BT Group PLC (LSE:BT.A) raised its target for rolling out full-fibre broadband as it posted full-year results that were bang in line with expectations in most measures.
The former telecoms monopoly, which is facing increased competition from 'alt net' rivals, said it is investing in its Openreach arm to build up to 5 million additional fibre premises in its new financial year, targeting 25 million by the end of 2026 and as many as 30 million by 2030.
It expects to keep its capital expenditure outlay at around £5 billion to do this, the same as the past year, which saw the full fibre network expanded to over 18 million premises.
For the past year, the FTSE 100 group reported a 1% rise in adjusted EBITDA to £8.2 billion for the year to 31 March, as cost savings helped offset a 2% fall in revenue to £20.4 billion.
The company cited lower international and handset sales as the main drivers of the revenue decline, though both revenue and EBITDA were as the market expected.
Normalised free cash flow increased 25% to £1.6 billion, exceeding guidance, while the full-year dividend was raised 2% to 8.16p per share. Net debt ended the year at £19.8 billion, higher than the £15.2 billion that analysts expected.
Cost savings of £913 million were made on an annualised basis, in line with its transformation programme.
Chief executive Allison Kirkby said: “BT Group delivered strong progress against its strategic priorities in FY25, as we stepped up the pace of build of the UK's leading next generation networks."
She reaffirmed EBITDA guidance for the coming year at £8.2–£8.3 billion, with normalised free cash flow of around £1.5 billion.