Slide 1: A Better BT For All Of Us - FY26 Results
A BETTER BT FOR ALL OF US BT GROUP PLC FY26 RESULTS
Slide 2: Forward-looking statements
2 Forward-looking statements Certain information included in this announcement is forward looking and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by forward looking statements. Forward looking statements cover all
Slide 3: Allison Kirkby, Chief Executive
Allison Kirkby Chief Executive BT Group Plc
Slide 4: FY26 highlights
4 FY26 highlights | Another year of strong delivery Record full fibre build and take-up | More than two-thirds of UK premises now passed Mobile network leadership | 5G+ population coverage up to 73%; triple quality award wins Record NPS | Customer satisfaction up across all brands Customer base grow
Slide 5: Openreach
5 Openreach | Record build and connections, step change in efficiency Broadband revenue Ethernet revenue (£m) (£m) Record FTTP1 build now reaching 67% of UK premises +3% 0% +51% +42% +8% +4% 3,843 3,950 3,949 Record connections: Market- 1,097 1,141 leading FTTP take-up amongst all 1,018 major fibre
Slide 6: Consumer
6 Consumer | Growing customers, converged homes and record NPS Broadband revenue2 Postpaid mobile revenue2 (£m) (£m) Customer growth in all products: +1% -1% broadband, postpaid mobile, TV +2% +1% -2% -2% 0% 3,279 3,224 3,220 Service revenue returned to 4,122 4,163 4,110 growth in Q4 and H2 Record g
Slide 7: Business
7 Business | Transformation underway, growth foundations now laid Total revenue Corporate and public sector revenue (£m) (£m) Service revenue excluding voice -2% drag up 1% -2% +1% ~5,400 5,348 5,257 ~2,400 2,343 2,290 FTTP connections up 44% and 5G connections up 27% SMB2 mobile and IP voice base u
Slide 8: International
8 International | Sharpened focus, divestment of non-core businesses Reported revenue Pro forma2 revenue (£m) (£m) International successfully carved out from 1 July 2025 to focus on -15% -10% ~2,700 ~2,300 2,499 2,129 multi-national connectivity 2,114 1,910 Completed five divestments of non-core ope
Slide 9: Simon Lowth, Chief Financial Officer
Simon Lowth Chief Financial Officer BT Group Plc
Slide 10: Transformation
10 Transformation | Solid progress, ahead of plan Cumulative gross annualised cost savings1 Total headcount3 (£m) (k) +11% 0% Transformation programme delivering ahead of plan -8% -10% 4.5 120 116 3.9 108 3.0 1.5 28 31 £580m annualised cost savings 0.9 31 taking cumulative benefits over 3.0 3.0 3.0
Slide 11: Customer facing units
11 Customer facing units | FY26 summary FY26 Adjusted revenue1 Adjusted UK service Adjusted EBITDA1 Openreach | EBITDA growth ahead revenue1 of revenue with ongoing cost Change Change Change £m £m £m transformation YoY % YoY % YoY % Openreach 6,190 1 6,190 1 4,225 5 Consumer | Solid UK service reven
Slide 12: Financial performance
12 Financial performance | In line with our plan FY26 FY25 Change Adjusted revenue | Driven by lower International revenue £m £m YoY% including divestments, lower handsets and declines in UK Adjusted revenue 19,646 20,370 (4) service revenue UK service revenue 15,445 15,568 (1) UK service revenue |
Slide 13: Allison Kirkby, Chief Executive
Allison Kirkby Chief Executive BT Group Plc
Slide 14: Our strategy
14 Our strategy 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 win BUILD CONNECT ACCELERATE the best, most trusted customers so they thrive, our modernisation to restore digital networks as we grow, in a digital world lea
Slide 15: We have unrivalled network scale, customer reach and trust
15 We have unrivalled network scale, customer reach and trust Unmatched national infrastructure Market-leading retail share Retail market share #1 #1 Fibre network Nearly 31m connections1 Present in 45% of homes with 23m premises passed enabling cross-sell across all channels Mobile network Market-l
Slide 16: The pre-eminent fibre asset in Europe
16 Openreach | The pre-eminent fibre asset in Europe Wholly-owned fibre premises passed and percentage of premises in each country 74% 73% 44% 36% 64% Openreach will be the biggest full fibre network in Europe 25 23 Openreach is wholly-owned by BT, with no off-balance sheet or funding complexity 20
Slide 17: Openreach: Levers to sustainable growth and strong returns
