BT Group provides refreshed pro forma KPIs

BT Group PLC

27 June 2023

 

BT Group provides refreshed external KPIs and historical pro forma disclosures

BT Group provides refreshed external KPIs and historical pro forma disclosures for FY22 and FY23, incorporating:

·      The formation of Business on 1 April 2023, from the combination of Enterprise and Global

·      Refined allocation of shared central costs between BT's Customer Facing Units (CFUs)

·      Refreshed financial and operational metrics for BT's CFUs

27 June 2023

Following the formation of Business, BT has refreshed its KPI disclosures to present this business on a pro forma basis. In light of this, and the formation of Digital and Networks, BT has also adjusted the methodologies used to allocate shared fixed costs across its CFUs to more closely align them to their actual consumption. Finally, BT has also refreshed its CFU financial and operational KPIs to better align them with the internal metrics used to manage each unit.

Refreshed KPIs, formation of BT Business, and adjustments to central cost allocations

1.     Business was formed from the combination of the former Enterprise and Global units and will commence reporting from Q1 FY24.

2.     BT has adjusted its methodologies used to allocate shared Network, Digital and support function costs across its CFUs, reported within operating costs and capex. The changes more closely align the recharges received by each CFU to their actual consumption. These changes impact CFU financials only and have no impact on the reported Group financials.

3.     BT has also refreshed the CFU financial and operational metrics used to explain company performance from FY24. This will improve visibility of the drivers of BT's performance, whilst simplifying and better aligning the company's external KPIs to the internal metrics used to manage the business.

These changes have no impact on BT's financial outlook which remains unchanged.

Pro forma financial and operational KPIs, reflecting 1, 2 and 3 above for FY22 and FY23 are available on our website. Historical pro forma KPIs are unaudited and provide an indicative history of BT's performance.

Accompanying documents

1.     Pro forma KPIs (Document A): BT's pro forma KPIs for FY22 and FY23, reflecting the formation of Business, the impact of adjustments to central cost allocations, and refreshed metrics for BT's CFUs

2.     Pro forma KPIs - Supporting information (Document B): A bridging document between BT's previously reported KPIs and BT's pro forma KPIs (Document A)

ENDS

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About BT Group

BT Group is the UK's leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services. We also provide managed telecommunications, security and network and IT infrastructure services to customers across 180 countries.

BT Group consists of three customer-facing units: Consumer serves individuals and families in the UK; Business* covers companies and public services in the UK and internationally; Openreach is an independently governed, wholly owned subsidiary wholesaling fixed access infrastructure services to its customers - over 650 communication providers across the UK.

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.

For more information, visit www.bt.com/about

*Business was formed on 1 January 2023 from the combination of the former Enterprise and Global units.  It commenced reporting as a single unit from 1 April 2023, with pro forma reporting information to be produced ahead of BT Group's Q1 FY24 results.

 

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