Key Performance Indicators Q4 2015/16
For the quarter ended 31 March 2016. Published 5 May 2016
Sheet 1
Sheet 2
Sheet 3
Sheet 4
Sheet 5
Sheet 6
Sheet 7
Sheet 8
Sheet 9
Sheet 10
Sheet 11
Income statement & free cash flow
BT Global Services
BT Business
BT Consumer
EE
BT Wholesale
Openreach
Broadband
Mobile
Costs & other statistics
Glossary
For further information please contact:
BT Investor Relations
phone
+44 (0)20 7356 4909
email
ir@bt.com
web
www.bt.com/ir
While BT believes the information contained in this document to be reliable, BT does not warrant the accuracy, completeness or validity of the information, figures or calculations
that follow and shall not be liable in any way for loss or damage arising out of the use of the information, or any errors or omissions in its content.
1. Group income statement
2014/15
Q1
£m unless otherwise stated
Revenue1
BT Global Services
BT Business
BT Consumer
EE
BT Wholesale
Openreach
Other
Eliminations
Total
- of which transit
Underlying revenue2 excl. transit (YoY % change)
YoY
Change
2015/16
Q1
2014/15
Q2
%
YoY
Change
2015/16
Q2
2014/15
Q3
%
YoY
Change
2015/16
Q3
2014/15
Q4
%
YoY
Change
2014/15
Full Year
%
1,647
762
1,046
(6.3)
(1.7)
2.7
1,543
749
1,074
1,649
789
1,056
(5.5)
(1.0)
6.7
1,559
781
1,127
1,694
789
1,083
(1.1)
(1.3)
11.3
1,675
779
1,205
1,789
805
1,100
(2.0)
2.0
8.4
525
1,245
19
(890)
4,354
144
1.0
0.3
(15.8)
(0.8)
(1.7)
530
1,249
16
(883)
4,278
109
529
1,245
16
(901)
4,383
141
(1.7)
1.8
18.8
(1.0)
0.0
520
1,267
19
(892)
4,381
99
532
1,255
20
(898)
4,475
141
(0.9)
3.1
5.0
1.0
2.7
527
1,294
21
(907)
4,594
102
571
1,266
18
(910)
4,639
129
(10.9)
1.9
(5.6)
7.8
21.9
0.0%
0.2%
2.0%
-1.0%
4.7%
-1.3%
0.5%
2015/16
Q4
YoY
Change
2015/16
Full Year
%
1,753
821
1,192
1,055
509
1,290
17
(981)
5,656
109
6,779
3,145
4,285
(3.7)
(0.5)
7.3
6,530
3,130
4,598
1,055
2,086
5,100
73
(3,663)
18,909
419
2,157
5,011
73
(3,599)
17,851
555
(3.3)
1.8
0.0
1.8
5.9
1.3%
-0.4%
366
307
311
261
140
700
(9)
2,076
1,047
1,041
1,031
0.1
3.4
0.6
561
2,600
(9)
6,271
(3.4)
2.5
433.3
4.9
1,048
1,076
1,037
261
542
2,664
(48)
6,580
2.0%
1
EBITDA
BT Global Services
BT Business
BT Consumer
EE
BT Wholesale
Openreach
Other
Total
213
240
238
(10.8)
0.0
6.7
190
240
254
226
258
225
(4.4)
1.2
(10.2)
216
261
202
261
266
251
5.7
0.8
7.6
276
268
270
347
277
317
5.5
10.8
(1.9)
126
624
(6)
1,435
11.1
2.4
n/m
1.0
140
639
(14)
1,449
125
627
(11)
1,450
1.6
3.3
n/m
(0.6)
127
648
(12)
1,442
136
651
2
1,567
(0.7)
4.0
n/m
2.9
135
677
(13)
1,613
174
698
6
1,819
(19.5)
0.3
(250.0)
14.1
Depreciation and amortisation1
(652)
(3.7)
(628)
(618)
0.8
(623)
(618)
(4.2)
(592)
(650)
21.1
(787)
(2,538)
3.6
(2,630)
Operating profit1
783
4.9
821
832
(1.6)
819
949
7.6
1,021
1,169
10.3
1,289
3,733
5.8
3,950
Net finance expense1
(145)
(9.0)
(132)
(143)
(21.7)
(112)
(134)
(29.1)
(95)
(138)
4.3
(144)
(560)
(13.8)
(483)
5
1
(1)
(1)
2
(1)
0
(1)
n/m
6
694
690
706
814
928
1,030
1,145
3,172
9.5
3,473
(7)
(55)
(62)
(54)
(73)
(127)
(8)
(56)
(64)
(48)
(72)
(120)
(11)
(55)
(66)
(114)
(74)
(188)
(197)
(55)
(252)
(235)
(292)
(527)
Share of post tax profits/losses of associates & joint ventures1
0
Profit before tax1
638
Specific items
Net interest on pensions
Total specific items
(19)
(73)
(92)
Reported profit before tax
Tax - excluding tax on specific items
Tax on specific items
Tax rate
Net income
1
EPS (p)
Reported EPS (p)
Dividend per share (p)
Average number of shares in issue (m)
8.8
2.3
14.0
11.2
(223)
(221)
(444)
546
15.8
632
563
14.0
642
694
24.2
862
842
6.1
893
2,645
14.5
3,029
(127)
22
19.9%
3.9
(132)
11
19.0%
(137)
20
19.9%
(5.8)
(129)
12
18.3%
(162)
26
19.9%
6.8
(173)
107
18.6%
(205)
53
19.9%
(15.6)
(173)
36
15.1%
(631)
121
19.9%
(3.8)
(607)
166
17.5%
441
15.9
511
446
17.7
525
558
42.7
796
690
9.6
756
2,135
21.2
2,588
6.5
5.6
7,856
3.1
8.9
6.7
6.1
8,330
6.9
5.6
3.9
8,027
0.0
12.5
12.8
6.9
6.3
4.4
8,339
8.0
6.9
8,122
12.5
37.7
9.0
9.5
8,356
10.0
8.4
8.5
8,221
2.0
(4.8)
12.9
10.2
8.0
9.6
9,457
31.5
26.5
12.4
8,056
5.4
12.8
12.9
33.2
29.9
14.0
8,619
n/m
1,449
(626)
(183)
(88)
(446)
106
69
0
(52)
123
(625)
(502)
1,450
