News Release
DC14-260
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.
1
1
Appendix – impact of restatements on 2013/14
£m
As previously reported - 2013/14
Q1
Q2
Q3
Q4
FY
BT Global Services
Revenue
1,696 1,694 1,794 1,857
7,041
EBITDA
182
201
263
286
932
Free cash flow
(280)
74
78
517
389
Q1
Adjustments
Q2
Q3
Q4
56
28
18
49
21
17
53
27
33
Restated - 2013/14
Q2
Q3
Q4
FY
Q1
FY
70
33
42
228
109
110
1,752
210
(262)
1,743
222
91
1,847
290
111
1,927
319
559
7,269
1,041
499
BT Business
Revenue
EBITDA
Free cash flow
863
262
125
871
268
240
880
281
247
895
287
280
3,509
1,098
892
(78)
(26)
(16)
(72)
(21)
(23)
(72)
(24)
(29)
(74)
(25)
(25)
(296)
(96)
(93)
785
236
109
799
247
217
808
257
218
821
262
255
3,213
1,002
799
BT Consumer
Revenue
EBITDA
Free cash flow
950
231
146
987
158
11
1,014
175
99
1,068
269
216
4,019
833
472
-
-
-
-
-
950
231
146
987
158
11
1,014
175
99
1,068
269
216
4,019
833
472
BT Wholesale
Revenue
EBITDA
Free cash flow
638
157
(31)
624
159
154
589
146
30
571
152
219
2,422
614
372
-
-
-
-
-
638
157
(31)
624
159
154
589
146
30
571
152
219
2,422
614
372
Openreach
Revenue
EBITDA
Free cash flow
1,245
605
269
1,271
642
311
1,274
660
452
1,271
694
460
5,061
2,601
1,492
-
-
-
-
-
1,245
605
269
1,271
642
311
1,274
660
452
1,271
694
460
5,061
2,601
1,492
Other
Revenue
EBITDA
Free cash flow
28
3
(289)
14
6
(180)
26
12
(352)
63
17
(346)
131
38
(1,167)
(10)
(2)
(2)
4
0
6
(12)
(3)
(4)
(31)
(8)
(17)
(49)
(13)
(17)
18
1
(291)
18
6
(174)
14
9
(356)
32
9
(363)
82
25
(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
EBITDA
Free cash flow
4,449
1,440
(60)
4,491
1,434
610
4,599
1,537
554
4,748
1,705
1,346
18,287
6,116
2,450
-
-
-
-
-
4,449
1,440
(60)
4,491
1,434
610
4,599
1,537
554
4,748
1,705
1,346
18,287
6,116
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
2
1
Appendix – impact of restatements on 2012/13
£m
As previously reported - 2012/13
Q1
Q2
Q3
Q4
FY
BT Global Services
Revenue
1,731
1,757
1,748
1,934
7,170
EBITDA
171
182
215
264
832
Free cash flow
(263)
(119)
140
454
212
Q1
Adjustments
Q2
Q3
Q4
60
26
21
52
27
20
51
31
28
Restated - 2012/13
Q2
Q3
Q4
FY
Q1
FY
59
34
33
222
118
102
1,791
197
(242)
1,809
209
(99)
1,799
246
168
1,993
298
487
7,392
950
314
BT Business
Revenue
EBITDA
Free cash flow
849
244
140
870
252
183
875
267
280
922
284
304
3,516
1,047
907
(74)
(24)
(19)
(73)
(25)
(18)
(73)
(28)
(25)
(76)
(30)
(29)
(296)
(107)
(91)
775
220
121
797
227
165
802
239
255
846
254
275
3,220
940
816
BT Consumer
Revenue
EBITDA
Free cash flow
959
246
100
952
238
147
953
228
190
982
256
218
3,846
968
655
-
-
-
-
-
959
246
100
952
238
147
953
228
190
982
256
218
3,846
968
655
BT Wholesale
Revenue
EBITDA
Free cash flow
678
163
(8)
616
143
63
645
153
115
