Bt Group Plc · LSE:BT.A
Bt — H1 FY26 Earnings Presentation
21 slides from Bt's earnings presentation, Nov 6, 2025
Slide 1: A better BT for all of us
A better BT for all of us BT Group plc H1 FY26 results
Slide 2: Forward looking statements caution
BT Group plc H1 FY26 results 6 November 2025 2 Forward looking statements caution 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 expectation will be met and readers
Slide 3: Allison Kirkby, Chief Executive
BT Group plc H1 FY26 results 6 November 2025 3 Allison Kirkby Chief Executive
Slide 4: Delivering on our strategy in competitive markets
BT Group plc H1 FY26 results 6 November 2025 4 Delivering on our strategy in competitive markets Solid UK performance | Mitigating International and legacy declines Clear network leadership | In FTTP, 5G and secure networking Openreach continues to break records | Build and take-up accelerated Consu
Slide 5: Creating a better BT for all of us
BT Group plc H1 FY26 results 6 November 2025 5 Creating a better BT for all of us Why we’re here We connect for good Who we’ll become The UK’s most trusted connector of people, business and society How we’ll succeed Build Connect Accelerate the best, most trusted customers so they thrive, our modern
Slide 6: Strategy progress in H1 FY26
BT Group plc H1 FY26 results 6 November 2025 6 Strategy progress in H1 FY26 Build Connect Accelerate the best, most trusted customers so they thrive, our modernisation to restore digital networks as we grow, in a digital world leadership in everything we do New record FTTP1 build | A further 2.2m Ne
Slide 7: Building the best, most trusted networks
BT Group plc H1 FY26 results 6 November 2025 7 Building the best, The only nationwide FTTP network most trusted networks 34% 35% 36% 38% 301 33% 25 30% 20 Record FTTP build and take-up 27% 18 16 • Largest national FTTP footprint 14 12 • Accelerating towards our ‘up to 5m’ 10 9 build for FY26 6.5 >7.
Slide 8: Openreach: Build and take-up accelerated; Continued EBITDA growth
BT Group plc H1 FY26 results 6 November 2025 8 Copper FTTP Openreach | Broadband Revenue (£m) Ethernet Revenue (£m) Build and take-up FTTP +44% +5% accelerated; Continued 1,932 1,911 1,986 1,964 1,988 548 549 574 504 514 EBITDA growth Record build and take-up • FTTP footprint now reaches >20.3m prem
Slide 9: Consumer: Winning customers in a competitive market
BT Group plc H1 FY26 results 6 November 2025 9 Broadband FTTP Consumer | Broadband Revenue (£m) Postpaid Mobile2 Revenue (£m) Winning customers in -2% -1% a competitive market 2,088 2,034 2,104 2,059 2,063 1,695 1,584 1,635 1,589 1,613 Commercial momentum • Service revenue stable ex legacy voice • B
Slide 10: Business: Showing signs of stability, as transformation steps up
BT Group plc H1 FY26 results 6 November 2025 10 Service revenue Equipment revenue FTTP 5G Business | Revenue (£m) Growing FTTP and 5G connections (k) Showing signs of -2% 2,751 stability, as 2,644 2,704 2,589 2,066 2,368 275 transformation steps up 194 220 UK is stabilising • Positive impact from de
Slide 11: Transformation: Solid progress, ahead of plan
BT Group plc H1 FY26 results 6 November 2025 11 Current programme Previous programme Transformation | Cumulative gross annualised cost savings2 (£bn) Total headcount (k) Solid progress, ahead 24% -6% of plan 123 120 3.9 4.2 118 116 111 3.4 3.0 2.5 £3bn programme delivering ahead of plan • £247m annu
Slide 12: Transformation: Plans advanced to reshape International
BT Group plc H1 FY26 results 6 November 2025 12 Transformation | Agreed or completed our targeted Plans advanced to international disposals during FY261 reshape International 2019 2020 2021 2025 Reshaping International will further BT Germany BT LatAm Italy public sector Ireland domestic simplify BT
Slide 13: Simon Lowth, Chief Financial Officer
BT Group plc H1 FY26 results 6 November 2025 13 Simon Lowth Chief Financial Officer
Slide 14: Financial performance in line with our plan
BT Group plc H1 FY26 results 6 November 2025 14 Financial performance in line with our plan H1 FY26 H1 FY25 Change £m £m YoY% Adjusted revenue dragged by International, legacy voice and lower Adjusted revenue1 9,806 10,138 (3) handsets UK Service revenue -1%, after c£100m UK Service revenue1 7,726 7
Slide 15: Summary of H1 FY26 customer facing units
BT Group plc H1 FY26 results 6 November 2025 15 Summary of H1 FY26 customer facing Adjusted revenue Adjusted EBITDA units in H1 FY26 £m Change YoY % £m Change YoY % Openreach 3,131 - 2,148 4 Openreach EBITDA growth ahead of revenue with ongoing cost transformation Consumer 4,684 (3) 1,274 (4) Consum
Slide 16: Allison Kirkby, Chief Executive
BT Group plc H1 FY26 results 6 November 2025 16 Allison Kirkby Chief Executive
Slide 17: Outlook: All metrics reconfirmed
BT Group plc H1 FY26 results 6 November 2025 17 Outlook | All metrics reconfirmed FY26 End of decade Adjusted revenue ~£20bn Sustained growth from FY27 UK Service revenue £15.3bn-15.6bn Sustained growth from FY27 Consistent and predictable growth ahead of Adjusted EBITDA £8.2bn-8.3bn revenue enhance
Slide 18: Delivering on our strategy in competitive markets
BT Group plc H1 FY26 results 6 November 2025 18 Delivering on our strategy in competitive markets Solid UK performance | Mitigating International and legacy declines Clear network leadership | In FTTP, 5G and secure networking Openreach continues to break records | Build and take-up accelerated Cons
Slide 19: Appendix
BT Group Plc FY25 results 22 May 2025 19 BT Group plc H1 FY26 results 6 November 2025 Appendix
Slide 20: Q2 FY26 Customer Facing Units results
BT Group plc H1 FY26 results 6 November 2025 20 Q2 FY26 Customer Facing Units results Q2 FY26 Adjusted Revenue Adjusted EBITDA £m Change YoY % £m Change YoY % Openreach 1,565 - 1,080 4 Consumer 2,352 (3) 638 (5) Service revenue 1,970 (1) - - Business 1,302 (2) 324 (1) Service revenue 1,187 (1) - - U
Slide 21: Strategic KPIs
BT Group plc H1 FY26 results 6 November 2025 21 Strategic KPIs Actuals Future BT Group FY25 H1 FY26 FY28-FY30 Build Openreach FTTP premises passed 18.1m 20.3m 25m-30m the best, most trusted Openreach FTTP take-up 36% 38% 40-55% digital networks 5G UK population coverage 85% 89% 99% Connect Retail FT