RE: Results22 May 2025 07:11
“ The results show that, after sharpening our focus and doubling down on the UK, we have broken records on fibre build, connections and mobile network performance. And customer satisfaction jumped across BT and in all our brands. Internally, our transformation benefits are being delivered ahead of plan as we build a better BT for all of us.
This cost transformation has helped us more than offset revenue pressure and we have grown EBITDA to £8.2b and delivered a better-than-expected £1.6b of normalised free cash flow - even as we are investing more than anyone else in the UK's networks.”
Speaking about the results, Allison Kirkby said: "BT Group delivered strong progress against its strategic priorities in FY25, as we stepped up the pace of build of the UK's leading next generation networks. We set new record build and connect highs: our full fibre network now reaches more than 18m homes and businesses, with more than 6.5m already connected, and we were awarded the country's best mobile network for the 11th year in a row recognising EE's clear leadership in 5G. We also accelerated the pace of simplification and transformation, agreeing asset sales, improving customer satisfaction across all of our brands and business segments, and delivering over £900m of annualised cost savings.
"Although revenue declined year-on-year driven mainly by lower international sales and handsets, strong cost control and a step-up in focus and transformation resulted in growth in both EBITDA and normalised free cash flow, allowing us to increase our dividend for FY25 by 2% to 8.16p per share.
"The momentum in, and impact of, our full fibre programme is such that we are now raising our build target by 20% to up to 5m UK premises in FY26, keeping us comfortably on track to reach 25m by the end of 2026, while maintaining our cash flow guidance. We are now only one year away from our inflection to £2b of normalised free cash flow, our target for FY27, and remain on track to deliver £3b by the end of the decade.
"With the leadership team now in place to take our strategy forward, I am confident that as we build and connect at pace, our transformation will accelerate and deliver a better BT for all of us - our customers, our colleagues, the country and our owners."
The future plans for 2026
We go into FY26 with good momentum, the right management team in place and a refreshed strategy to build the best full fibre and mobile networks, offer customers the best connectivity and accelerate our transformation to build a better BT for all of us - our customers, our colleagues, the country and our owners.
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