(521)
(87)
(136)
(173)
533
19
0
(75)
477
0
477
22.6
1,442
(595)
(65)
(91)
(122)
569
46
0
(30)
585
0
585
1,567
(568)
(183)
(70)
162
908
15
0
4
927
0
927
0.3
1,613
(589)
(181)
(142)
203
904
44
0
(18)
930
0
930
1,819
(792)
(98)
(76)
414
1,267
53
0
(3)
1,317
(876)
441
166.7
2,076
(649)
(112)
(138)
342
1,519
44
0
(132)
1,431
(255)
1,176
6,271
(2,411)
(573)
(415)
(42)
2,830
106
0
(154)
2,782
(876)
1,906
(17.8)
5,819
7,063
(16.2)
5,919
6,202
(19.0)
5,021
5,119
92.3
9,845
5,119
Group free cash flow
1
EBITDA
3
Capital expenditure
Interest
Tax (excluding cash tax benefit of pension deficit payments)
Change in working capital & other
4
Normalised free cash flow
Cash tax benefit of pension deficit payments
Purchases of telecoms licences
Specific items
Reported free cash flow
Gross pension deficit payment
Free cash flow (post pension deficit payments)
1,435
(530)
(205)
(133)
(445)
122
19
0
(80)
61
0
61
Net debt
7,079
1
before specific items
2
excludes specific items, foreign exchange movements and the effect of acquisitions and disposals
3
before purchases of telecommunications licences
4
18.1
(10.7)
(13.1)
n/m
before specific items, purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments
n/m = not meaningful
14.2
(25.3)
6.8
22.6
3.7
(1.1)
(0.4)
0.3
(18.1)
14.3
19.9
8.7
14.8
6,580
(2,459)
(541)
(459)
(23)
3,098
203
0
(232)
3,069
(880)
2,189
92.3
9,845
2.0
(5.6)
9.5
10.3
2013/14
2. BT Global Services
2014/15
2015/16
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
766
-6.9%
559
1.3%
239
-1.2%
188
8.0%
1,752
-2.2%
8
-11.1%
102
-8.1%
756
-9.2%
546
2.4%
242
-3.2%
199
3.1%
1,743
-3.6%
7
-12.5%
99
-5.7%
832
2.2%
552
0.0%
243
3.0%
220
11.7%
1,847
2.7%
8
-20.0%
93
-11.4%
883
-2.4%
587
-5.2%
222
-10.8%
235
6.8%
1,927
-3.3%
8
0.0%
90
-13.5%
3,237
-4.1%
2,244
-0.5%
946
-3.2%
842
7.4%
7,269
-1.7%
31
-11.4%
384
-9.6%
731
-4.6%
521
-6.8%
208
-13.0%
187
-0.5%
1,647
-6.0%
8
0.0%
88
-13.7%
703
-7.0%
511
-6.4%
224
-7.4%
211
6.0%
1,649
-5.4%
6
-14.3%
88
-11.1%
683
-17.9%
549
-0.5%
231
-4.9%
231
5.0%
1,694
-8.3%
7
-12.5%
93
0.0%
760
-13.9%
544
-7.3%
239
7.7%
246
4.7%
1,789
-7.2%
8
0.0%
84
-6.7%
2,877
-11.1%
2,125
-5.3%
902
-4.7%
875
3.9%
6,779
-6.7%
29
-6.5%
353
-8.1%
643
-12.0%
475
-8.8%
221
6.3%
204
9.1%
1,543
-6.3%
7
-12.5%
72
-18.2%
647
-8.0%
510
-0.2%
211
-5.8%
191
-9.5%
1,559
-5.5%
8
33.3%
71
-19.3%
699
2.3%
526
-4.2%
216
-6.5%
234
1.3%
1,675
-1.1%
7
0.0%
73
-21.5%
741
-2.5%
566
4.0%
220
-7.9%
226
-8.1%
1,753
-2.0%
7
-12.5%
84
0.0%
2,730
-5.1%
2,077
-2.3%
868
-3.8%
855
-2.3%
6,530
-3.7%
29
0.0%
300
-15.0%
-3.4%
-4.9%
3.8%
0.6%
-1.0%
-1.5%
-1.1%
-6.6%
-6.3%
-4.0%
-3.8%
-2.4%
2.5%
-2.5%
-1.5%
210
6.6%
222
6.2%
290
17.9%
319
7.0%
1,041
9.6%
213
1.4%
226
1.8%
261
-10.0%
347
8.8%
1,047
0.6%
190
-10.8%
216
-4.4%
276
5.7%
366
5.5%
1,048
0.1%
57
50.0%
70
27.3%
136
56.3%
162
19.1%
425
34.5%
73
28.1%
102
45.7%
134
-1.5%
219
35.2%
528
24.2%
63
-13.7%
86
-15.7%
159
18.7%
222
1.4%
530
0.4%
116
-10.1%
125
-1.6%
143
17.2%
132
-15.9%
516
-3.6%
106
-8.6%
116
-7.2%
121
-15.4%
125
-5.3%
468
-9.3%
86
-18.9%
107
-7.8%
103
-14.9%
119
-4.8%
415
-11.3%
(262)
8.3%
91
-191.9%
111
-33.9%
559
14.8%
499
58.9%
(337)
28.6%
35
-61.5%
52
-53.2%
599
7.2%
349
-30.1%
(292)
-13.4%
113
222.9%
109
109.6%
545
-9.0%
475
36.1%
1,702
47.2%
1,518
18.7%
1,509
-22.1%
2,234
13.1%
6,963
9.7%
1,058
-37.8%
1,307
-13.9%
2,051
35.9%
2,042
-8.6%
6,458
-7.3%
1,201
13.5%
1,784
36.5%
1,666
-18.8%
1,526
-25.3%
6,177
-4.4%
Financial
Revenue (£m)
UK
YoY % change
Continental Europe
YoY % change
US & Canada
YoY % change
AsiaPac, Latam & MEA
YoY % change
Total
YoY % change
- of which internal
YoY % change
- of which transit
YoY % change
Underlying revenue excluding transit (YoY % change)
EBITDA (£m)
YoY % change
Operating profit (£m)
YoY % change
Capex (£m)
YoY % change
Operating free cash flow (£m)
YoY % change
Operational
Order intake (£m)1
YoY % change
1
Historic order book restated in Q1 2014/15 following review of Conferencing order book to fully align with BT Global Services methodology
2013/14
3. BT Business
2014/15
2015/16
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
