Broadband wholesaler NBN Co has posted a rise in annual earnings as more Australians upgraded from aging copper technology to fibre in record numbers to connect to the internet.
The Australian government-owned entity’s earnings for 2024/25 jumped eight per cent to $4.2 billion, in line with guidance, as revenue rose four per cent to $5.7 billion.
More than 430,000 premises were upgraded from legacy copper connections to fibre, which was more than double from 2023/24, taking the total to over 805,000.
The shift to faster speeds and full fibre connections also drove demand for higher-speed internet tiers and lifted data usage across the country.
Average monthly data downloads per premise rose more than 10 per cent – from 460GB in June 2024 to 508GB in June 2025, NBN said on Tuesday.
As well, the number of homes and businesses connected via fibre to the premises grew by 23 per cent to 2.7 million – making it the dominant fixed-line technology on its network.
Almost nine million premises are now connected to the NBN network, including 31 per cent on fibre to the premises.
“Looking to the future, it is NBN’s aim that our 500 Mbps wholesale speed tier becomes Australia’s most popular NBNn plan,” CEO Ellie Sweeney said.
NBN was set up in 2009 as a government business enterprise to design, build and operate a wholesale broadband access network for the nation.
Australian Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national newswire and has been delivering accurate, reliable and fast news content to the media industry, government and corporate sector for 85 years. We keep Australia informed.
