastructure and capacity investments
Customer highlights
- Connected premises — More than 8.63 million premises are now connected to the nbn® network, with 31 per cent or 2.66 million on FTTP, up from 25 per cent or 2.17 million in FY24
- Record fibre lead-ins and FTTP growth — More than 430,000 premises upgraded from legacy copper to FTTP in FY25 – more than double FY24 – taking the total to over 805,000
- Higher-speed adoption — 2.77 million premises (32 per cent) are connected on wholesale plans offering 100 Mbps or above, up from 2.08 million (24 per cent) in FY24
- Data usage growth — Average monthly usage of 508 GB per premises, with FTTP services averaging 606 GB, up 13 per cent year-on-year
Network upgrades
- Fibre Connect program — On track to complete the initial five-year program on time and on budget by December 2025, making more than 10 million premises – 90 per cent of the fixed-line network – eligible for near gigabit and multi-gigabit wholesale speeds.
- Local Fibre Network expansion — Upgrades completed to serve 4.6 million premises, a 21 per cent increase on the 3.9 million served a year earlier
- Pathway off copper — Confirmed a pathway off legacy copper technology for the remaining 622,000 premises served by Fibre to the Node (FTTN)
- Regional upgrades and demand — Fixed Wireless network upgrades expanded coverage from 220,000 to 345,000 square kilometres and delivered faster wholesale speeds to regional Australia. Expansion of Sky Muster Plus Premium uncapped plans has seen overall satellite network usage increase and average usage for Satellite customers increase 24 per cent to 153GB/month. With a quarter of the satellite customers on the highest Sky Muster Plus Premium typically using on average a third of a terabyte every month.
Operational highlights
- Welcomed new Chief Executive Officer, Ellie Sweeney, and Chief Financial Officer, Simon Atkinson
- Recorded zero serious Health, Safety, and Environment (HSE) incidents in FY25, supported by a technology-enabled injury reduction plan and consistently high compliance with critical risk controls
- Continued to operate a climate resilient and resource efficient network, that supports Australia’s current and future social wellbeing and economic prosperity, and aims to achieve Net Zero emissions by FY45
- Achieved an employee engagement score in the top quartile globally
Chief Executive Officer at NBN Co, Ellie Sweeney, said that these results demonstrate that NBN’s strategy of upgrading its network to full fibre and other leading technologies is delivering for customers, businesses and the nation.
“We are on track to complete the initial five-year Fibre Connect program on time by December 2025, and on budget,” Sweeney said.
“Almost 9.8 million premises can now order our highest speed residential products, and by the end of December this year, that will grow to more than 10 million premises, or 90 per cent of our fixed line network.
“With seven out of ten Australian homes and businesses connected to the nbn network, our focus is on lifting customer experience, delivering a resilient network that supports digitisation and AI workloads, while ensuring the benefits of connectivity are delivered across our communities, homes and businesses, now and into the future.
“We take great pride in delivering a reliable, high-speed and high-capacity network to Australians and it is our investment in the network that is enabling us to ‘Accelerate Great’, as we say, which will lift our 100 Mbps wholesale speed tier to offer wholesale download speeds of 500 Mbps in September. These investments are also enabling the launch of our first multi-gigabit wholesale residential products, via participating retailers, to eligible customers connected to the nbn® network via FTTP and HFC.
Sweeney said that NBN Co is a critical infrastructure provider, and the nbn® network is a platform for national progress that enables Australians to work remotely, start and grow businesses, access healthcare, connect with education, and remain close to the people who matter most in our lives.
“Looking to the future, it is nbn’s aim that our 500 Mbps wholesale speed tier becomes Australia’s most popular nbn plan. And thanks to our investments in the latest technologies and network upgrades, we expect to lift average fixed broadband speeds across the nation,” Sweeney said.
“The nbn® network is delivering and Australians are responding. It is our responsibility and privilege to deliver the digital infrastructure today that will be critical to the way Australians work, learn, connect and grow in the future.
“Our goal is to turn investment into impact, innovation into inclusion, and infrastructure into opportunity for the economy, communities, and families in every home and business across Australia.”