250
-1.2%
192
2.1%
129
15.2%
149
4.2%
10
-23.1%
55
-16.7%
785
1.3%
101
1.0%
246
-4.3%
199
1.5%
137
14.2%
151
5.6%
7
-46.2%
59
-13.2%
799
0.3%
105
6.1%
251
0.0%
198
0.0%
133
9.9%
157
4.0%
12
-14.3%
57
-14.9%
808
0.7%
103
1.0%
247
-2.4%
199
1.5%
145
-4.0%
167
0.6%
9
-10.0%
54
-22.9%
821
-3.0%
106
-13.1%
994
-2.0%
788
1.3%
544
7.9%
624
3.5%
38
-24.0%
225
-17.0%
3,213
-0.2%
415
-1.9%
239
-4.4%
192
0.0%
126
-2.3%
142
-4.7%
10
0.0%
53
-3.6%
762
-2.9%
88
-12.9%
237
-3.7%
202
1.5%
138
0.7%
146
-3.3%
10
42.9%
56
-5.1%
789
-1.3%
103
-1.9%
239
-4.8%
201
1.5%
133
0.0%
152
-3.2%
10
-16.7%
54
-5.3%
789
-2.4%
99
-3.9%
226
-8.5%
208
4.5%
144
-0.7%
169
1.2%
10
11.1%
48
-11.1%
805
-1.9%
109
2.8%
941
-5.3%
803
1.9%
541
-0.6%
609
-2.4%
40
5.3%
211
-6.2%
3,145
-2.1%
399
-3.9%
225
-5.9%
198
3.1%
130
3.2%
142
0.0%
10
0.0%
44
-17.0%
749
-1.7%
93
5.7%
234
-1.3%
209
3.5%
132
-4.3%
159
8.9%
10
0.0%
37
-33.9%
781
-1.0%
88
-14.6%
232
-2.9%
208
3.5%
133
0.0%
151
-0.7%
9
-10.0%
46
-14.8%
779
-1.3%
102
3.0%
228
0.9%
211
1.4%
143
-0.7%
177
4.7%
9
-10.0%
53
10.4%
821
2.0%
94
-13.8%
919
-2.3%
826
2.9%
538
-0.6%
629
3.3%
38
-5.0%
180
-14.7%
3,130
-0.5%
377
-5.5%
Underlying revenue excluding transit (YoY % change)
0.4%
-0.5%
-0.3%
-2.7%
-0.8%
-2.6%
-0.9%
-1.4%
-1.1%
-1.4%
-0.5%
-0.1%
-0.3%
1.8%
0.3%
EBITDA (£m)
YoY % change
236
7.3%
247
8.8%
257
7.5%
262
3.1%
1,002
6.6%
240
1.7%
258
4.5%
266
3.5%
277
5.7%
1,041
3.9%
240
0.0%
261
1.2%
268
0.8%
307
10.8%
1,076
3.4%
183
13.0%
197
16.6%
206
15.1%
219
11.2%
805
13.9%
197
7.7%
213
8.1%
218
5.8%
233
6.4%
861
7.0%
190
-3.6%
212
-0.5%
220
0.9%
256
9.9%
878
2.0%
33
-21.4%
29
-31.0%
32
6.7%
33
17.9%
127
-10.6%
24
-27.3%
32
10.3%
42
31.3%
89
169.7%
187
47.2%
35
45.8%
37
15.6%
35
-16.7%
31
-65.2%
138
-26.2%
109
-9.9%
217
31.5%
218
-14.5%
255
-7.3%
799
-2.1%
190
74.3%
231
6.5%
224
2.8%
229
-10.2%
874
9.4%
116
-38.9%
215
-6.9%
245
9.4%
243
6.1%
819
-6.3%
471
8.8%
473
-33.2%
499
-8.4%
655
26.9%
2,098
-4.7%
484
2.8%
463
-2.1%
515
3.2%
611
-6.7%
2,073
-1.2%
457
-5.6%
538
16.2%
491
-4.7%
481
-21.3%
1,967
-5.1%
Financial
Revenue (£m)
SME & Corporate voice
YoY % change
SME & Corporate data & networking
YoY % change
IT services
YoY % change
Ireland Business (ex Transit)
YoY % change
Transit
YoY % change
Other (incl. eliminations)
YoY % change
Total
YoY % change
- of which internal
YoY % change
Operating profit (£m)
YoY % change
Capex (£m)
YoY % change
Operating free cash flow (£m)
YoY % change
Operational
Order intake (£m)
YoY % change
Q1
Q2
2013/14
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
2015/16
Q3
Q4
FY
Revenue (£m)
Calls & lines
YoY % change
Broadband & TV
YoY % change
Other (incl. eliminations)
YoY % change
Total
YoY % change
- of which internal
YoY % change
626
-5.3%
300
8.7%
24
9.1%
950
-0.9%
12
20.0%
633
-1.4%
330
17.4%
24
-17.2%
987
3.7%
10
-9.1%
633
-0.6%
351
21.9%
30
7.1%
1,014
6.4%
13
18.2%
659
1.4%
377
23.6%
32
18.5%
1,068
8.8%
14
16.7%
2,551
-1.5%
1,358
18.1%
110
3.8%
4,019
4.5%
49
11.4%
641
2.4%
377
25.7%
28
16.7%
1,046
10.1%
14
16.7%
641
1.3%
387
17.3%
28
16.7%
1,056
7.0%
15
50.0%
648
2.4%
403
14.8%
32
6.7%
1,083
6.8%
16
23.1%
657
-0.3%
414
9.8%
29
-9.4%
1,100
3.0%
17
21.4%
2,587
1.4%
1,581
16.4%
117
6.4%
4,285
6.6%
62
26.5%
644
0.5%
405
7.4%
25
-10.7%
1,074
2.7%
15
7.1%
650
1.4%
452
16.8%
25
-10.7%
1,127
6.7%
16
6.7%
678
4.6%
497
23.3%
30
-6.3%
1,205
11.3%
17
6.3%
672
2.3%
495
19.6%
25
-13.8%
1,192
8.4%
17
0.0%
2,644
2.2%
1,849
17.0%
105
-10.3%
4,598
7.3%
65
4.8%
EBITDA (£m)
YoY % change
231
-6.1%
158
-33.6%
175
-23.2%
269
5.1%
833
-13.9%
238
3.0%
225
42.4%
251
43.4%
317
17.8%
1,031
23.8%
254
6.7%
202
-10.2%
270
7.6%
311
-1.9%
1,037
0.6%
Operating profit (£m)
YoY % change
176
-4.3%
105
-40.0%
120
-27.7%
213
9.2%
614
-14.7%
183
4.0%
171
62.9%
201
67.5%
258
21.1%
813
32.4%
204
11.5%
144
-15.8%
220
9.5%
263
1.9%
831
2.2%
Capex (£m)
YoY % change
56
-5.1%
60
-1.6%
48
-9.4%
47
-30.9%
211
-12.4%
39
-30.4%
52
-13.3%
47
-2.1%
69
46.8%
207
-1.9%
52
33.3%
56
7.7%
46
-2.1%
52
-24.6%
206
-0.5%
Operating free cash flow (£m)
YoY % change
146
46.0%
11
