BT Group's revenue down 2% but EBITDA up by 1%, with fiber buildout targets raised

From Morningstar: 2025-05-23 03:53:00

BT Group reported full-year revenue of GBP 20.4 billion and adjusted EBITDA of GBP 8.2 billion, down 2% and up 1% respectively. The company raised fiber buildout targets by 20% for 2026 to defend market share in broadband. Openreach saw 39% growth in FTTP lines, totaling 6.5 million.

Despite revenue contraction, BT Group increased EBITDA in 2025 through cost-cutting measures. Lower international and handset sales impacted the top line. Morningstar maintains a fair value estimate of GBX 190 for BT, viewing the shares as slightly undervalued. Openreach lost 243,000 broadband lines in the fourth quarter.



Read more at Morningstar: BT Earnings: Cost-Cutting Proving Effective,…