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£22.9Bn (3)% £2.4Bn £7.9Bn £6.3Bn £2.0Bn 17.5P £4.0Bn BT Group plc Annual Report 2020 BT Group plc Annual Report 2020 Strategic report 6 7 About BT Who we are Financial highlights Our customer-facing units We’re one of the world’s leading communications Revenue Consumer Enterprise Global Our three brands – BT, EE We are the leading business We are a leading business services companies. We’re £22.9bn and Plusnet – connect UK communications provider in connectivity, communications based in the UK but we serve (2)% consumers to information, the UK. We connect more and IT services provider to major customers in around 180 entertainment, friends and than 1m business customers multinational corporations countries. Change in family, at home and on the and public sector organisations in around 180 countries. We adjusteda revenue move. Between them, they with our extensive portfolio own an extensive global voice provide the whole of the UK of communications and IT and data network providing What we do (3)% with mobile, broadband, home solutions. We also provide managed services, security and We develop and sell phone and TV services. network products and services network and IT infrastructure communications propositions Profit before tax to communications providers services, enabling customers’ We buy access to fixed-line operating in the UK and Republic digital transformations. and services, and build and £2.4bn and broadband infrastructure of Ireland. operate the networks that are (12)% from Openreach, and we use We partner in countries essential to modern lives, EE’s mobile network to provide We focus on four main product worldwide for access to voice mobile phone services. markets: fixed voice, mobile, and data infrastructure and we businesses and communities. Adjustedb EBITDA fixed connectivity and IT services. buy enterprise technologies and Led by We provide managed services equipment for our customers £7.9bn Marc Allera How we’re organised 7% CEO, Consumer for large networking and security from the world’s leading We operate as a single business, contracts. Openreach provides technology providers. us access to fixed-line and made up of organisational Cash flow from Openreach broadband infrastructure, and Led by units. There are customer-facing operating activities We build, and sell access to, Bas Burger the network that connects the we deliver mobile phone services CEO, Global units that sell propositions and £6.3bn UK’s homes and businesses. over EE’s mobile network. We provide wholesale ‘last services and corporate units 47% Led by that support the whole group. mile’ fixed access from Gerry McQuade homes and businesses to Normalised free CEO, Enterprise exchanges, and we install and cash flowc maintain the fibre and copper £2.0bn communications networks. (18)% Led by Clive Selley Basic earnings CEO, Openreach per share 17.5p Our corporate units (20)% Strategy and Technology Corporate functions Transformation We design, build and operate The remaining corporate units Capital expenditure We develop and set corporate, BT’s networks, platforms and IT carry out central activities on network and product strategies systems. We also work with the behalf of the group. We benefit £4.0bn for the group. We also drive customer-facing units to develop from shared expertise and flat pan-BT transformation and roll out products and economies of scale. a Items presented as adjusted are stated before specific items. See page 204 programmes. services for their customers. for more information. These include: Finance, Legal & b Adjusted (being before specific items, share of post tax profits/losses of Led by associates and joint ventures and net non-interest related finance expense), Led by Company Secretarial, Corporate Affairs, as explained in the Additional information on page 204. Michael Sherman Howard Watson Regulatory Affairs, HR, Risk, Compliance c Free cash flow after net interest paid and payment of lease liabilities, before Chief strategy and transformation Chief technology and information officer pension deficit payments (including the cash tax benefit of pension deficit & Assurance, Property & Facilities, payments) and specific items as explained in the Additional information on officer Procurement and Group Business page 206. Services (which provides shared services across the company)..
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