BT Financial & Performance – Page 8
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PremiumQ4 FY20–21 — Hot property Openreach unruffled as ever
Smoothly navigating fibre, pandemic and all-IP. Gearing up to steamroll the fibre landscape. Altnets seen taking great share of Openreach fibre.
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PremiumDestination: new BT; ETA 2026
Jansen again evangelising glorious digital future: five-year timescale reiterated, with promises of peak fibre investment passing and financial nirvana arriving. Stability predicted for FY21–22. Investors more interested in gruel on today’s menu rather than jam promised tomorrow. The court of public opinion may ultimately rule on five-year tax dodge. ...
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PremiumElsewhere in BT Group: rural rent causing problems
DT feels BT’s pain; EE among the MNOs to take flak for making the most of rural rent reductions.
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Financial & PerformanceBudget 2021: BT benefits but won’t move investment dial
Chancellor Sunak eyes investment-backed build-back. Short term tax break to bolster BT infrastructure expansion. However, gains will be “offset in later years”, and no movement on BT’s number one priority — business rates relief.
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PremiumElsewhere in BT Group: BT Sourced gets hiring
New procurement team hiring; revamp of Plymouth office by 2022; BT hoping to go greener through PPAs.
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PremiumBT Q3 FY20–21 results: gone today, (hopefully) here tomorrow
Nobody obviously interested in Q3, but shares down sharply. Calendar of optimism around pandemic bounce back and fresh starts. Jansen despairingly concedes transformation will take at least five years. BT doing best to railroad Ofcom on fibre-critical WFTMR.
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Strategy & ChangeBT slims down in Brussels: report
Reports emerge that BT Global Services Belgium is planning to cut its staff by 25%. Market changes and COVID-19 impact cited as key drivers. Asset-light strategy apparently reaching Belgian shores.
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Innovation (R&D)BT’s Pelipod stashes smart-locker growth
2016 logistics acquisition reports strong top-line increase but remains loss-making. Investment continuing to focus on development of its IoT-enabled boxes. Report follows mid-2020 takeover by BT’s Procurement department.
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PremiumBT Enterprise dials down on B2B costs
BT Enterprise flags more cost-cutting measures are being implemented as COVID-19 disruption adds to the broader challenges it faces in the digital era. As ever, partner and supplier consolidation and change is part of the plan. CEO Jansen presents enterprise 5G as bright spot amid gloom.
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PremiumBT Group Q2 FY20–21
Revenue and profit keep falling in pandemic. COVID-19 creates noise and uncertainty, but BT is pushing its transformation story, asking for patience as stakeholders get twitchy. Openreach a lone bright spot, although Global may be benefitting from long-term recovery strategy. An improved earnings forecast at BT is not expected ...
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Financial & PerformanceOpenreach fibre thrives but volume deal prospects fade
A strong quarter and half-year for the access services business demonstrates building momentum for fibre services in the face of the pandemic. Anticipated long-term volume deals may not materialise, but associated competitive pressure may help BT arguments on the need for a ‘fair bet’ from Ofcom.
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PremiumBT spend: opex coming down, capex still building to peak
Simplified systems are bringing efficiency but lower trading giving an unwanted helping hand. Capex rising, but a sharp decline is anticipated with copper switch-off.
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PremiumBT guidance: EBITDA recovery on horizon, sales rise fainter
Two more years of revenue decline ahead, but EBITDA improving and underpinning investment plans.
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PremiumMargins slip as BT Consumer pursues quality
Another tough COVID-19-impacted quarter but management playing the long game, with a focus on premium services. Network investment continuing as division seeks an uplift from next-generation platforms. BT reputation improving, but weaknesses remain outside core products, necessitating dual-brand approach. Commercial partnerships remain a key strategic element, but hit to ...
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PremiumBT Global braces for more COVID-19 headwinds
Precipitous revenue declines continue for Global as pandemic makes its presence felt, but mitigation measures and ongoing transformation ease the pain on profit levels. Growing underlying strength of division offers hope beyond an anticipated tough second half.
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Network & InfrastructureLowth downplays tower monetisation benefits
BT is continuing to buck the trend of creating TowerCos as it continues to value control over infrastructure assets.