BT Group PLC – Quarter 4 Results saw FTTP Broadband surge of 7.2 million homes

BT Group plc (BT.L) published their results for the full year to 31 March 2022 in which coverage of Openreach’s Gigabit Fibre-to-the-Premises (FTTP) broadband ISP network grew by a record 752,000 homes in the quarter to a total of 7.2 million.

BT Group has delivered another strong operational performance. Openreach continues to build, having now passed 7.2 million buildings with 1.8 million connections; a strong and growing early booking rate of 25%.

The operator also signed an FTTP co-provisioning deal with Sky Broadband following a recent decision to roll out digital voice (telephone) services due to concerns about service outages and the move to make EE their flagship consumer brand. Openreach signed a MoU on a framework with Sky on FTTP co-provisioning; Sky engineers to complete the majority of their FTTP in-premises provisioning activities on Openreach’s FTTP network

BT Group FTTP base showed a continued growth in Q4

over 59% of FTTP orders in Q4 were for ultrafast speeds
56% of all FTTP orders in Q4 were from communication providers external to the BT Group

Unfortunately, the consumer arm of BT (EE) does not release full subscriber numbers for its own retail broadband ISP, other than for its ultra-fast services. BT Consumer reported that they had 1.165 million FTTP customers (up from 1.053 million last quarter) and EE’s 5G-ready base now stands at 7.228 million (up from 6.418 million).

Around 80.2% of BT’s fixed line customers now use a super-fast broadband product (down slightly from 81.1% last quarter), which has risen to 10.1% (from 8.6%) for its ultra-fast (100Mbps+) broadband products falls, which include both G.fast and FTTP. We also found that 21.7% of BTs customers are now using both cellular and broadband (converged), up slightly from 21.5%.

According to BT Group Q4 revenue growth, growing FTTP and 5G bases, award-winning mobile network, low churn, index linked contracts, strong brand NPS and continued there converged growth, provide them with strong foundations heading into FY23.

BT group has finalised the sports joint venture with Warner Bros. Discovery to improve its content to align business with a new global content powerhouse.

BT group plans to extend the cost savings target of £2bn by end FY24 to £2.5bn by end FY25. BT group delivered EBITDA growth of 2% this year as strong savings from the modernisation programme more than offset weaker revenues from enterprise businesses due to well-known market challenges.

BT’s initial estimates on the subject of copper recovery suggest that around 200,000 tonnes of copper could be recovered from their network by the 2030s.

BT Group PLC – Quarter 4 Results saw FTTP Broadband surge of 7.2 million homes

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