BT provides Openreach capex historical disclosures
10 June 2021
BT Group provides new Openreach capex pro forma historical disclosures
· Refreshed financial key performance indicators provided for 2019/20 and 2020/21, to improve visibility of Openreach's capital expenditure in value-enhancing investment programmes
BT Group has today published pro forma historical disclosures for wholly-owned, independent subsidiary Openreach. The disclosures are unaudited and provide an indicative history of the company's performance.
The disclosures are designed to improve visibility of capital allocation across the networks that underpin Openreach's products: WLR1, LLU2, FTTC3, Gfast (including single order variants); FTTP4; and Ethernet.
For the full definitions please see the glossary in the pro forma disclosures.
For the avoidance of doubt BT Group's outlook remains unchanged, including reported capital expenditure of c.£4.9bn for the year ending 31 March 2022.
The full disclosures are provided on BT's website.
1 Wholesale line rental
2 Local loop unbundling
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BT Group is the UK's leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.
For the year ended 31 March 2021, BT Group's reported revenue was £21,331m with reported profit before taxation of £1,804m.
British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.
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