-92.5%
99
-47.9%
216
-0.9%
472
-27.9%
227
55.5%
105
n/m
274
176.8%
207
-4.2%
813
72.2%
211
-7.0%
53
-49.5%
348
27.0%
150
-27.5%
762
-6.3%
370
5.7%
377
6.2%
383
6.7%
391
7.1%
398
7.6%
404
7.2%
410
7.0%
415
6.1%
419
5.3%
427
5.7%
439
7.1%
446
7.5%
4. BT Consumer
2014/15
Financial
Operational
Consumer ARPU (£)
YoY % change
Total Consumer lines ('000)
QoQ movement ('000)
10,070
-130
Active Consumer lines ('000)
QoQ movement ('000)
TV customers ('000)
QoQ movement ('000)
1
10,027
-65
2
9,957
-70
9,908
-49
9,839
-69
9,754
-85
9,694
-60
9,633
-61
9,574
-59
9,522
-52
9,528
6
9,510
-18
9,727
-97
9,715
-34
2
9,675
-40
9,650
-25
9,599
-51
9,534
-65
9,493
-41
9,447
-46
9,400
-47
9,360
-40
9,376
15
9,366
-9
833
23
903
70
956
53
1,002
46
1,007
40
1,045
38
1,090
45
1,142
52
1,202
60
1,308
106
1,397
97
Excludes 7k lines relating to accounts transferred from BT Consumer to BT Business
2
Excludes 22k lines relating to a small acquisition
3
Base adjusted to remove 35k inactive customers
4
Base adjusted to remove 7k inactive customers
1
3
4
1,463
66
5. EE
Q4
FY
913
89
53
1,055
17
913
89
53
1,055
17
261
261
85
85
Capex (£m)
111
111
Operating free cash flow (£m)
310
310
Financial
Revenue (£m)
Mobile service revenue
Fixed, MVNO, M2M
Equipment
Total
- of which internal
EBITDA (£m)
Operating profit (£m)
Note EE's Q4 and FY15/16 results are for the 2 months from acquisition on 29 January 2016
2013/14
6. BT Wholesale
2014/15
2015/16
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
239
22.6%
188
-17.5%
52
-16.1%
55
12.2%
80
-32.8%
24
-4.0%
638
-5.9%
232
17.8%
183
-10.3%
51
-12.1%
59
22.9%
77
-10.5%
22
-4.3%
624
1.3%
199
-4.3%
181
-13.8%
47
-14.5%
66
37.5%
68
-28.4%
28
-3.4%
589
-8.7%
219
-5.6%
157
-23.8%
45
-16.7%
77
37.5%
50
-46.8%
23
-14.8%
571
-14.6%
889
6.9%
709
-16.4%
195
-14.8%
257
27.9%
275
-30.2%
97
-6.7%
2,422
-7.1%
190
-20.5%
144
-23.4%
44
-15.4%
78
41.8%
46
-42.5%
23
-4.2%
525
-17.7%
195
-15.9%
131
-28.4%
41
-19.6%
95
61.0%
43
-44.2%
24
9.1%
529
-15.2%
197
-1.0%
134
-26.0%
39
-17.0%
96
45.5%
38
-44.1%
28
0.0%
532
-9.7%
206
-5.9%
175
11.5%
38
-15.6%
96
24.7%
35
-30.0%
21
-8.7%
571
0.0%
788
-11.4%
584
-17.6%
162
-16.9%
365
42.0%
162
-41.1%
96
-1.0%
2,157
-10.9%
198
4.2%
141
-2.1%
35
-20.5%
103
32.1%
27
-41.3%
26
13.0%
530
1.0%
197
1.0%
131
0.0%
36
-12.2%
116
22.1%
18
-58.1%
22
-8.3%
520
-1.7%
216
9.6%
120
-10.4%
36
-7.7%
116
20.8%
20
-47.4%
19
-32.1%
527
-0.9%
198
-3.9%
112
-36.0%
36
-5.3%
121
26.0%
16
-54.3%
26
23.8%
509
-10.9%
809
2.7%
504
-13.7%
143
-11.7%
456
24.9%
81
-50.0%
93
-3.1%
2,086
-3.3%
Underlying revenue excluding transit (YoY % change)
-0.2%
3.2%
-5.3%
-9.4%
-3.0%
-14.4%
-11.2%
-5.2%
2.9%
-7.1%
5.0%
3.3%
2.6%
-8.0%
0.5%
EBITDA (£m)
YoY % change
157
-3.7%
159
11.2%
146
-4.6%
152
-5.6%
614
-1.0%
126
-19.7%
125
-21.4%
136
-6.8%
174
14.5%
561
-8.6%
140
11.1%
127
1.6%
135
-0.7%
140
-19.5%
542
-3.4%
Operating profit (£m)
YoY % change
93
-6.1%
97
19.8%
86
-3.4%
93
-4.1%
369
0.8%
67
-28.0%
70
-27.8%
79
-8.1%
121
30.1%
337
-8.7%
82
22.4%
72
2.9%
85
7.6%
91
-24.8%
330
-2.1%
Capex (£m)
YoY % change
64
-11.1%
63
10.5%
61
17.3%
56
7.7%
244
4.7%
53
-17.2%
53
-15.9%
49
-19.7%
55
-1.8%
210
-13.9%
44
-17.0%
46
-13.2%
41
-16.3%
46
-16.4%
177
-15.7%
Operating free cash flow (£m)
YoY % change
(31)
287.5%
154
144.4%
30
-73.9%
219
23.0%
372
6.9%
11
-135.5%
60
-61.0%
114
280.0%
93
-57.5%
278
-25.3%
117
963.6%
63
5.0%
120
5.3%
104
11.8%
404
45.3%
509
1.6%
409
32.8%
467
12.3%
525
-34.9%
1,910
-6.0%
264
-48.1%
249
-39.1%
439
-6.0%
956
82.1%
1,908
-0.1%
351
33.0%
349
40.2%
351
-20.0%
454
-52.5%
1,505
-21.1%
Financial
Revenue (£m)
Managed solutions
YoY % change
Calls, lines & circuits
YoY % change
Broadband
YoY % change
IP services
YoY % change
Transit
YoY % change
Other
YoY % change
Total
YoY % change
Operational
Order intake (£m)
YoY % change
2013/14
7. Openreach
2014/15
2015/16
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
548
-10.3%
286
-1.0%
219
5.3%
71
115.2%
121
-6.2%
1,245
-2.0%
806
-5.7%
540
-9.2%
298
1.0%
224
3.2%
86
115.0%
123
-9.6%
1,271
-0.9%
816
-4.0%
532
-10.1%
304
2.4%
225
5.1%
91
71.7%
