Bt Group Plc · LSE:BT.A
Bt — H1 FY24 Earnings Presentation
17 slides from Bt's earnings presentation, Nov 2, 2023
Slide 1: BT Group plc H1 FY24 results
BT Group PowerPoint | 1 BT Group plc H1 FY24 results 2 November 2023
Slide 2: Forward looking statements caution
Forward looking statements caution 2 Certain information included in this announcement is forward Accordingly, no assurance can be given that any particular looking and involves risks, assumptions and uncertainties that could expectation will be met and readers are cautioned not to place cause actua
Slide 3: Philip Jansen, Chief Executive
Philip Jansen Chief Executive
Slide 4: H1 FY24 Highlights
H1 FY24 Highlights 4 Strong H1 financial and Accelerated Confirmed FY24 Reaffirmed long term operating performance transformation outlook ambition Original £2.5bn gross Capital expenditure c.£5.0bn Consistent and predictable Adjusted revenue and annualised cost savings growth in revenue and EBITDA g
Slide 5: H1 FY24 Results Highlights
H1 FY24 Results Highlights 5 Q2 FY24 H1 FY24 £m Change YoY %1 £m Change YoY %1 Adjusted revenue2 5,250 2 10,414 3 Adjusted EBITDA2 2,061 3 4,094 4 Reported capex - - 2,321 (11) Normalised free cash flow3 - - 456 nm Dividend (pps) - - 2.31 flat 1 On a proforma basis 2Before specific items; 3After net
Slide 6: H1 FY24 Summary of customer facing units
H1 FY24 Summary of customer facing units 6 Q2 FY24 H1 FY24 Adjusted Revenue Adjusted EBITDA Adjusted Revenue Adjusted EBITDA £m Change YoY %1 £m Change YoY %1 £m Change YoY %1 £m Change YoY %1 Consumer 2,480 3 674 2 4,903 3 1,347 4 Business 2,073 flat 420 (10) 4,100 1 806 (11) Openreach 1,527 8 971
Slide 7: Strengthening our competitive position
Strengthening our competitive position 7 Accelerating our growth strategy Investing in networks and Increasing focus on simplification digitalisation and cost efficiency ▪ Openreach FTTP take up now 33% ▪ FTTP footprint now 12m premises; ▪ £2.5bn gross annualised cost work in progress 6m premises sa
Slide 8: BT Group of the future – we connect for good
BT Group of the future – we connect for good 8 Consumer: The UK’s Business: The leading The leading UK-wide leading connectivity and connectivity and digital fixed access wholesaler digital services platform services platform Nationwide FTTP Best performing fixed connectivity Networks Best Ethernet
Slide 9: Drive Consumer growth through converged propositions and services
Drive Consumer growth through converged propositions 9 and services Key growth Drive FTTP and Drive convergence Deliver best in class Price fairly drivers 5G penetration take up customer experience and transparently Market-leading FTTP base Largest 5G base Growing converged households (m) (m) Future
Slide 10: Capitalise on Business's unrivalled assets to restore growth
Capitalise on Business’s unrivalled assets to restore 10 growth Key growth Expand customer Drive adoption of Grow value-added Simplify and digitise drivers base next gen connectivity solutions and bundles customer journeys Improving Managed Growing UK RGUs1 Services revenue (m) (£bn) 11 5.1 4.7 4.7
Slide 11: Deliver Openreach growth and strong returns on FTTP
Deliver Openreach growth and strong returns on FTTP 11 Key growth Build Migrate customers Deliver great Price fairly and drivers FTTP at pace to FTTP at pace service transparently Passing 25m-30m premises with FTTP Accelerating FTTP take up Reducing repair volumes (m) (%) (m) 25-30 40-55 3.5 3.1 c.4
Slide 12: Digitise, automate and reskill to transform our cost base and improve productivity
Digitise, automate and reskill to transform our cost base 12 and improve productivity Shut down legacy IT Migrate customers Key growth Simplify Digitise and automate and move to strategic onto our strategic drivers product portfolio customer journeys digital tech products and networks Closing busine
Slide 13: Strategic metrics – much done, much more to do
Strategic metrics – much done, much more to do 13 Actuals Future BT Group FY19 FY23 H1 FY24 FY28-FY30 Openreach FTTP premises passed 1.2m 10.3m 11.9m 25m-30m Networks Openreach FTTP take up 25% 30% 33% 40-55% 5G UK population coverage 0% 68.1% 71.8% >98% Retail FTTP take up1 284k 1.8m 2.2m 6.5m-8.5m
Slide 14: Summary | much done, much more to do
Summary | much done, much more to do 14 Accelerating our growth Investing in networks and strategy digitalisation ▪ Openreach FTTP take up now 33% ▪ FTTP footprint now 12m premises; work in progress 6m premises Uplift from increased ▪ 350k retail FTTP Connections in H1 ▪ Record Q2 FTTP build 860k pr
Slide 15: BT Group plc H1 FY24 results
BT Group PowerPoint | 15 BT Group plc H1 FY24 results 2 November 2023
Slide 16: BT Group
BT Group
Slide 17: Strategic metrics – definitions
Strategic metrics – definitions 17 metric Definition Openreach FTTP premises passed Total Openreach premises passed Network % Openreach FTTP take up - Openreach connections as proportion of Openreach Openreach FTTP take up premises passed 5G UK population coverage Population coverage of 5G network b