bta201606296k.htm
 
 
SECURITIES AND EXCHANGE COMMISSION
 
 
Washington, D.C. 20549
 
 
FORM 6-K
 
 
Report of Foreign Private Issuer
 
 
Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 
 
Date of Announcement: 29 June 2016
 
 
BT Group plc
 
 
(Translation of registrant's name into English)


 
 
BT Group plc

81 Newgate Street

London

EC1A 7AJ

England
 
 
(Address of principal executive offices)

 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.


 
 
Form 20-F..X...             Form 40-F.....

 

 
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


 
 
Yes .....           No ..X..



 
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________



           
29 June 2016
 
BT PROVIDES REVISED FINANCIAL INFORMATION
REFLECTING ORGANISATIONAL CHANGES
 
BT Group has today published revised financial information to reflect organisational changes that came into effect on 1 April 2016.
 
Previously, our six customer-facing lines of business were BT Global Services, BT Business, BT Consumer, EE, BT Wholesale and Openreach (EE Limited1 having been acquired by the group on 29 January 2016).  As announced on 1 February 2016, with effect from 1 April 2016, we've reorganised the group and our customer-facing lines of business are now: Global Services, Business and Public Sector, Consumer, EE, Wholesale and Ventures, and Openreach.
 
We've brought together EE's business division and parts of BT Global Services' UK corporate and public sector operations with BT Business, to form Business and Public Sector.  This move allows Global Services to sharpen its focus on serving multinational companies and major customers outside the UK.  And Business and Public Sector is better able to align its resources to improve customer service and delivery, adopting a more regional and forensic approach to serving the UK public sector.  
 
Alongside these changes, EE's MVNO operations and a number of specialist ventures within the group (including Fleet, Redcare, Directories, Payphones, Tikit and Cables) have moved into Wholesale and Ventures.  This gives more visibility to the smaller but important enterprises while bringing together the group's wholesale businesses.  In addition, EE's technology team is now the mobile technology unit of our internal service unit, Technology, Service and Operations.
 
At the same time, we've taken steps to simplify our internal trading model, including moving to a cost-recovery model for certain intra-group revenues.  Neither the organisational or internal trading changes have any impact on the total group results.
 
We show the financial impact and restated financial information, prepared on a consistent basis, for the years ended 31 March 2016 and 31 March 2015 in Appendix 1.  We'll present our financial results and updated KPI document for the first quarter to 30 June 2016 (which we expect to announce on Thursday 28 July 2016) on this revised basis. 
 
On our website (www.btplc.com) we'll also provide pro forma historical financial information by line of business under the new organisational structure, prepared as though EE had been part of the group from 1 April 2014. The pro forma historical financial information shows EE's historical results adjusted to reflect BT's accounting policies.  In the consolidated group total, we've eliminated historical transactions between BT and EE as though they had been intercompany transactions.  We have not made any adjustments to reflect the allocation of the purchase price for EE.  All deal and acquisition-related costs have been treated as specific items and therefore don't impact the pro forma.
 
1
EE Limited is a wholly-owned subsidiary of BT plc
 
Enquiries
 
Press office:
Ross Cook                                                       Tel: 020 7356 5369
Investor relations:
Carl Murdock-Smith                                        Tel: 020 7356 4909
 
About BT
 
BT's purpose is to use the power of communications to make a better world. It is one of the world's leading providers of communications services and solutions, serving customers in 180 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband, TV and internet products and services; and converged fixed-mobile products and services.  BT consists of six customer-facing lines of business:  Global Services, Business and Public Sector, Consumer, EE, Wholesale and Ventures, and Openreach.
 
For the year ended 31 March 2016, BT Group's reported revenue was £19,042m with reported profit before taxation of £3,029m.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
 
Appendix 1 - impact of restatements for the year ended 31 March 20161,2
£m
As previously reported - 2015/16
Adjustments
Restated - 2015/16
 
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Global Services
                              
Revenue
1,543
1,559
1,675
1,753
6,530
(347)
(347)
(368)
(365)
(1,427)
1,196
1,212
1,307
1,388
5,103
EBITDA
190
216
276
366
1,048
(97)
(103)
(114)
(133)
(447)
93
113
162
233
601
Capital expenditure3
86
107
103
119
415
(5)
(10)
(7)
(10)
(32)
81
97
96
109
383
Business and Public Sector
                              
Revenue
749
781
779
821
3,130
241
245
256
422
1,164
990
1,026
1,035
1,243
4,294
EBITDA
240
261
268
307
1,076
57
60
73
148
338
297
321
341
455
1,414
Capital expenditure3
35
37
35
31
138
(5)
1
3
16
15
30
38
38
47
153
Consumer
                              
Revenue
1,074
1,127
1,205
1,192
4,598
2
2
3
3
10
1,076
1,129
1,208
1,195
4,608
EBITDA
254
202
270
311
1,037
4
3
4
7
18
258
205
274
318
1,055
Capital expenditure3
52
56
46
52
206
-
-
-
1
1
52
56
46
53
207
EE
                              
Revenue
-
-
-
1,055
1,055
-
-
-
(214)
(214)
-
-
-
841
841
EBITDA
-
-
-
261
261
-
-
-
(88)
(88)
-
-
-
173
173
Capital expenditure3
-
-
-
111
111
-
-
-
(15)
(15)
-
-
-
96
96
Wholesale and Ventures
                              