122
-6.2%
1,274
-0.9%
814
-3.0%
524
-10.0%
300
2.7%
229
3.2%
98
63.3%
120
0.0%
1,271
-0.4%
803
-2.5%
2,144
-9.9%
1,188
1.3%
897
4.2%
346
86.0%
486
-5.6%
5,061
-1.1%
3,239
-3.8%
509
-7.1%
296
3.5%
222
1.4%
104
46.5%
114
-5.8%
1,245
0.0%
769
-4.6%
497
-8.0%
294
-1.3%
218
-2.7%
119
38.4%
117
-4.9%
1,245
-2.0%
764
-6.4%
497
-6.6%
298
-2.0%
224
-0.4%
124
36.3%
112
-8.2%
1,255
-1.5%
764
-6.1%
493
-5.9%
292
-2.7%
227
-0.9%
140
42.9%
114
-5.0%
1,266
-0.4%
767
-4.5%
1,996
-6.9%
1,180
-0.7%
891
-0.7%
487
40.8%
457
-6.0%
5,011
-1.0%
3,064
-5.4%
483
-5.1%
298
0.7%
220
-0.9%
148
42.3%
100
-12.3%
1,249
0.3%
755
-1.8%
480
-3.4%
297
1.0%
227
4.1%
164
37.8%
99
-15.4%
1,267
1.8%
766
0.3%
478
-3.8%
309
3.7%
225
0.4%
180
45.2%
102
-8.9%
1,294
3.1%
768
0.5%
474
-3.9%
299
2.4%
228
0.4%
185
32.1%
104
-8.8%
1,290
1.9%
769
0.3%
1,915
-4.1%
1,203
1.9%
900
1.0%
677
39.0%
405
-11.4%
5,100
1.8%
3,058
-0.2%
605
-4.4%
642
-3.3%
660
-0.3%
694
1.6%
2,601
-1.6%
624
3.1%
627
-2.3%
651
-1.4%
698
0.6%
2,600
0.0%
639
2.4%
648
3.3%
677
4.0%
700
0.3%
2,664
2.5%
236
-14.2%
287
-6.5%
315
3.6%
357
8.8%
1,195
-1.6%
275
16.5%
292
1.7%
319
1.3%
366
2.5%
1,252
4.8%
304
10.5%
318
8.9%
359
12.5%
382
4.4%
1,363
8.9%
Capex (£m)
YoY % change
280
-2.1%
268
-3.6%
249
-13.2%
252
-14.0%
1,049
-8.3%
258
-7.9%
246
-8.2%
300
20.5%
278
10.3%
1,082
3.1%
402
55.8%
348
41.5%
321
7.0%
376
35.3%
1,447
33.7%
Operating free cash flow (£m)
YoY % change
269
-6.9%
311
-5.2%
452
0.9%
460
12.2%
1,492
1.2%
298
10.8%
339
9.0%
471
4.2%
394
-14.3%
1,502
0.7%
270
-9.4%
329
-2.9%
419
-11.0%
401
1.8%
1,419
-5.5%
Financial
Revenue (£m)
WLR
YoY % change
LLU
YoY % change
Ethernet
YoY % change
Fibre broadband
YoY % change
Other
YoY % change
Total
YoY % change
- of which internal
YoY % change
EBITDA (£m)
YoY % change
Operating profit (£m)
YoY % change
Operational
Internal physical lines ('000)
1
13,037
12,934
12,810
12,700
12,574
12,431
12,342
12,245
12,146
12,087
12,059
12,860
External physical lines ('000)
1
5,025
4,875
4,725
4,580
4,551
4,543
4,551
4,509
4,501
4,457
4,439
3,563
6,995
7,239
7,585
7,846
8,013
8,180
8,371
8,586
8,688
8,798
8,874
8,921
25,056
12
25,048
-8
25,120
72
25,126
6
25,139
13
25,154
15
25,265
111
25,341
76
25,335
-6
25,342
7
25,373
30
25,343
-29
Fully unbundled physical lines (MPF) ('000)
Total physical lines ('000) 1
QoQ movement ('000)
1
Restated in Q3 2015/16 for historical base adjustment
8. Broadband
Q1
2013/14
Q2
Q3
Q4
Q1
7,111
150
7,281
170
7,385
104
60%
39%
79%
39%
2014/15
Q2
2015/16
Q2
Q3
Q4
Q1
Q3
Q4
7,473
88
7,592
119
7,713
121
7,796
83
7,879
82
7,996
130
64%
40%
48%
40%
46%
40%
49%
40%
56%
40%
51%
40%
71%
40%
81%
45%
4,076
214
6
906
(8)
4
000s
Total retail broadband
Total retail broadband
Net adds in quarter
Total retail share of DSL + fibre net adds
Total retail share of DSL + fibre installed base
Of which:
Total retail fibre base
Net adds in quarter
3
6,799
95
6,961
156
50%
38%
93%
39%
1,433
197
1,628
195
1,856
228
2,105
249
2,332
226
2,535
203
2,744
209
3,010
266
3,226
217
3,438
212
3,689
250
2,061
-5
2,000
-60
1,886
-114
1,872
-14
1,866
-5
1,859
-8
1,873
14
1,831
-42
1,842
11
1,847
5
1,853
(6)
8,860
6,995
1,963
17,818
189
8,962
7,239
1,786
17,986
168
8,997
7,585
1,656
18,238
252
9,153
7,846
1,455
18,455
217
9,252
8,013
1,353
18,618
163
9,332
8,180
1,288
18,800
182
9,465
8,371
1,222
19,058
258
9,544
8,586
1,175
19,306
248
9,639
8,688
1,128
19,455
149
9,726
8,798
1,091
19,615
160
9,850
8,874
1,073
19,797
182
9,947
8,921
1,059
19,927
130
1,676
1,992
2,330
2,677
3,019
3,363
3,738
4,193
4,582
4,997
5,492
5,907
265
316
339
347
341
344
375
455
389
415
494
415
1
1
9,041
105
4
5
5
Wholesale
BT Wholesale external broadband
Net adds in quarter
3
Openreach2
Internal DSL & fibre broadband (sold to other BT lines of business)
Full LLU (MPF)
Shared LLU (SMPF) + external fibre on WLR lines
Total DSL + fibre
Net adds in quarter
Of which:
Openreach fibre base
Net adds in quarter
1
Excludes 6k lines relating to a small acquisition
2
Includes Northern Ireland
3
Adjusted for 13k account move
4