669
161
178
2,608
620
348
-
-
-
-
-
678
163
(8)
616
143
63
645
153
115
669
161
178
2,608
620
348
Openreach
Revenue
EBITDA
Free cash flow
1,270
633
289
1,283
664
328
1,286
662
448
1,276
683
410
5,115
2,642
1,475
-
-
-
-
-
1,270
633
289
1,283
664
328
1,286
662
448
1,276
683
410
5,115
2,642
1,475
Other
Revenue
EBITDA
Free cash flow
19
(5)
(382)
19
9
(286)
21
14
(366)
42
16
(263)
101
34
(1,297)
(13)
(2)
(2)
(10)
(2)
(2)
(7)
(3)
(3)
(17)
(4)
(4)
(47)
(11)
(11)
6
(7)
(384)
9
7
(288)
14
11
(369)
25
12
(267)
54
23
(1,308)
(1,002)
(1,004)
(1,001)
(1,010)
(4,017)
27
31
29
34
121
(975)
(973)
(972)
(976)
(3,896)
4,504
1,452
(124)
4,493
1,488
316
4,527
1,539
807
4,815
1,664
1,301
18,339
6,143
2,300
-
-
-
-
-
4,504
1,452
(124)
4,493
1,488
316
4,527
1,539
807
4,815
1,664
1,301
18,339
6,143
2,300
Intra-group items
Revenue
TOTAL
Revenue
EBITDA
Free cash flow
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
3
1
Appendix – impact of restatements on 2011/12
£m
As previously reported - 2011/12
Q1
Q2
Q3
Q4
FY
BT Global Services
Revenue
1,906
2,015
1,895
1,996
7,812
EBITDA
189
210
196
240
835
Free cash flow
(9)
(4)
186
218
391
Q1
Adjustments
Q2
Q3
Q4
49
22
8
61
26
25
60
33
34
Restated - 2011/12
Q2
Q3
Q4
FY
Q1
FY
60
32
35
230
113
102
1,955
211
(1)
2,076
236
21
1,955
229
220
2,056
272
253
8,042
948
493
BT Business
Revenue
EBITDA
Free cash flow
884
250
177
903
253
218
895
264
209
912
270
252
3,594
1,037
856
(70)
(21)
(3)
(75)
(24)
(22)
(76)
(26)
(29)
(79)
(27)
(27)
(300)
(98)
(81)
814
229
174
828
229
196
819
238
180
833
243
225
3,294
939
775
BT Consumer
Revenue
EBITDA
Free cash flow
979
216
140
981
214
140
985
214
100
980
238
212
3,925
882
592
-
-
-
-
-
979
216
140
981
214
140
985
214
100
980
238
212
3,925
882
592
BT Wholesale
Revenue
EBITDA
Free cash flow
759
172
(16)
737
171
88
734
168
10
713
156
177
2,943
667
259
-
-
-
-
-
759
172
(16)
737
171
88
734
168
10
713
156
177
2,943
667
259
Openreach
Revenue
EBITDA
Free cash flow
1,269
617
256
1,294
648
431
1,313
672
385
1,311
681
442
5,187
2,618
1,514
-
-
-
-
-
1,269
617
256
1,294
648
431
1,313
672
385
1,311
681
442
5,187
2,618
1,514
Other
Revenue
EBITDA
Free cash flow
13
(16)
(347)
13
(8)
(310)
18
2
(256)
22
17
(392)
66
(5)
(1,305)
(9)
(1)
(5)
(10)
(2)
(3)
(14)
(7)
(5)
(15)
(5)
(8)
(48)
(15)
(21)
4
(17)
(352)
3
(10)
(313)
4
(5)
(261)
7
12
(400)
18
(20)
(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)
4,917
1,488
563
4,796
1,516
634
4,896
1,602
909
19,397
6,034
2,307
-
-
-
-
-
4,788
1,428
201
4,917
1,488
563
4,796
1,516
634
4,896
1,602
909
19,397
6,034
2,307
TOTAL
Revenue
EBITDA
Free cash flow
1
4,788
1,428
201
Before specific items. Free cash flow is before purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments
4