NetLink NBN reports 6.2% revenue growth in Q1

EBITDA growth was moderate due to higher operating costs.

NetLink NBN’s first-quarter revenue rose 6.2% year-on-year (YoY) to $103.9m, versus the $97.9m it accumulated in the prior year.

During the quarter, its revenue rose by $6.0m. Of this, $4.1m originated from non-RAB revenue, primarily attributed to additional ancillary projects.

An additional $1.9m came from RAB revenue due to higher residential, non-residential, NBAP, and segment connections orders.

ALSO READ: NetLink NBN profit climbs 19.7% YoY to $109.3m in FY23

Likewise, its EBITDA also increased 3.1% to $75.2m. However, this was moderate growth due to higher operating costs. Further, net earnings climbed 2.1% to $28.2m.

As of 30 June, there were 1.48 million residential connections and 52,522 non-residential connections, compared to 1.46 million and 50,828 in the same period of the previous year, respectively.

The number of NBAP connections increased from 2,479 to 2,757, and segment connections grew from 2,170 to 3,003 between 30 June 2022, and 30 June 2023.

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