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BT Q1 2018/19 results: On target in the short term, making progress for the long term - Venture Insights

Report Overview

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BT Q1 2018/19 results: On target in the short term, making progress for the long term

PublisherEnders Analysis.
Publish Date August 7, 2018
Sector Fixed Line (Internet and Voice), Media, Mobile, Telecom.
Company BT, EE.

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BT’s Q1 results were fairly robust given a number of one-offs hitting in the quarter, with revenue growth of -2% in line with full year guidance, EBITDA growth of 1% ahead of plan, and a number of metrics looking promising

Openreach’s newly announced volume discount plans offer advantages in growing high and higher speed volumes, infrastructure competitiveness and regulatory pricing pressure, while giving up little in external revenue, a win-win-win for BT at least

Full-fibre regulation appears to be slowly moving towards more clarity, but is still far too unclear to justify an accelerated investment, with critical issues being ducked (for now) by government and Ofcom alike