Following statements are attributable to NBN Co CEO, Ellie Sweeney.

NBN Co delivered guidance targets for the year ending 30 June 2026, as Australians continue to upgrade from legacy copper connections to fibre in record numbers.

Guided by our purpose of ‘elevating Australia by connecting people and powering progress’, we remain focused on unlocking the value of the network through fibre upgrades, higher-speed adoption, improved customer experience and investment in resilient infrastructure.

We are delivering on our strategy to create a fibre-led future for Australia. In FY26, we upgraded more than 575,000 homes and businesses from copper to fibre, a 34% uplift, and reached 3.3 million premises on our fibre network, a 24% uplift. This marked an inflection point, with more customers connected to fibre than copper for the first time in nbn’s history.

Fibre is the superior broadband technology and the foundation for Australia’s digital future. It’s more reliable, more resilient and scalable, while delivering lower latency, stronger performance and the ability to serve the nation for decades to come.

The nbn^® network is delivering tangible benefits for Australians. As more customers move from legacy copper to fibre, they are experiencing greater reliability, faster speeds and improved performance.

The success of ‘Accelerate Great’ has contributed to more than 4 million homes and businesses accessing download speeds of 100 Mbps or above¹, up from 2.8 million in FY25. Significantly, 37% were on plans of 500 Mbps or above, up from 4% a year earlier.

From the regions to the cities, Australians are consuming more data than ever before. Average monthly downloads increased to 574 GB per premises, up 13% year-on-year, reflecting growing use of cloud services, video streaming, flexible working, online learning, AI and other increasingly data-intensive applications.

The FY26 results reflect continued demand for higher-speed broadband services, disciplined execution across the business and the long-term benefits of nbn's ongoing investment in network capability, reliability and customer outcomes.

The scale of the transition to fibre is supporting better customer experience, cost efficiency and improved network reliability. In the 12 months to 30 June 2026, nbn delivered reductions in service and network truck rolls, manual interactions and record low incident rates.

The company continues to focus on enabling a safe, inclusive and engaged workforce. In FY26, we saw improved metrics in Health, Safety and Environment (HSE) and achieved employee engagement within the top 10% of global benchmarked companies.

The FY26 momentum reflects nbn's long-term strategy to unlock more value from this nation-building investment across fibre, HFC, fixed wireless and satellite, that will support Australia’s growing digital and AI needs for decades to come.

Financial highlights

• Total revenue grew 3% to $5.92 billion and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)² increased 5% to $4.46 billion, meeting or exceeding guidance targets set out in NBN Co’s Statement of Corporate Intent 2026.
• Telecommunications revenue grew 4% to $5.75 billion, supported by increased adoption of higher-speed products and Consumer Price Index-linked wholesale price increases under the Special Access Undertaking Variation.
• Residential Average Revenue Per User increased by $2 to $52 per month.
• Business and enterprise revenue grew to $1.23 billion, up 2% year-on-year.
• Operating expenses reduced 3% to $1.57 billion, reflecting improved network reliability, benefits of fibre take-up and disciplined cost efficiency initiatives.
• Capital expenditure of $3 billion was invested to deliver network maintenance and upgrades. This included $1.6 billion for the continued delivery of fibre upgrade programs, as well as ongoing investment to connect new developments and increase network capacity to keep pace with growing data demand.
• Free cash flow before financing activities increased 51% to $1.16 billion, supported by growth in operating cash flows and lower capital expenditure.
  

Customer highlights

• Record fibre lead-ins and FTTP growth: More than 575,000 homes and businesses upgraded from legacy copper to FTTP in FY26, taking the total number of upgraded premises to more than 1.38 million.
• Higher-speed adoption: Accelerate Great continued to drive growth in the adoption of higher-speed services. As of 30 June 2026, 47% of services were on 100 Mbps or above, up from 32% in FY25, and 37% were on 500 Mbps or above, up from 4% in FY25.
• Data usage growth: Average monthly data usage increased to 574 GB per premises, up 13% year-on-year, with FTTP services averaging 687 GB.
• Supporting business: Since the launch of Accelerate Great, Australian businesses are increasingly powered by nbn high-speed business plans, rising from 33,000 connections in FY25 to 144,000 in FY26, a 300% increase year-on-year.
  

