Record fibre connections but BT posts mixed 2026 financial year | Computer Weekly

BT reported fiscal year 2026 revenues of £19.7bn, down 3%, and adjusted revenue of £19.6bn, down 4%, driven by lower international revenue from divestments, declines in handset trading, and declines in adjusted UK service revenue. Adjusted UK service revenue fell 1% to £15.4bn, mainly due to lower voice volumes, partially offset by CPI-linked price increases and an improved broadband FTTP mix in Openreach. Lower revenue was offset by strong cost transformation and cost control, keeping adjusted EBITDA at £8.2bn flat year-on-year, with like-for-like adjusted EBITDA up 1%. Profit before tax rose 8% to £1.4bn, supported by lower specific items and lower depreciation and amortisation. BT delivered £580m gross annualised cost savings and reduced energy usage, labour resources, and Openreach repair volumes, while raising transformation targets and extending the programme to 2030.

"For the full financial year to 31 March 2026, BT reported revenues of £19.7bn, down by 3% compared with the previous financial year, with adjustedrevenue of £19.6bn, slipping by 4%. These figures were driven by lower international revenue, including divestments, declines in handset trading and declines in adjusted UK service revenue."

"Adjusted UK service revenuewas £15.4bn, down by 1% compared with fiscal 2025, mainly driven by lower voice volumes, offset by Consumer Price Index-linked price increases and an improved broadband fibre-to-the-premises (FTTP) mix in its Openreach broadband provision division."

"The lower revenue was offset by strong cost transformation and cost control, according to BT, leading to adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of £8.2bn, flat year-on-year, excluding divestments. Like-for-like adjusted EBITDA was up by 1%. Reported profit before tax was £1.4bn, up 8%, with the increase said to be primarily driven by lower specific items, lower depreciation and amortisation, offset by a higher finance expense."

"During the course of the year, and as part of its long-standing transformation plan, BT realised £580m in gross annualised cost savings, at a cost to achieve of £336m, taking total savings over two years to £1.5bn at costs of £800m. It said that it also realised year-on-year reductions in energy usage in its networks of 6%, in total labour resource of 7% to 108,000 and in Openreach repair volumes of 18%."

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