BT Financial & Performance – Page 7
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OperationsBT and TalkTalk footing the YouView bill as losses mount, Arqiva exits
Latest accounts show the TV platform’s shareholders now down to six, with the two operators keeping the venture afloat. R&D budget remains high at £16m, compared to revenue of just £9m. Telcos remain coy on paying subscribers for their TV services.
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Financial & PerformanceBT OnePhone reports pre-buyout sales jump
Double-digit growth reported by converged comms business ahead of BT’s recent deal to secure full ownership. Despite expansion, question mark continues to hover over payout for stake add-on.
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Financial & PerformanceBT’s M&A chaperone boosts takings
Boutique advisory firm Robey Warshaw reports a 50% jump in sales from corporate deal-making tasks. Partner of BT and Vodafone appears primed to benefit from industry’s new wave of consolidation.
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Suppliers & SCMBT joins audit club to boost supplier sustainability
Pourrat underlines ESG credentials though membership of telco grouping to share best practice on supply chain sustainability. Highlights that BT spent around £13.1bn this year with more than 1,100 direct suppliers in nearly 100 countries, and that understanding impact on environment and society is key.
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PremiumH1 FY21–22: Openreach enters fibre build phase two
Lonely position as sole BT unit posting positive results for the half year. CEO Clive Selley confident of future return on investment: FTTP rollout moving ahead of expectations; uptake supported by Equinox pricing deal and growing consumer demand.
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PremiumH1 FY21–22: Jansen trusts BT Global plan, despite setbacks
CEO focuses on the strategy, rather than current performance, to paint a picture of a viable future for the MNC-focused digital solutions unit. NPS remains a bright spot for Global, highlighting material gains from the BT transformation plan. Declining margins suggest work still to be done on recovery.
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PremiumH1 FY21–22: Legacy still a drag on BT Enterprise
Legacy declines continued to outpace new service and digital growth, while mobile wholesale losses dimmed Q2 performance. EBITDA performance buoyed by lower costs. Jansen remains confident in Enterprise’s ability to grow again as CEO Rob Shuter’s organisational changes and new operating model take shape.
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PremiumH1 FY21–22: flat figures at BT Consumer do not curb Jansen enthusiasm
Consumer division sees revenue and earnings knock in Q2. Numbers show slow going on multi-play uptake, and star product and service lines being outshone by accessories. Executives remain bullish on the long-term growth promise of convergence, however.
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Premium
H1 FY21–22 Guidance: BT’s past investment heralded as future hope
Progress on track and meeting expectations, with management pitching Enterprise as the one to watch for revenue growth. Fibre build phase “done” with anticipated returns to be reaped during “selling and populating” phase, now underway. Build moves Openreach to ‘fibre franchise’, with market rivals striving for scale.
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PremiumH1 FY21–22 Spend: efficiencies found to give BT an edge
Improved cost points for BT’s fibre rollout front and centre, make for positive viewing. Operating expenditure down across the board, and capex up at CFUs.
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Innovation (R&D)UK telcos getting back to the labs, with 4.5%-R&D rise
UK telecoms players laid out more than £1bn on innovation during 2020, the first time they have done so since 2011. Ostensibly led by spend patterns at BT, sector has been regaining some of the significant ground it has lost after tightening budgets during downturn.
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PremiumH1 FY21–22 Headlines: an uphill climb for some, others still falling at BT
Struggling enterprise businesses bring numbers down, with legacy stop-sells blamed and next-generation services expected to drive a turnaround. Consumer flat as wins offset losses, but market opportunity growing despite upped competition. Openreach a prince among paupers with fibre goals accelerated amid strong uptake and bullish stance.
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PremiumH1 FY21–22 at BT: scale and service to beat competition
InfraCo JV talks closed as rising fibre demand and lower build costs dilute benefits of external funding. CFUs continue their struggle, with Global faring especially poorly in pandemic bounce-back, but new services and improved brand reputation appear a source of hope. Future revenue growth anticipated, but efficiencies and reduced ...
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Financial & PerformanceOpenreach accelerates provisioning to leave rivals in starting blocks
CEO Clive Selley on fibre build: phase one is “done”; now onto “selling and populating” stage. Bullish Business Briefing shows Openreach determined to establish its ‘fibre franchise’ as a marketplace while rivals strive for scale. Build process moving towards cruise control with Openreach cornering the market in skills.
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Strategy & ChangeOpenreach off the table as BT drives fibre efficiency
Group ends talks on InfraCo JV as rising fibre demand and lower build costs dilute benefits of external funding. Virgin Media O2 firmly in BT sights as it aims to lock up wholesale market, and move fast on convergence. Future revenue growth anticipated, but greater efficiency and lower spending ...
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Financial & PerformanceBT highlights cost-cutting progress as Drahi waits in wings
Group confirms it has achieved its headline £1bn savings target well ahead of original March 2023 deadline. Announcement is an attempt to display strengths ahead of this week’s Q2 results and in the face of potential Altice takeover bid before the end of the year.
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PremiumCityFibre bags fresh cash injection
Openreach challenger announces fresh funds through stake sale and bond issue. Capital “enables” Project Gigabit ambitions. CityFibre’s FTTP rollout reaches 650,000 premises. Altnet momentum builds with an estimated £8bn in investment publicly promised.
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M&ACityFibre eyes fresh cash injection
Press reports suggest Openreach challenger will announce fresh funds through stake sale and bond issue.
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PremiumQ1 FY21–21: Consumer slips into recover mode
Work in progress to deliver on the converged, addvalue dream. Initial pandemic bounce back benefits BT Sport, but mobile still in hibernation. Strong performance on FTTP, but rivals stepping up.
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PremiumQ1 FY21–22: Enterprise down but not out
Bad ‘old’ still swamping the ‘new’. Positives in an order book rebound and improved EBITDA. Shuter has a huge task to pivot the division, but clear opportunity for ‘New BT’.