17 Openreach | Levers to sustainable growth and strong returns Building Accelerating Reducing Improving FTTP at pace FTTP take-up repair volumes customer experience Unrivalled national reach for Protect our base Move to FTTP which has Build on proven wholesale our CPs1 structurally lower fault rate
Slide 18: Building and connecting is our best defence
18 Openreach | Building and connecting is our best defence Build – improving our relative competitive position1, 2 Connections – becoming majority fibre, reducing churn2 Openreach Other fibre network presence presence Outcome Fibre % of base Shrinking area ~50% FY26 losses Shrinking area Slight loss
Slide 19: Loved and trusted British brands
19 Consumer | Loved and trusted British brands Simple. The network National champion Affordable. that does more Fun. BT Group Plc
Slide 20: Consumer: Levers to sustainable growth and strong returns
20 Consumer | Levers to sustainable growth and strong returns Growing the Building the Growing converged Improving 5G+ base FTTP base households customer experience Leverage UK mobile Grow share in new FTTP Leverage the UK’s largest Expand digital capabilities network leadership footprint mobile and
Slide 21: Business: Connecting, protecting and supercharging Britain
21 Business | Connecting, protecting and supercharging Britain BT Group Plc
Slide 22: Business: Levers to sustainable growth and strong returns
22 Business| Business Levers to sustainable growth and strong returns Returning to customer Simplifying our networks Upgrading our customers Improving customer base growth and products experience Differentiate with broader, Simplified product and service Leadership in cyber, Sovereign Strong focus o
Slide 23: Simon Lowth, Chief Financial Officer
Simon Lowth Chief Financial Officer BT Group Plc
Slide 24: A clear path to normalised free cash flow growth
24 A clear path to normalised free cash flow growth Change in normalized free cash flow components On track for £2bn milestone £3bn for FY27 with initial reduction in capex Capex reduces by >£1bn post FY26 level to FY30 as FTTP investment is past peak Growing EBITDA from improving top line with cont
Slide 25: Extended and increased transformation programme
25 Extended and increased transformation programme Transformation plan Cost to achieve FY24 – FY29 £3.0bn £1.0bn FY24 – FY30 £3.7bn £1.4bn Of which… 120 Total labour resource 108 (k) Reduction 40 – 45k Openreach workforce TLR 92 Network & 75 – 80 reshaping 77 engineering Product, optimisation journe
Slide 26: Transformation accelerating delivery of structural cost reduction
26 Transformation accelerating delivery of structural cost reduction Improving customer Closing business Workforce reshaping and Delivering cost service applications organisation simplification benefits Reduce fault rates and service Radically simplify our product Complete the FTTP build Shut down l
Slide 27: Rigorous and disciplined approach to capital allocation
27 Rigorous and disciplined approach to capital allocation Invest for Meet pension obligations and Returns to growth maintain strong balance sheet shareholders Capex past peak; spend BTPS1 derisking investments; Maintain strong balance sheet Affordable, sustainable shifts from networks to CX, broadl
Slide 28: Allison Kirkby, Chief Executive
Allison Kirkby Chief Executive BT Group Plc
Slide 29: Outlook
29 Outlook | Path to substantially higher free cash flow FY27 outlook Mid-term guidance Adjusted revenue £19.0bn - £19.5bn Sustained growth Adjusted UK service £15.1bn - £15.4bn Sustained growth revenue Adjusted EBITDA Growth, £8.2 - £8.3bn Sustained ahead of UK service revenue enhanced by cost tran
Slide 30: FY26 highlights
30 FY26 highlights | Another year of strong delivery Record full fibre build and take-up | More than two-thirds of UK premises now passed Mobile network leadership | 5G+ population coverage up to 73%; triple quality award wins Record NPS | Customer satisfaction up across all brands Customer base gro
Slide 31: Q&A
Q&A BT Group Plc
Slide 32: Appendix
Appendix BT Group Plc
Slide 33: Strong progress against our strategic priorities
33 Strong progress against our 12 strategic priorities 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 The best FTTP Reaching over two-thirds The most Consumer custom
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