By Adria Calatayud


BT Group PLC reported results for the fourth quarter and fiscal 2021 as a whole on Thursday. Here's what you need to know:


ADJUSTED REVENUE: The U.K. telecommunications group said adjusted revenue for the quarter to March 31 was 5.29 billion pounds ($7.43 billion), matching analysts' expectations. This compared with revenue of GBP5.63 billion for the same period last year.


ADJUSTED EBITDA: BT said adjusted earnings before interest, taxes, depreciation and amortization --the company's preferred metric, which strips out exceptional and other one-off items--for the quarter were GBP1.81 billion, down 10% on year and slightly below consensus expectations of GBP1.83 billion, according to a consensus provided by the company.




-FIBER INVESTMENT: BT said it plans to expand its fiber-broadband network to 25 million homes and businesses by December 2026, up from its previous target of 20 million premises by the mid-to-late 2020s. However, the company said investments in its fiber rollout will weigh on cash flow over the next few years.

BT forecasts capital expenditure at GBP4.9 billion in fiscal 2022, higher than consensus expectations of GBP4.39 billion. The company expects normalized free cash flow to be between GBP1.1 billion and GBP1.3 billion, below consensus expectations of GBP1.43 billion.


-DIVIDEND: The company didn't declare a dividend for fiscal 2021, as previously indicated, but said payments are expected to resume in fiscal 2022 at an annual rate of 7.7 pence a share.


-BT SPORT: BT Chief Executive Philip Jansen said the company is having constructive discussions with potential partners in relation to BT Sport, but cautioned that a deal might not be reached.


Write to Adria Calatayud at


(END) Dow Jones Newswires

May 13, 2021 08:50 ET (12:50 GMT)

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