LONDON (dpa-AFX) - Telecom major BT Group plc (BT_A.L) reported first-quarter profit before tax of 520 million pounds, down 3%, as decreased revenue was broadly offset by reductions in reported operating costs.
Adjusted EBITDA was 2.1 billion pounds, up 1% with transformation and tight cost control, including lower staff costs, partly offset by revenue decline.
Adjusted revenue was 5.1 billion pounds, down 2% on the first-quarter of fiscal year 2024 due to legacy managed contract declines, reduced low margin sales activity and contraction in the portfolio unit within Business, and the continued shift to mobile SIM only and a lower CPI benefit in a competitive market in Consumer. This is partly offset by price increases and FTTP and Ethernet base growth in Openreach. Reported revenue was 5.0 billion pounds, down 2% from the previous year.
The company said it remains on track to deliver its financial outlook for this year and its cash flow inflection to about 2.0 billion pounds in 2027 and about 3.0 billion pounds by the end of the decade.
The company reconfirmed all fiscal year 2025 outlook.
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