16th Jun 2014 10:35
16 June 2014
BT PROVIDES REVISED FINANCIAL INFORMATION AND KPIs REFLECTING ORGANISATIONAL CHANGES
BT Group has today published revised line of business financial information and key performance indicators (KPIs) to reflect organisational changes which came into effect on 1 April 2014.
BT Conferencing has moved from BT Business into BT Global Services. This will help us simplify the way we provide integrated collaboration solutions to our global customers. BT Security has moved from our central group functions into BT Global Services. Security is of increasing importance to our customers, and we believe that this move will help us better compete in the market and take full advantage of global opportunities.
The organisational changes do not impact the results of BT Consumer, BT Wholesale or Openreach. There is no impact on the total group results.
The financial impact and restated financial information, prepared on a consistent basis, for the years ended 31 March 2014, 31 March 2013 and 31 March 2012 is shown below. The updated KPI document is available at www.bt.com/results
Results for the first quarter to 30 June 2014 (which are expected to be announced on Thursday 31 July 2014) will be presented on this revised basis.
Enquiries
Press office:
Ross Cook Tel: 020 7356 5369
Investor relations:
Damien Maltarp Tel: 020 7356 4909
Notes to editors
About BT
BT is one of the world's leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband, TV and internet products and services; and converged fixed/mobile products and services. BT consists principally of five lines of business: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach.
For the year ended 31 March 2014, BT Group's reported revenue was £18,287m with reported profit before taxation of £2,312m.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
For more information, visit www.btplc.com.
Appendix - impact of restatements on 2013/141
£m | As previously reported - 2013/14 | Adjustments | Restated - 2013/14 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | |||
BT Global Services | |||||||||||||||||
Revenue | 1,696 | 1,694 | 1,794 | 1,857 | 7,041 | 56 | 49 | 53 | 70 | 228 | 1,752 | 1,743 | 1,847 | 1,927 | 7,269 | ||
EBITDA | 182 | 201 | 263 | 286 | 932 | 28 | 21 | 27 | 33 | 109 | 210 | 222 | 290 | 319 | 1,041 | ||
Free cash flow | (280) | 74 | 78 | 517 | 389 | 18 | 17 | 33 | 42 | 110 | (262) | 91 | 111 | 559 | 499 | ||
BT Business | |||||||||||||||||
Revenue | 863 | 871 | 880 | 895 | 3,509 | (78) | (72) | (72) | (74) | (296) | 785 | 799 | 808 | 821 | 3,213 | ||
EBITDA | 262 | 268 | 281 | 287 | 1,098 | (26) | (21) | (24) | (25) | (96) | 236 | 247 | 257 | 262 | 1,002 | ||
Free cash flow | 125 | 240 | 247 | 280 | 892 | (16) | (23) | (29) | (25) | (93) | 109 | 217 | 218 | 255 | 799 | ||
BT Consumer | |||||||||||||||||
Revenue | 950 | 987 | 1,014 | 1,068 | 4,019 | - | - | - | - | - | 950 | 987 | 1,014 | 1,068 | 4,019 | ||
EBITDA | 231 | 158 | 175 | 269 | 833 | - | - | - | - | - | 231 | 158 | 175 | 269 | 833 | ||
Free cash flow | 146 | 11 | 99 | 216 | 472 | - | - | - | - | - | 146 | 11 | 99 | 216 | 472 | ||
BT Wholesale | |||||||||||||||||
Revenue | 638 | 624 | 589 | 571 | 2,422 | - | - | - | - | - | 638 | 624 | 589 | 571 | 2,422 | ||
EBITDA | 157 | 159 | 146 | 152 | 614 | - | - | - | - | - | 157 | 159 | 146 | 152 | 614 | ||
Free cash flow | (31) | 154 | 30 | 219 | 372 | - | - | - | - | - | (31) | 154 | 30 | 219 | 372 | ||
Openreach | |||||||||||||||||
