Full Year 2025 BT Group PLC Earnings Call Transcript
Key Points
- BT Group PLC (BTGOF) achieved a record year in full fiber build and connections, reaching over 18 million premises.
- The company reported a better-than-expected GBP1.6 billion of normalized free cash flow, reflecting strong financial management.
- BT Group PLC (BTGOF) increased its dividend to 8.16p per share, demonstrating confidence in cash flow expansion.
- Openreach delivered growth in revenue and EBITDA, driven by CPI-linked price increases and increased FTTP mix.
- The company is accelerating its fiber build, aiming to pass up to 5 million homes in the coming year, enhancing its competitive position.
- BT Group PLC (BTGOF) faced revenue declines in consumer and business segments, with overall adjusted revenue down 2%.
- The fixed broadband market shrank slightly, creating a headwind for line losses, particularly in areas without full fiber.
- The company experienced ongoing drags from legacy products, impacting business revenue, which fell by 4%.
- Openreach's Q4 revenue growth was negatively impacted by the phasing of commercial and storm-related rebates.
- The company anticipates higher CapEx of around GBP5 billion in fiscal year '26 due to accelerated fiber build and provisioning.
Good morning, and welcome, everyone, to BT Group's results presentation for the full year ended March 31, 2025. Presenting today are Allison Kirkby, Chief Executive; and Simon Lowth, CFO. Following the presentation, there will be a question-and-answer session. I would like to make everyone aware that this event is being recorded for replay purposes.
Before we start, I'd like to draw your attention to the forward-looking statements cautioned in the presentation and press release. For examples of the factors that could cause actual results to differ from any forward-looking statements we may make. Both the press release and the presentation can be found on our website.
With that, I'll now hand over to Allison.
Thank you, Nick, our new chat bot. Good morning, everyone, and welcome to our full year results presentations, and thank you so much for joining us today on this sunny morning. By way of an agenda, I'll be starting by looking back at our progress in the past year,
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