Base reflects 951k EE broadband lines transferred from Wholesale external broadband base to retail broadband base
5
Net adds includes EE net adds since 29 January 2016 and BT net adds since 31 December 2015
6
Base includes 184k EE fibre broadband lines, transferred from Wholesale external broadband base
7
Net adds adjusted for tranfer of EE from base to BT retail. Includes EE's net adds for January
7
9. Mobile
Q4
000s
Mobile base ('000)
Postpay mobile
Net adds in quarter
Prepay mobile
Net adds in quarter
Machine-to-Machine
Net adds in quarter
MVNO
Net adds in quarter
Total
Net adds in quarter
16,113
165
8,251
-426
2,361
86
3,720
28
30,445
-147
Churn (%)
Average monthly churn
Post pay mobile churn
2.5%
1.1%
Net adds comprise 3 months of BT branded mobile net adds and 2 months of EE net adds since acquisition on 29 January 2016
Base comprises EE and BT branded mobile
2013/14
10. Costs & other statistics
2014/15
2015/16
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Direct labour costs before leaver costs
Indirect labour costs
Leaver costs
Gross labour costs
Capitalised labour
Net labour costs
1,181
210
6
1,397
(238)
1,159
1,173
216
4
1,393
(245)
1,148
1,158
217
1,375
(260)
1,115
1,177
205
4
1,386
(253)
1,133
4,689
848
14
5,551
(996)
4,555
1,177
200
2
1,379
(261)
1,118
1,154
190
1
1,345
(260)
1,085
1,121
200
1
1,322
(273)
1,049
1,093
184
4
1,281
(349)
932
4,545
774
8
5,327
(1,143)
4,184
1,142
184
16
1,342
(290)
1,052
1,141
186
20
1,347
(291)
1,056
1,074
172
62
1,308
(287)
1,021
1,173
169
11
1,353
(288)
1,065
4,530
711
109
5,350
(1,156)
4,194
Payments to telecommunications operators
Property and energy costs
Network operating and IT costs
Programme rights charges
Other costs
Operating costs before depreciation and specific items
646
246
164
794
3,009
639
251
149
50
820
3,057
620
258
142
76
851
3,062
567
204
136
77
926
3,043
2,472
959
591
203
3,391
12,171
530
244
159
78
790
2,919
552
241
153
83
819
2,933
550
238
153
84
834
2,908
512
245
140
85
906
2,820
2,144
968
605
330
3,349
11,580
496
245
136
86
814
2,829
533
241
163
135
811
2,939
517
247
152
162
882
2,981
640
307
159
161
1,248
3,580
2,186
1,040
610
544
3,755
12,329
Depreciation and amortisation
Total operating costs before specific items
Specific items
Total operating costs
697
3,706
84
3,790
677
3,734
52
3,786
670
3,732
46
3,778
651
3,694
94
3,788
2,695
14,866
276
15,142
652
3,571
44
3,615
618
3,551
112
3,663
618
3,526
48
3,574
650
3,470
177
3,647
2,538
14,118
381
14,499
628
3,457
89
3,546
623
3,562
84
3,646
592
3,573
53
3,626
787
4,367
122
4,489
2,630
14,959
348
15,307
116
33
56
64
280
47
596
125
29
60
63
268
50
595
143
32
48
61
249
48
581
132
33
47
56
252
54
574
516
127
211
244
1,049
199
2,346
106
24
39
53
258
36
516
116
32
52
53
246
34
533
121
42
47
49
300
40
599
125
89
69
55
278
62
678
468
187
207
210
1,082
172
2,326
86
35
52
44
402
39
658
107
37
56
46
348
35
629
103
35
46
41
321
41
587
119
31
52
111
46
376
41
776
415
138
206
111
177
1,447
156
2,650
9,957
-70
3,878
-100
13,835
-170
9,908
-49
3,784
-94
13,693
-142
9,839
-69
3,695
-89
13,534
-159
9,754
-85
3,626
-70
13,380
-155
9,694
-60
3,544
-82
13,238
-141
9,633
-61
3,503
-75
13,136
-137
9,574
-59
3,428
-75
13,002
-134
9,522
-52
3,379
-49
12,901
-101
9,528
6
3,315
-64
12,842
-59
10,411
-5
3,228
-87
13,639
-92
7.79
-11.3%
7.59
-12.9%
7.13
-11.6%
7.00
-10.6%
6.92
-11.2%
6.80
-10.4%
6.28
-11.9%
6.19
-11.6%
6.11
-11.7%
6.01
-11.6%
Operating costs (£m)
Capital expenditure (£m)
Capital expenditure by line of business
BT Global Services
BT Business
BT Consumer
EE
BT Wholesale
Openreach
Other
Total
Other Stats
Lines sold through BT lines of business
Total Consumer/EE lines
QoQ movement
Business/Corporate lines
QoQ movement
Total
QoQ movement
10,070
-130
4,071
-101
14,141
-231
Fixed call minutes across BT lines of business (bn)
YoY % change
8.07
-11.0%
1
Excludes 7k lines relating to accounts transferred from BT Consumer to BT Business
2
Excludes 22k lines relating to a small acquisition
3
Excludes 34k lines relating to reporting adjustment
4
Net adds adjusted to remove impact of EE base being added
1
1
10,027
-65
3,978
-93
14,005
-158