Revenue | 1,245 | 1,271 | 1,274 | 1,271 | 5,061 | - | - | - | - | - | 1,245 | 1,271 | 1,274 | 1,271 | 5,061 | ||
EBITDA | 605 | 642 | 660 | 694 | 2,601 | - | - | - | - | - | 605 | 642 | 660 | 694 | 2,601 | ||
Free cash flow | 269 | 311 | 452 | 460 | 1,492 | - | - | - | - | - | 269 | 311 | 452 | 460 | 1,492 | ||
Other | |||||||||||||||||
Revenue | 28 | 14 | 26 | 63 | 131 | (10) | 4 | (12) | (31) | (49) | 18 | 18 | 14 | 32 | 82 | ||
EBITDA | 3 | 6 | 12 | 17 | 38 | (2) | 0 | (3) | (8) | (13) | 1 | 6 | 9 | 9 | 25 | ||
Free cash flow | (289) | (180) | (352) | (346) | (1,167) | (2) | 6 | (4) | (17) | (17) | (291) | (174) | (356) | (363) | (1,184) | ||
Intra-group items | |||||||||||||||||
Revenue | (971) | (970) | (978) | (977) | (3,896) | 32 | 19 | 31 | 35 | 117 | (939) | (951) | (947) | (942) | (3,779) | ||
TOTAL | |||||||||||||||||
Revenue | 4,449 | 4,491 | 4,599 | 4,748 | 18,287 | - | - | - | - | - | 4,449 | 4,491 | 4,599 | 4,748 | 18,287 | ||
EBITDA | 1,440 | 1,434 | 1,537 | 1,705 | 6,116 | - | - | - | - | - | 1,440 | 1,434 | 1,537 | 1,705 | 6,116 | ||
Free cash flow | (60) | 610 | 554 | 1,346 | 2,450 | - | - | - | - | - | (60) | 610 | 554 | 1,346 | 2,450 | ||
1 Before specific items. Free cash flow is before purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments
Appendix - impact of restatements on 2012/131
£m | As previously reported - 2012/13 | Adjustments | Restated - 2012/13 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | |||
BT Global Services | |||||||||||||||||
Revenue | 1,731 | 1,757 | 1,748 | 1,934 | 7,170 | 60 | 52 | 51 | 59 | 222 | 1,791 | 1,809 | 1,799 | 1,993 | 7,392 | ||
EBITDA | 171 | 182 | 215 | 264 | 832 | 26 | 27 | 31 | 34 | 118 | 197 | 209 | 246 | 298 | 950 | ||
Free cash flow | (263) | (119) | 140 | 454 | 212 | 21 | 20 | 28 | 33 | 102 | (242) | (99) | 168 | 487 | 314 | ||
BT Business | |||||||||||||||||
Revenue | 849 | 870 | 875 | 922 | 3,516 | (74) | (73) | (73) | (76) | (296) | 775 | 797 | 802 | 846 | 3,220 | ||
EBITDA | 244 | 252 | 267 | 284 | 1,047 | (24) | (25) | (28) | (30) | (107) | 220 | 227 | 239 | 254 | 940 | ||
Free cash flow | 140 | 183 | 280 | 304 | 907 | (19) | (18) | (25) | (29) | (91) | 121 | 165 | 255 | 275 | 816 | ||
BT Consumer | |||||||||||||||||
Revenue | 959 | 952 | 953 | 982 | 3,846 | - | - | - | - | - | 959 | 952 | 953 | 982 | 3,846 | ||
EBITDA | 246 | 238 | 228 | 256 | 968 | - | - | - | - | - | 246 | 238 | 228 | 256 | 968 | ||
Free cash flow | 100 | 147 | 190 | 218 | 655 | - | - | - | - | - | 100 | 147 | 190 | 218 | 655 | ||
BT Wholesale | |||||||||||||||||
Revenue | 678 | 616 | 645 | 669 | 2,608 | - | - | - | - | - | 678 | 616 | 645 | 669 | 2,608 | ||
EBITDA | 163 | 143 | 153 | 161 | 620 | - | - | - | - | - | 163 | 143 | 153 | 161 | 620 | ||
Free cash flow | (8) | 63 | 115 | 178 | 348 | - | - | - | - | - | (8) | 63 | 115 | 178 | 348 | ||
Openreach | |||||||||||||||||
Revenue | 1,270 | 1,283 | 1,286 | 1,276 | 5,115 | - | - | - | - | - | 1,270 | 1,283 | 1,286 | 1,276 | 5,115 | ||
EBITDA | 633 | 664 | 662 | 683 | 2,642 | - | - | - | - | - | 633 | 664 | 662 | 683 | 2,642 | ||
Free cash flow | 289 | 328 | 448 | 410 | 1,475 | - | - | - | - | - | 289 | 328 | 448 | 410 | 1,475 | ||
Other | |||||||||||||||||
Revenue | 19 | 19 | 21 | 42 | 101 | (13) | (10) | (7) | (17) | (47) | 6 | 9 | 14 | 25 | 54 | ||
EBITDA | (5) | 9 | 14 | 16 | 34 | (2) | (2) | (3) | (4) | (11) | (7) | 7 | 11 | 12 | 23 | ||
Free cash flow | (382) | (286) | (366) | (263) | (1,297) | (2) | (2) | (3) | (4) | (11) | (384) | (288) | (369) | (267) | (1,308) | ||
Intra-group items | |||||||||||||||||
