Business
Trading Statement
Trading Statement.
About this update from Bt Group Plc
[{"type":"text","content":"\n\n \nTrading update for the three months to 30 June 2024\nBT Group plc - 25 July 2024\n\n\n\n\nAllison Kirkby, Chief Executive, commenting on the results, said\n\"We've made a solid start to the year, with excellent growth in both fibre build and connections, and increased EBITDA.\n \n\"Openreach continues to build at pace and with even more efficiency, passing the milestones of 5 million connections and - just yesterday - 15 million premises built. In Consumer, the widespread availability of FTTP and 5G combined with our new EE propositions has contributed to an improved trend in our customer base, in what remains a very competitive market. In Business, we also saw improved trends, as we continue to modernise our portfolio and our operations towards a simpler business, delivering secure, cloud-based connectivity and communication services for all our customers.\n \n\"Our ongoing cost transformation contributed to EBITDA growth, and more than offset the expected revenue declines in Consumer and Business in the quarter. There is much more to do to simplify BT Group and deliver for our customers. We remain on track to deliver our financial outlook for this year and our cash flow inflection to c. £2.0bn in 2027 and c. £3.0bn by the end of the decade.\"\n\n\n\n\nStrategic priorities delivering to plan:\n• Record FTTP build of over 1m premises passed in the quarter at an average build rate of 78k per week; FTTP footprint is now 15m with 4.2m rural premises passed and around a further 6m where initial build is underway\n• FTTP customer base surpassed 5m during the quarter; strong FTTP demand with orders up 29% year-on-year; take up rate is at 34% with continued strong net adds of 387k\n• Openreach broadband ARPU grew by 6% year-on-year due to price rises and increased volumes of FTTP; Openreach broadband line losses of 196k, with moderately higher competitor losses combined with a weaker overall broadband and new homes market\n• Consumer broadband ARPU up 1% year-on-year to £42.4 and Consumer postpaid mobile ARPU increased 0.5% year-on-year to £19.8, with positive mix effects offsetting the expected tougher pricing comparative\n• Consumer base trend improved despite a competitive market, with the broadband base down 28k quarter-on-quarter (0.3% decline) and p...