BT Group reported strong network momentum for the fiscal year ending 31 March 2025, despite a slight revenue decline. The company set new records for its fibre-to-the-premises (FTTP) rollout, reaching 18.1 million UK locations, up by 4.3 million in the year. Buoyed by demand, BT increased its FTTP build target for FY26 by 20% to 5 million premises, maintaining its path to a 25 million target by December 2026. The company also surpassed 6.5 million fibre connections, lifting the Openreach take-up rate to 36%.
Openreach led the growth with adjusted EBITDA up 5% year-on-year and free cash flow surging 42%, driven by improved fault rates, lower energy usage, and continued cost transformation. FTTP builds reached a record pace of 84,000 per week, and over 4.9 million rural premises are now covered. Meanwhile, EE retained its lead as the UK’s top-rated mobile network, with BT’s standalone 5G now covering 50 major towns and cities and 85% of the population.
Across the group, adjusted EBITDA rose 1% to £8.2 billion, supported by £913 million in annualised cost savings. Capital expenditure held steady at £4.9 billion. Normalised free cash flow increased 25% to £1.6 billion, keeping BT on track for its FY27 goal of £2 billion and £3 billion by the decade’s end. While total broadband lines declined 243,000 in Q4, BT saw a Q4 return to growth in the retail broadband base, and FTTP connections for Consumer rose 32% year-over-year.
- FTTP footprint reached 18.1 million premises; 6.5 million connected (36% take-up)
- FY26 fibre build target raised to 5 million; on track for 25 million by end-2026
- EE maintained top ranking for mobile network performance and 5G availability
- Consumer broadband ARPU rose 2.4% to £42.2; mobile ARPU stable at £19.4
- 5G base grew to 13.2 million connections, up 15% YoY
- Group normalised free cash flow up 25% to £1.6 billion
- Net debt increased slightly to £19.8 billion, primarily due to pension contributions
- Divestments completed or underway in Ireland and Italy as BT refocuses on the UK
“Allison Kirkby, CEO, stated: ‘The momentum in, and impact of, our full fibre programme is such that we are now raising our build target by 20% for FY26… I am confident that as we build and connect at pace, our transformation will accelerate and deliver a better BT for all of us—our customers, our colleagues, the country and our owners.’”