Ann: Termination of White Label Agreement, page-44

If you had spent more than 5 seconds looking at the financials, you'd know I am referring to the free cash flow combined with the impressive organic revenue growth. You'd also know that the loss aspect is just accumulated depreciation. The depreciation of which is for equipment that has a very long usable life. Fibre networks can have their capacity increased simply by improving the equipment on either end (how they are lit), or using different wavelengths. It's exactly why ABB listed in the first place, to get capital to put into the building phase which is the most expensive (actually laying physical cable and earthworks, approvals and everything that goes along with it...) It means that expansion can be achieved easily from existing customers and cashflow.

Edit: I also don't understand why holders are taking my comments as criticisms of ABB. It is simply a matter of stating the facts, so people understand the context of what I am saying and where I am coming from. I have been in the telecommunications industry for over a decade so it may be helpful for investors who are interested to listen. My intention isn't meant to be trying to prove SLC or ABB is a better business than each other - as I hold both and I am almost certain the trend within the retail and SME space on NBN services will continue where SLC and ABB both grow and take market share off Optus and Telstra primarily who don't have compelling offerings in the market.