• 7 November 2024

      Allison Kirkby, Chief Executive, commenting on the results, said

      “We have accelerated the modernisation of BT Group in the first half of the year. We’ve ramped up our full fibre build and connections, seen further improvements in customer satisfaction, and our cost transformation contributed to growth in EBITDA and normalised free cash flow despite revenue declines driven by our non-UK operations and a competitive retail environment.

      “Our nationwide full fibre rollout has set new records, now reaching more than 16 million premises, and we have further extended our industry-leading take-up rate to 35%. Our cost to build continues to reduce, enabling us to increase this year's build target to 4.2 million with no additional capex spend. We also expanded our 5G network to cover 80% of the UK population, more than any other operator. These investments in the UK’s next generation networks are enabling much better experiences, reflected in our improved net promoter scores.

      “We are confirming our EBITDA, capex and cash flow guidance for FY25, albeit on lower revenue guidance. We remain firmly on track to meet our long-term cost savings and cash flow targets, and today announce an interim dividend of 2.40pps. The accelerated modernisation of our operations, combined with a focus on connecting the UK, puts us in a strong position to generate significant value for all our stakeholders.”

      Results for the half year to
      30 September 2024



      Presentation

      BT Group's presentation for the half year results ending 30 September 2024, with Allison Kirkby, Chief Executive and Simon Lowth, Chief Financial Officer.

    • 25 July 2024

      Allison Kirkby, Chief Executive, commenting on the results, said

      “We’ve made a solid start to the year, with excellent growth in both fibre build and connections, and increased EBITDA.

      “Openreach continues to build at pace and with even more efficiency, passing the milestones of 5 million connections and - just yesterday - 15 million premises built. In Consumer, the widespread availability of FTTP and 5G combined with our new EE propositions has contributed to an improved trend in our customer base, in what remains a very competitive market. In Business, we also saw improved trends, as we continue to modernise our portfolio and our operations towards a simpler business, delivering secure, cloud-based connectivity and communication services for all our customers.

      “Our ongoing cost transformation contributed to EBITDA growth, and more than offset the expected revenue declines in Consumer and Business in the quarter. There is much more to do to simplify BT Group and deliver for our customers. We remain on track to deliver our financial outlook for this year and our cash flow inflection to c. £2.0bn in 2027 and c. £3.0bn by the end of the decade.”

      Trading update for the three months to 30 June 2024