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Ventia (ASX:VNT) has become the beneficiary of a $2 billion contract with NBN Co which will run for the next five years. In the deal, Ventia will be tasked with delivering “maintenance and customer activation services” across the NBN network under a contract the company classifies as a ‘Field Module contract.’
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Those services will be rolled out on the east coast: Queensland, New South Wales, the ACT, and Tasmania (though, no Victoria or Adelaide mentioned).
“The scope encompasses network assurance, service assurance, customer connections, service activation and other associated programs across all nbn Fixed Line technologies, including aerial infrastructure,” the company added.
The contract is an extension of what is an already well-established relationship between Ventia and NBN Co; though it doesn’t kick off until September this year.
Ventia CEO Dean Banks nodded at the ongoing relationship with NBN Co and shareholders nodded at the move too.
Ventia shares jumped around +1.7% in the first hour of Friday trades on around half a million dollars worth of shares trading hands.
Ventia’s market cap has recovered to $3.6B since Ventia was slapped with an ACCC lawsuit in early December 2024, which ultimately blamed the company for deliberately operating like a cartel while charging for services at Defence bases.
Another company, Spotless, was wrapped up in that case; both together enjoyed separate billion-dollar contracts regarding over 200 ADF sites.
Shares aren’t far off where they were in December, right before the price tanked.
VNT last traded at $4.24/sh.
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