Revenue | (1,002) | (1,004) | (1,001) | (1,010) | (4,017) | 27 | 31 | 29 | 34 | 121 | (975) | (973) | (972) | (976) | (3,896) | ||
TOTAL | |||||||||||||||||
Revenue | 4,504 | 4,493 | 4,527 | 4,815 | 18,339 | - | - | - | - | - | 4,504 | 4,493 | 4,527 | 4,815 | 18,339 | ||
EBITDA | 1,452 | 1,488 | 1,539 | 1,664 | 6,143 | - | - | - | - | - | 1,452 | 1,488 | 1,539 | 1,664 | 6,143 | ||
Free cash flow | (124) | 316 | 807 | 1,301 | 2,300 | - | - | - | - | - | (124) | 316 | 807 | 1,301 | 2,300 | ||
1 Before specific items. Free cash flow is before purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments
Appendix - impact of restatements on 2011/121
£m | As previously reported - 2011/12 | Adjustments | Restated - 2011/12 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | |||
BT Global Services | |||||||||||||||||
Revenue | 1,906 | 2,015 | 1,895 | 1,996 | 7,812 | 49 | 61 | 60 | 60 | 230 | 1,955 | 2,076 | 1,955 | 2,056 | 8,042 | ||
EBITDA | 189 | 210 | 196 | 240 | 835 | 22 | 26 | 33 | 32 | 113 | 211 | 236 | 229 | 272 | 948 | ||
Free cash flow | (9) | (4) | 186 | 218 | 391 | 8 | 25 | 34 | 35 | 102 | (1) | 21 | 220 | 253 | 493 | ||
BT Business | |||||||||||||||||
Revenue | 884 | 903 | 895 | 912 | 3,594 | (70) | (75) | (76) | (79) | (300) | 814 | 828 | 819 | 833 | 3,294 | ||
EBITDA | 250 | 253 | 264 | 270 | 1,037 | (21) | (24) | (26) | (27) | (98) | 229 | 229 | 238 | 243 | 939 | ||
Free cash flow | 177 | 218 | 209 | 252 | 856 | (3) | (22) | (29) | (27) | (81) | 174 | 196 | 180 | 225 | 775 | ||
BT Consumer | |||||||||||||||||
Revenue | 979 | 981 | 985 | 980 | 3,925 | - | - | - | - | - | 979 | 981 | 985 | 980 | 3,925 | ||
EBITDA | 216 | 214 | 214 | 238 | 882 | - | - | - | - | - | 216 | 214 | 214 | 238 | 882 | ||
Free cash flow | 140 | 140 | 100 | 212 | 592 | - | - | - | - | - | 140 | 140 | 100 | 212 | 592 | ||
BT Wholesale | |||||||||||||||||
Revenue | 759 | 737 | 734 | 713 | 2,943 | - | - | - | - | - | 759 | 737 | 734 | 713 | 2,943 | ||
EBITDA | 172 | 171 | 168 | 156 | 667 | - | - | - | - | - | 172 | 171 | 168 | 156 | 667 | ||
Free cash flow | (16) | 88 | 10 | 177 | 259 | - | - | - | - | - | (16) | 88 | 10 | 177 | 259 | ||
Openreach | |||||||||||||||||
Revenue | 1,269 | 1,294 | 1,313 | 1,311 | 5,187 | - | - | - | - | - | 1,269 | 1,294 | 1,313 | 1,311 | 5,187 | ||
EBITDA | 617 | 648 | 672 | 681 | 2,618 | - | - | - | - | - | 617 | 648 | 672 | 681 | 2,618 | ||
Free cash flow | 256 | 431 | 385 | 442 | 1,514 | - | - | - | - | - | 256 | 431 | 385 | 442 | 1,514 | ||
Other | |||||||||||||||||
Revenue | 13 | 13 | 18 | 22 | 66 | (9) | (10) | (14) | (15) | (48) | 4 | 3 | 4 | 7 | 18 | ||
EBITDA | (16) | (8) | 2 | 17 | (5) | (1) | (2) | (7) | (5) | (15) | (17) | (10) | (5) | 12 | (20) | ||
Free cash flow | (347) | (310) | (256) | (392) | (1,305) | (5) | (3) | (5) | (8) | (21) | (352) | (313) | (261) | (400) | (1,326) | ||
Intra-group items | |||||||||||||||||
Revenue | (1,022) | (1,026) | (1,044) | (1,038) | (4,130) | 30 | 24 | 30 | 34 | 118 | (992) | (1,002) | (1,014) | (1,004) | (4,012) | ||
TOTAL | |||||||||||||||||
Revenue | 4,788 | 4,917 | 4,796 | 4,896 | 19,397 | - | - | - | - | - | 4,788 | 4,917 | 4,796 | 4,896 | 19,397 | ||
EBITDA | 1,428 | 1,488 | 1,516 | 1,602 | 6,034 | - | - | - | - | - | 1,428 | 1,488 | 1,516 | 1,602 | 6,034 | ||
Free cash flow | 201 | 563 | 634 | 909 | 2,307 | - | - | - | - | - | 201 | 563 | 634 | 909 | 2,307 | ||
1 Before specific items. Free cash flow is before purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments
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