Financial history for BT Consumer and BT Business

RNS Number : 8687A

BT Group PLC

25 February 2014

 



DC14-078                                                                                                                        25 February 2014

BT PROVIDES FINANCIAL INFORMATION AND KEY PERFORMANCE INDICATORS FOR NEW BUSINESSES REPLACING BT RETAIL

BT Group has today published revised line of business financial information and key performance indicators (KPIs) to reflect the separation of BT Retail into two new lines of business - BT Business and BT Consumer.

In July 2013, we announced the new structure, which will allow the company to better serve its customers and focus even more on delivering its strategic priorities. These include 'Being the brand for business for UK SMEs' and 'Driving broadband-based consumer services'. As we have made good progress with the separation we are publishing this information earlier than we had originally expected. Comparative information has been presented on a consistent basis.

Previously, BT Retail comprised four customer facing units. These were Business, Consumer, BT Enterprises (comprising BT Conferencing, BT Payphones, BT Directories, BT Fleet, BT Wi-fi, BT Redcare, BT Expedite & Fresca, and BT Tikit) and BT Ireland.

BT Enterprises and the business and wholesale elements of BT Ireland have merged with Business to form the new BT Business line of business. BT Wi-fi and the consumer part of BT Ireland have transferred to BT Consumer.

The separation does not impact the results or KPIs for BT Global Services, BT Wholesale or Openreach, but some small shared operations have transferred into the central group functions resulting in some minor changes to the 'Other' segment. There is no impact on the total group results.

Financial information for the new lines of business for the three quarters ended 31 December 2013, the year ended 31 March 2013, and the year ended 31 March 2012 is outlined below. This information is also included in the updated KPI document which is available at www.btplc.com/results.

Results for the fourth quarter and full year to 31 March 2014 (which are expected to be announced on Thursday 8 May 2014) will be presented on this revised basis.

Enquiries

Press office:

Ross Cook                                                      Tel: [phone]

Investor relations:

Damien Maltarp                                               Tel: [phone]

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 2013, BT Group's reported revenue was £18,103m with reported profit before taxation of £2,315m.

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 - revised line of business financial information¹

£m	As previously reported		Revised		Change in
	BT Retail		BT Business	BT Consumer	Other segment
Financial year to 31 March 2014
First quarter
Revenue	1,797		863	950	(16)
EBITDA	496		262	231	3
Operating profit	385		207	176	2
Free cash flow	260		125	146	(11)
Second quarter
Revenue	1,843		871	987	(15)
EBITDA	429		268	158	3
Operating profit	323		216	105	2
Free cash flow	254		240	11	3
Third quarter
Revenue	1,875		880	1,014	(19)
EBITDA	460		281	175	4
Operating profit	350		228	120	2
Free cash flow	352		247	99	6

Financial year to 31 March 2013
First quarter
Revenue	1,794		849	959	(14)
EBITDA	493		244	246	3
Operating profit	370		183	184	3
Free cash flow	248		140	100	8
Second quarter
Revenue	1,808		870	952	(14)
EBITDA	495		252	238	5
Operating profit	369		191	175	3
Free cash flow	334		183	147	4
Third quarter
Revenue	1,810		875	953	(18)
EBITDA	500		267	228	5
Operating profit	372		203	166	3
Free cash flow	471		280	190	1
Fourth quarter
Revenue	1,887		922	982	(17)
EBITDA	537		284	256	(3)
Operating profit	417		225	195	(3)
Free cash flow	523		304	218	1
Full year
Revenue	7,299		3,516	3,846	(63)
EBITDA	2,025		1,047	968	10
Operating profit	1,528		802	720	6
Free cash flow	1,576		907	655	14

¹ All line of business financial information is 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 - revised line of business financial information¹

£m	As previously reported		Revised		Change in
	BT Retail		BT Business	BT Consumer	Other segment
Financial year to 31 March 2012
First quarter
Revenue	1,852		884	979	(11)
EBITDA	471		250	216	5
Operating profit	347		186	157	4
Free cash flow	310		177	140	(7)
Second quarter
Revenue	1,872		903	981	(12)
EBITDA	472		253	214	5
Operating profit	348		198	147	3
Free cash flow	370		218	140	12
Third quarter
Revenue	1,868		895	985	(12)
EBITDA	483		264	214	5
Operating profit	359		203	152	4
Free cash flow	305		209	100	(4)
Fourth quarter
Revenue	1,880		912	980	(12)
EBITDA	511		270	238	3
Operating profit	379		202	174	3
Free cash flow	468		252	212	4
Full year
Revenue	7,472		3,594	3,925	(47)
EBITDA	1,937		1,037	882	18
Operating profit	1,433		789	630	14
Free cash flow	1,453		856	592	5

¹ All line of business financial information is 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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