Revenue
530
520
527
509
2,086
48
55
51
34
188
578
575
578
543
2,274
EBITDA
140
127
135
140
542
45
48
47
73
213
185
175
182
213
755
Capital expenditure3
44
46
41
46
177
12
7
4
9
32
56
53
45
55
209
Openreach
                              
Revenue
1,249
1,267
1,294
1,290
5,100
-
-
-
-
-
1,249
1,267
1,294
1,290
5,100
EBITDA
639
648
677
700
2,664
(1)
(2)
-
(2)
(5)
638
646
677
698
2,659
Capital expenditure3
402
348
321
376
1,447
-
-
-
-
-
402
348
321
376
1,447
Other
                              
Revenue
16
19
21
17
73
(13)
(19)
(17)
(13)
(62)
3
-
4
4
11
EBITDA
(14)
(12)
(13)
(9)
(48)
(8)
(6)
(10)
(5)
(29)
(22)
(18)
(23)
(14)
(77)
Capital expenditure3
39
35
41
41
156
(2)
2
-
(1)
(1)
37
37
41
40
155
Intra-group items
                              
Revenue
(883)
(892)
(907)
(981)
(3,663)
69
64
75
133
341
(814)
(828)
(832)
(848)
(3,322)
TOTAL
                              
Revenue
4,278
4,381
4,594
5,656
18,909
-
-
-
-
-
4,278
4,381
4,594
5,656
18,909
EBITDA
1,449
1,442
1,613
2,076
6,580
-
-
-
-
-
1,449
1,442
1,613
2,076
6,580
Capital expenditure3
658
629
587
776
2,650
-
-
-
-
-
658
629
587
776
2,650
 
1Before specific items
2EE reflects results for the period from acquisition on 29 January to 31 March 2016
3Before purchases of telecommunications licences
 
 
Appendix 1 - impact of restatements for the year ended 31 March 20151,2
£m
As previously reported - 2014/15
Adjustments
Restated - 2014/15
 
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Q1
Q2
Q3
Q4
FY
Global Services
                              
Revenue
1,647
1,649
1,694
1,789
6,779
(394)
(376)
(369)
(411)
(1,550)
1,253
1,273
1,325
1,378
5,229
EBITDA
213
226
261
347
1,047
(135)
(116)
(118)
(135)
(504)
78
110
143
212
543
Capital expenditure3
106
116
121
125
468
(9)
(18)
(15)
(12)
(54)
97
98
106
113
414
Business and Public Sector
                              
Revenue
762
789
789
805
3,145
291
260
258
293
1,102
1,053
1,049
1,047
1,098
4,247
EBITDA
240
258
266
277
1,041
103
73
76
87
339
343
331
342
364
1,380
Capital expenditure3
24
32
42
89
187
6
13
(1)
(45)
(27)
30
45
41
44
160
Consumer
                              
Revenue
1,046
1,056
1,083
1,100
4,285
2
1
3
2
8
1,048
1,057
1,086
1,102
4,293
EBITDA
238
225
251
317
1,031
3
3
4
3
13
241
228
255
320
1,044
Capital expenditure3
39
52
47
69
207
-
-
-
-
-
39
52
47
69
207
EE
                              
Revenue
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
EBITDA
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Capital expenditure3
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Wholesale and Ventures
                              
Revenue
525
529
532
571
2,157
48
50
50
56
204
573
579
582
627
2,361
EBITDA
126
125
136
174
561
35
47
50
53
185
161
172
186
227
746
Capital expenditure3
53
53
49
55
210
3
5
18
58
84
56
58
67
113
294
Openreach
                              
Revenue
1,245
1,245
1,255
1,266
5,011
-
-
-
-
-
1,245
1,245
1,255
1,266
5,011
EBITDA
624
627
651
698
2,600
-
(2)
-
(1)
(3)
624
625
651
697
2,597
Capital expenditure3
258
246
300
278
1,082
-
-
-
-
-
258
246
300
278
1,082
Other
                              
Revenue
19
16
20
18
73
(14)
(13)
(15)
(16)
(58)
5
3
5
2
15
EBITDA
(6)
(11)
2
6
(9)
(6)
(5)
(12)
(7)
(30)
(12)
(16)
(10)
(1)
(39)
Capital expenditure3
36
34
40
62
172
-
-
(2)
(1)
(3)
36
34
38
61
169
Intra-group items
                              
Revenue
(890)
(901)
(898)
(910)
(3,599)
67
78
73
76
294
(823)
(823)
(825)
(834)
(3,305)
TOTAL
                            
-
Revenue
4,354
4,383
4,475
4,639
17,851
-
-
-
-
-
4,354
4,383
4,475
4,639
17,851
EBITDA
1,435
1,450
1,567
1,819
6,271
-
-
-
-
-
1,435
1,450
1,567
1,819
6,271
Capital expenditure3
516
533
599
678
2,326
-
-
-
-
-
516
533
599
678
2,326
 
1Before specific items
2EE reflects results for the period from acquisition on 29 January to 31 March 2016
3Before purchases of telecommunications licences
 
 
 
 
Signatures
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



 
 
BT Group plc
(Registrant)

 
By: /s/ Dan Fitz, Company Secretary
--------------------



 
Dan Fitz, Company Secretary.

 
Date 29 June 2016