London · Delayed Price · Currency is GBP · Price in GBX BT Group Earnings Call Transcripts
Fiscal Year 2026
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Solid half-year results with flat adjusted EBITDA and strong progress in fiber and 5G, despite revenue declines from legacy voice and equipment sales. Guidance for FY26 and long-term targets are reaffirmed, with cost transformation offsetting market and regulatory headwinds.
Fiscal Year 2025
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Record fiber build and connections drove EBITDA and cash flow growth despite revenue headwinds. Dividend increased, CapEx remains high for accelerated build, but major reduction expected post-2026. Transformation and cost savings on track, with strong Openreach and improving consumer performance.
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H1 2024 saw EBITDA and free cash flow growth despite a 3% revenue decline, driven by record fiber build, cost savings, and operational efficiencies. FY25 revenue guidance was lowered, but EBITDA and cash flow targets were reaffirmed, with continued focus on U.K. fiber expansion and cost transformation.