RE: Net Debt & Cash Flow (new 2 of 2)25 Jun 2024 18:35
Rodders, the only one being an oil tanker ( yes tanker with a T is you lol)… BT has already done a 120 turn and by the end of year a full 180…
I’m hearing from the lads and lassies whom frequent my establishment near Martlesham for a swift libation on the way home that heavy copper cable recovery has been underway in Cornwall and Devon for some time and close to completion, alongside the first 100 exchanges ( major switching centres first) starting in 6 months time.
2025 will be a positive news filled annus from an SP perspective possibly month on month as historic achievements are rolled out celebrating milestone after milestone on the FTTP front as BT on its own will have more customers connected to their network than all the others combined. In fact that milestone will probably be achieved Q3 this year.
As the exchange’s close one by one or ten by ten each exchange liability will be another notch off the debt pile and the cash raised from the sale added to the profit column and to the free cash flow amount…(every exchange closed is sold off by Telereal estate and the overall profits of each transaction is split 50/50). Now that’s real Free Cash Flow…
That free cash will be pouring into the coffers well into the 2030’s as will the rest of the copper recovery.
Yes it’s jam tomorrow, but that magic 2026 figure for the FTTP roll out doesn’t seem so far away and they have already hit peak CAPEX on 5G and FTTP.
Then consider the EV charging project.. turning around 65,000 powered cabinets into charging stations pushed by a Labour government who will lower local planning laws to get them done.
I’m sure by 2030 BT will be rebranded, in fact it’s already been rebranded in part to EE for the retail arm.
I’m sure it will be something wacky with Tech jargon, I just hope they find use the same idiot that come up with Openreach it’s such a mouthful when you’re angry and trying to argue with an off shore peasant about your broadband.