BT Group (BTA) Q1 2025 TU earnings summary

Executive summary

• Solid start to the year with growth in fibre build, connections, and increased EBITDA.

• Openreach reached 15 million premises built and 5 million connections, with strong FTTP demand and orders up 29% year-over-year.

• Consumer and Business segments showed improved trends despite a competitive market and expected revenue declines.

• Ongoing cost transformation supported EBITDA growth, offsetting revenue declines.

• On track to deliver financial outlook for FY25 and targeted cash flow inflection by 2027 and decade end.

Financial highlights

• Adjusted revenue was £5.1bn, down 2% year-over-year, mainly due to legacy contract declines and reduced low margin sales.

• Adjusted EBITDA rose 1% to £2.1bn, driven by transformation and cost control.

• Reported profit before tax was £520m, down 3% year-over-year.

• Openreach broadband ARPU grew 6% year-over-year; Consumer broadband ARPU up 1% to £42.4; Consumer postpaid mobile ARPU up 0.5% to £19.8.

Outlook and guidance

• All FY25 financial outlook metrics reconfirmed.

• Cash flow inflection targeted at approximately £2.0bn in 2027 and £3.0bn by the end of the decade.