7.83
-11.4%
2
2
31.28
-11.6%
3
3
27.85
-11.0%
4
4
24.59
-11.7%
11. Glossary
BT Global Services
Revenue
Underlying revenue excluding transit
Operational
Order intake
Geographic split of revenue is based on the country of origin from which the customer is invoiced. Reported growth rates are not adjusted for the effect of foreign exchange movements.
The YoY change in underlying revenue excluding transit. Underlying revenue excludes specific items, foreign exchange movements and the effect of acquisitions and disposals
Orders for all business types including new business, renewals and extensions. Where a renewal or extension overlaps with a previous contract value reported as Order intake, only the incremental increase is included. Also includes all
orders for BT Global Services's Conferencing and Security units.
BT Business
Revenue
SME & Corporate voice
SME & Corporate data & networking
IT services
Ireland Business (ex Transit)
Transit
Other (incl. eliminations)
Internal
Underlying revenue excluding transit
Operational
Order intake
BT Consumer
Revenue
Calls & lines
Broadband & TV
Other (incl. eliminations)
Internal
Operational
Consumer ARPU
Total consumer lines
Active consumer lines
TV customers
Revenue from calls, lines, mobile and VoIP services. Calls revenue is local and national geographic calls, international direct dial, fixed to mobile, other non-geographic calls and revenue from call packages sold to SMEs and mid-tier
corporates in the UK under both the BT and Plusnet brands. Lines revenue is rentals and connections revenue from analogue and digital lines sold to SMEs and mid-tier corporates in the UK under both the BT and Plusnet brands.
Revenue from broadband, analogue and digital private circuits, and ICT and managed network services sold to SMEs and mid-tier corporates in the UK under both the BT and Plusnet brands.
Revenue from five specialist IT services units in BT Business - BT Engage IT, BT iNet, BT Business Direct, BT Expedite & Fresca and BT Tikit
In Northern Ireland, includes revenue from SMEs and the public sector, plus internal charges related to usage of the network in Northern Ireland. In Republic of Ireland, includes revenue from the corporate sector, the public sector and
from wholesale network services.
Ireland revenues from the carriage of telecoms traffic across BT's network where neither the originating nor the terminating network is owned or controlled by BT (including the pass through of mobile terminating traffic)
Mainly revenue from certain units previously reported within BT Enterprises: BT Directories, BT Redcare, BT Payphones and BT Fleet, as well as Inbound and Select Services revenue. Also includes revenue from audio, video and web
conferencing and collaboration services for business customers in the UK.
Contains IT services & managed networks revenue from BT Global Services; and internal charges from Ireland to other parts of BT relating to usage of the network in Northern Ireland.
The YoY change in underlying revenue excluding transit. Underlying revenue excludes specific items, foreign exchange movements and the effect of acquisitions and disposals
Orders for calls & lines, broadband, IT services and conferencing services sold by BT Business in the UK and Ireland. Includes all connections, installations and one-off charges, plus all recurring charges for the term of the contract.
Excludes orders for volume products such as calls & lines and broadband ordered directly through our outbound sales desks.
All measures include consumers in Northern Ireland, and Plusnet's consumer business
Calls revenue is local and national geographic calls, international direct dial, fixed to mobile, other non-geographic calls and revenue from call packages sold to consumers in the UK. Lines revenue is rentals, connections and calling
features revenue for analogue and digital lines sold to consumers in the UK. Also includes revenue from BT Mobile plans.
Revenue from broadband sold to consumers in the UK. Includes BT Infinity, BT TV and retail and wholesale BT Sport.
