BT Group’s H2 FY25 results reveal that Openreach continues to swell with 4.3m premises passed in the year and quarterly net adds above 500k for the first time, reflecting a take-up rate of 36%.
Openreach’s broadband ARPU in the year also grew by 6% to £16.0, driven by higher FTTP take-up, speed mix and CPI.
Doubling down, BT Group has announced that it will increase investment in Openreach and now expects to accelerate towards its target of reaching 25 million premises by December 2026, upping its build rate by 20% to up to five million premises passed during the year to March 2026.
Conversely, Openreach broadband lines fell 243k in Q4, driven by losses to competitors and a weaker broadband market.
The financial highlights show BT Group’s reported and adjusted revenue at £20.4bn, down 2%. The results cite continued challenging trading conditions in its Global and non-UK Portfolio channels and weaker handset trading in Consumer.
Its adjusted UK service revenue was £15.6bn, down 1%, largely due to legacy voice declines.
Adjusted EBITDA was £8.2bn, up 1%, driven by strong cost transformation, and reported profit before tax was £1.3bn, up 12%, primarily due to goodwill impairment in the prior year.
Allison Kirkby, Chief Executive, said “BT Group delivered strong progress against its strategic priorities in FY25. We set new record build and connect highs: our full fibre network now reaches more than 18m homes and businesses, with more than 6.5m already connected.
“We also accelerated the pace of simplification and transformation, agreeing asset sales, improving customer satisfaction across all of our brands and business segments, and delivering over £900m of annualised cost savings.”