BT Group plc (BTA) Earnings Call Transcripts

BT Group plc's Latest Earnings Call - Q4 FY2026

In the full year results for BT Group plc ending March 31, 2026, the company reported adjusted revenue of £19.6 billion, a 4% decline year-over-year, primarily due to lower equipment sales and international revenue pressures. Adjusted EBITDA was £8.23 billion, with a slight growth of 1% excluding divestments. Management maintained guidance for fiscal year 2027, expecting total revenue between £19 billion and £19.5 billion and adjusted EBITDA growth to £8.2 billion to £8.3 billion, while reaffirming the target of £2 billion in normalized free cash flow. The dividend was increased by 2% to 8.32p per share, reflecting confidence in future performance.

Reported metrics

Guidance from management

Management expects total revenue for FY '27 to be between £19 billion and £19.5 billion, with U.K. service revenue projected to be flat to slightly down. Adjusted EBITDA is anticipated to grow to between £8.2 billion and £8.3 billion.

What management said

Good morning, and welcome, everyone, to BT Group's results presentation for the full year ended 31st of March 2026. Presenting today are Allison Kirkby, BT Group's Chief Executive; and Simon Lowth, BT Group CFO. [Operator Instructions] I would like to make everyone aware that this event is being recorded for replay purposes. And before we start, I'd like to draw your attention to the forward-looking statements caut...

There may be questions online as well. So if you are listening online and would like to ask a question, put your hand up. We'll start in the room. And let's start on the left-hand side, and we'll move to the right. So David, thank you. If you could introduce yourselves with name and company, thank you.

What analysts pressed on

Analysts expressed concerns regarding the sustainability of revenue growth, particularly in the Consumer and Business segments, given the ongoing pressures from the PSTN shutdown and competitive market dynamics. There were also questions about the potential for dividend increases in the future as cash flow improves.

Main topics on the call

• Revenue Decline — BT Group reported adjusted revenue of £19.6 billion, down 4% year-over-year, attributed to lower equipment sales and international revenue declines. Management noted, 'U.K. service revenue was down 1% with growth in Open...
• EBITDA Growth — Adjusted EBITDA grew to £8.23 billion, reflecting a 1% increase when excluding the impact of divestments. Simon Lowth stated, 'Adjusted EBITDA for the year was £8.23 billion. And excluding the 5 divestments we made durin...
• Free Cash Flow Guidance — Management reaffirmed the target for normalized free cash flow of £2 billion for fiscal year 2027, consistent with prior guidance. They emphasized, 'We will double normalized free cash flow from £1.5 billion in FY '26 to...
• Dividend Increase — The total dividend was increased to 8.32p per share, a 2% growth, signaling confidence in future cash generation. Allison Kirkby remarked, 'reflecting that performance and our confidence in the future, we're increasing t...

Read the full BT Group plc transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 BT Group plc earnings call transcripts on record, spanning January 30, 2020 to May 21, 2026. Based on this history, BT Group plc reports quarterly. The most recent call on file is dated May 21, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

BTA

Exchange

LSE

Country

GB

Sector

Communication Services

Industry

Diversified Telecommunication Services

Calls on record

30

First call

January 30, 2020

Most recent

May 21, 2026

Reporting cadence

quarterly