Charting our progress

Our investments are delivering for the business and we expect them to support our goal of sustainable, profitable revenue growth. Combined with a continued focus on cost transformation across the group, we aim to grow our EBITDA. This will drive long-term cash flow growth for the business. We will continue our prudent financial policy of investing in our business, reducing net debt, supporting the pension fund and paying progressive dividends.

 
  2012/13 2013/14 2014/15 2015/16 YoY
change
           
Revenue1 £18,339m £18,287m £17,851m £18,909m +6%
Underlying revenue2 excluding transit -3.1% +0.5% -0.4% +2%  
           
EBITDA1  £6,143m  £6,116m £6,271m £6,580m +5%
           
Profit before taxation1  £2,656m  £2,827m £3,172m £3,473m +9%
           
Earnings per share1  26.3p  28.2p 31.5p 33.2p +5%
           
Full year dividend 9.5p 10.9p 12.4p 14.0p +13%
           
Capital expenditure3 £2,438m £2,346m £2,326m £2,650m +14%
           
Normalised free cash flow4 £2,300m £2,450m £2,830m £3,098m +9%
           
Net debt £7,797m £7,857m £5,119m £9,845m +92%
           
Customer service improvement -4.0% +1.5% +4.7% -3%  
Our people 87,900 87,800 88,500 102,500  
BT retail broadband customers 6.7m 7.3m 7.7m 9.0m  
  • of which fibre
1.2m 2.1m 3.0m 4.1m  
Total Openreach broadband lines 17.6m 18.5m 19.3m 19.9m  
  • of which fibre
1.4m 2.7m 4.2m 5.9m  

Revenue Operating costs EBITDA 

Profit before taxation Earning per share Proposed Dividend

Capital expenditure Free cash flow Net debt 

For more information on our financial results go to the Shareholder & Analysts site.
For more information on our social and environmental performance go to the Purposeful business site.

EBITDA: Earnings before interest, taxation, depreciation and amortisation. 
1 Before specific items.
2 Excludes specific items, foreign exchange movements and the effect of acquisitions and disposals. 
3 before purchases of telecommunications licences.
4 before specific items, purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments.