BT Group (BTA) Q1 2026 TU earnings summary

Executive summary

• Solid start to the year with full fibre broadband reaching over 19 million premises and 5G covering 87% of the UK population.

• Record Openreach fibre take-up, strong demand for next-generation broadband and mobile across all brands.

• Transformation initiatives delivering business simplification and improved customer experience.

Financial highlights

• Reported and adjusted revenue at £4.9bn, down 3% year-over-year, mainly due to weaker handset sales and challenging international trading.

• Adjusted UK service revenue at £3.9bn, down 1% year-over-year.

• Adjusted EBITDA at £2.1bn, down 1% year-over-year, with cost transformation offsetting adverse revenue.

• Reported profit before tax of £468m, down 10% year-over-year, primarily due to higher net finance costs and depreciation/amortisation.

Outlook and guidance

• On track to achieve full-year guidance and reconfirming all FY26 and multi-year financial outlook metrics.

• Full-year expectations for Openreach broadband lines remain unchanged.