NBN Co is now projecting revenue of $3.9 billion in FY20, down $1 billion from its previous forecasts.
The government-owned company today released an update of its corporate plan which covers the period 2019-2022, revealing that it expected peak funding for the new network to be $51 billion — within the range forecast in its previous plan but still $2 billion higher than expected.
NBN Co said that it would seek the additional $2 billion from private sector debt. The revised peak funding projection follows a government decision in late 2016 to loan NBN Co $19.5 billion to make up a shortfall between Canberra’s equity contribution and the cost of the rollout.
NBN Co argues that the changes in its forecasts are a result of its focus on improving customer experience.
The impact on peak funding came from three sources, NBN Co said: The company’s changes