Mainly sales of telephones and other equipment, BT Wi-fi direct revenue from the sale of wi-fi vouchers to customers, and wi-fi revenue from corporate customers.
Mainly BT Wi-fi revenue from services sold by BT Global Services on certain contracts; services and applications sold by Plusnet to BT Global Services.
12 month rolling consumer revenue, less mobile POLOs, less BT Sport revenue from: satellite customers paying for the channels, our wholesale deals and from commercial premises. This is divided by the average number of primary lines.
Total number of UK consumer analogue lines and ISDN channels (WLR)
The number of UK consumer lines over which BT is the call provider
Total number of customers, with either a BT Vision or a YouView box, that are registered & enabled on the BT TV platform to receive video on demand. Includes YouView TV from Plusnet
EE
Revenue
Mobile service revenue
Fixed, MVNO, M2M
Equipment
Internal
The revenues (voice, data and messaging) generated through use of the mobile network, including revenues generated by incoming and outgoing calls, network access fees, roaming revenues from customers of other networks and
revenues from value-added services
Revenue from broadband sold to consumers in the UK, revenues from mobile virtual network operators for use of the mobile network and machine to machine customers
Revenues from the sale of handsets, tablets and other mobile devices
Revenues from BT fixed line customers calling EE mobile subscribers, plus revenue from BT Mobile for use of the EE mobile network.
BT Wholesale
Revenue
Managed solutions
Calls, lines & circuits
Broadband
Managed network services, white label managed services and wholesale calls sold to external communications providers (CPs) in the UK. Includes managed broadband network service contracts.
Direct and indirect conveyance, wholesale and international direct dial calls (not sold as part of a managed service), interconnect circuits, private circuits and partial private circuits
IPStream Connect, Datastream and Wholesale Broadband Connect revenue from sales to external CP customers including that not deemed managed solutions. Excludes managed broadband network service contracts.
IP services
Transit
Voice over IP services (including IP Exchange), Fixed Wholesale Ethernet and other wholesale data revenue including MPLS products such as SHDS & IP Clear
UK revenues from the carriage of telecoms traffic across BT's network where neither the originating nor the terminating network is owned or controlled by BT (includes the pass through of mobile terminating traffic)
Other
Underlying revenue excluding transit
Media & Broadcast revenue and equipment sales
The YoY change in underlying revenue excluding transit. Underlying revenue excludes specific items, foreign exchange movements and the effect of acquisitions and disposals
Operational
Order intake
Orders for all business types including new business, renewals and extensions.
Openreach
Revenue
WLR
LLU
Ethernet
Fibre broadband
Other
Internal
Operational
Internal physical lines
External physical lines
Fully unbundled physical lines (MPF)
Internal and external WLR connection and rental revenue
Internal and external SMPF and MPF connection and rental revenue, co-location connection and rental revenue, copper port build, tie cables and TAMs
Internal and external Ethernet connection and rental revenue
Internal and external Fibre connection and rental revenue
Primarily revenue from service-based activity and some legacy connectivity products
Primarily rental and connection revenue related to WLR, SMPF, Ethernet and fibre supplied to the customer-facing BT lines of business
Lines provided by Openreach to other BT lines of business - including EE, Plusnet and physical lines operated by BT Consumer and BT Business in Northern Ireland (includes analogue lines and ISDN lines provided over copper (WLR), but
excludes non-equivalent traded products and ISDN30)
Lines provided by Openreach to external CPs (includes analogue and ISDN lines provided over copper (WLR), but excludes full LLU (MPF) and ISDN30)
MPF lines provided by Openreach to external CPs
Broadband
Total retail broadband
Total retail broadband
Total retail fibre base
Wholesale
BT Wholesale external broadband
Openreach
Internal DSL & fibre broadband
(sold via other BT lines of business)
Full LLU (MPF)
Shared LLU (SMPF) + external fibre on WLR lines
Total DSL + fibre
Openreach fibre base
BT's total retail broadband base (including retail fibre) - BT Consumer (including Plusnet and Northern Ireland), EE, BT Business, and broadband lines sold by Global Services
BT's total retail fibre base - BT Consumer (including Pusnet and Northern Ireland), EE and BT Business. Included within retail broadband numbers
Total broadband lines sold by BT Wholesale to external CP customers
Total broadband (including fibre) lines sold via BT lines of business. Calculated as the sum of 'Total retail broadband' base + 'BT Wholesale external broadband' base
MPF lines provided by Openreach to other external CPs
SMPF lines provided by Openreach to other external CPs - includes fibre provided by Openreach to other CPs on WLR lines
Total number of broadband lines sold by Openreach both internally and externally. Includes fibre. Calculated as the total of the 3 rows above
Total fibre lines sold by Opnreach, both internally to BT lines of business and externally to other CPs. Included within the 'Total DSL + fibre' number
Mobile
Postpay mobile
Prepay mobile
Machine to machine
MVNO
Churn
Customers with whom BT/EE has a formal contractual agreement. The customer is billed on a monthly basis for access fees and any additional voice or data use. Excludes MVNO customers.
Customers who pay in advance for any data or voice use. Excludes MVNO customers
The number of individual machine to machine devices connected to the network
The number of mobile virtual network customers connected to the network, reported a quarter in arrears
Total number of customers who disconnect or are considered to have disconnected from its network, voluntarily or involuntarily (excluding money-back return and fraudulent connections) for the period divided by the weighted average
number of customers over the same period, stated as a monthly average
Costs & other statistics
Total consumer lines (as sheet 4)
Business/Corporate lines
Fixed call minutes across BT lines of business
Total number of UK consumer analogue lines and ISDN channels (WLR) sold by BT Consumer and EE. Includes consumers in Northern Ireland and Plusnet.
Total lines (analogue lines and ISDN channels (WLR)) sold by BT Global Services, BT Business and BT Wholesale
Includes BT Consumer (including Northern Ireland), BT Business (including Northern Ireland) and BT Global Services non-geographic and geographic call minutes - local, national and international call minutes, fixed to mobile, 0800, 0870
and 0845