Network upgrade highlights

• Fibre Connect program: During FY26, NBN Co successfully met its target of making 3.5 million customers on FTTN eligible to order a full fibre upgrade, achieving the milestone on time and on budget. More than 1.38 million homes and businesses have upgraded to FTTP through the Fibre Connect program.
• Copper upgrades: NBN Co remains on track to provide an upgrade pathway for the remaining FTTN footprint by 2030. Around 90,000 premises out of the final approximately 622,000 are eligible to order a full fibre upgrade, with additional premises being made ready each month.
• Fixed Wireless performance: Recent Fixed Wireless upgrades³ have contributed to a 13% year-on-year increase in average monthly downloads and a 19.5% increase in average monthly uploads. Customers are also moving to higher speed tiers, with twice as many customers, 31,000, now on plans of 200 Mbps+.
• Next generation satellite: Approximately 300,000 premises within the existing satellite footprint stand to benefit from the Low Earth Orbit satellite broadband service offering powered by Amazon Leo, currently in development.
• HFC investment: NBN Co continues to invest in its HFC network, with approximately 2.5 million eligible premises now capable of achieving wholesale download speeds of 2 Gbps⁴.
  

Safe and engaged workforce

Creating and maintaining a safe, healthy and respectful workplace remains a central part of NBN Co’s strategy. In FY26, no serious Health, Safety and Environment (HSE) incidents, including fatalities and permanent disabling injuries, were recorded.

A major initiative during the financial year involved a new risk avoidance program underpinned by design improvements, innovation and strong collaboration with the company’s delivery partners to ensure that everyone goes home safe at the end of each day.

In FY26, NBN Co recorded improved employee engagement and is now positioned within the top 10% of global benchmarked companies.

Driving innovation

NBN Co continues to embrace innovative ways to improve customer outcomes including the use of artificial intelligence and advanced analytics to make the network easier to operate, more reliable and more responsive for customers and retail service providers.

In FY26, the company expanded the use of AI-enabled tools across network operations, field services, customer support, and internal business processes. These tools are helping teams reduce manual work, improve the quality of information available to technicians in the field, identify issues faster and support better decision-making across the business.

The company is also working with research and industry partners to improve fibre deployment techniques, network data quality, telemetry, and customer experience insights. These partnerships are helping ensure the nbn^® network remains resilient, secure, and ready to support Australia’s growing digital and AI-enabled future.

Environmental sustainability

NBN Co delivered on commitments to implement projects that reduce annual energy use of the nbn^® network by 25 Gigawatt-hours per annum. From 31 December 2025, the company has achieved a 100% renewable electricity purchases target⁵, supported by the third Power Purchase Agreement at Munna Creek Solar Farm going live.

Together, these initiatives helped reduce NBN Co’s Scope 1 and 2 emissions by 55% compared with the FY21 baseline, while overall energy consumption also declined during FY26.

Funding the company's future

NBN Co continues to raise funds from domestic and global debt markets to support investment in the network and maintain a strong liquidity position. The company has raised more than A$10.7 billion in green and sustainability bonds, making NBN Co the largest Australian corporate issuer in sustainable bond format.

As at 30 June 2026, NBN Co had net debt of $27.5 billion, comprised of debt capital markets issuances and bank debt, and a committed liquidity position of $7.6 billion.

Footnotes

1. An end customer’s experience, including the speeds actually achieved over the nbn^® network, depends on some factors outside NBN Co’s control (like equipment quality, software, and how a retail service provider designs its network) and the NBN Co technology used for the connection.
2. EBITDA includes Earnings Before Interest, Tax, Other non-operating income, Depreciation and Amortisation and Gains/(Losses) on derivatives measured at fair value through profit/(loss).
3. An end customer’s experience, including the speeds actually achieved, depends on many factors, including whether the customer is using the internet during the busy periods (7pm - 11pm), the number of people in a household online at the same time, and some factors outside of nbn’s control (like in-home equipment quality and set-up, chosen broadband plan, age of device(s) and/or how each Retail Service Provider designs its network).
4. Service availability will depend on phone and internet providers offering nbn^® Hyperfast and is subject to service qualification and only available where network capacity and equipment permits.
5. nbn achieved this target through the voluntary surrender of Large Generation Certificates (LGCs) to the Clean Energy Regulator.
   

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Email: media@nbnco.com.au