European Investor
08 Feb 2026, 17:21
BT Group reported a solid trading update for the quarter and nine months to 31 December 2025, highlighting continued progress in network rollout, customer growth and cost transformation, while reaffirming full-year guidance.
BT said it passed more than one million premises with full-fibre broadband (FTTP) for the eighth consecutive quarter, taking its FTTP footprint to 21.4 million premises, including 5.9 million in rural areas. Openreach delivered record FTTP net adds of 571,000, lifting total connected premises to 8.2 million and pushing the take-up rate above 38%. The group remains on track to reach 25 million premises by December 2026.
Mobile performance remained strong, with EE retaining its position as the UK’s best network across multiple independent benchmarks. The 5G customer base rose 10% year-on-year to 14.3 million, while 5G+ coverage expanded to 69% of the population. Consumer divisions continued to add customers across broadband, postpaid mobile and TV, while customer satisfaction reached a record high.
Financially, Q3 reported and adjusted revenue fell 4% year-on-year to £5.0 billion, reflecting service revenue pressure, lower equipment sales and the impact of completed international disposals. Adjusted EBITDA declined 1% to £2.1 billion, with cost savings largely offsetting lower revenue. Profit before tax dropped to £183 million, mainly due to losses from the Sports joint venture.
BT confirmed it remains on track to meet its full-year outlook, including a cash flow inflection to around £2.0 billion next year and approximately £3.0 billion by the end of the decade, supported by ongoing transformation and network investment.
BT said it passed more than one million premises with full-fibre broadband (FTTP) for the eighth consecutive quarter, taking its FTTP footprint to 21.4 million premises, including 5.9 million in rural areas. Openreach delivered record FTTP net adds of 571,000, lifting total connected premises to 8.2 million and pushing the take-up rate above 38%. The group remains on track to reach 25 million premises by December 2026.
Mobile performance remained strong, with EE retaining its position as the UK’s best network across multiple independent benchmarks. The 5G customer base rose 10% year-on-year to 14.3 million, while 5G+ coverage expanded to 69% of the population. Consumer divisions continued to add customers across broadband, postpaid mobile and TV, while customer satisfaction reached a record high.
Financially, Q3 reported and adjusted revenue fell 4% year-on-year to £5.0 billion, reflecting service revenue pressure, lower equipment sales and the impact of completed international disposals. Adjusted EBITDA declined 1% to £2.1 billion, with cost savings largely offsetting lower revenue. Profit before tax dropped to £183 million, mainly due to losses from the Sports joint venture.
BT confirmed it remains on track to meet its full-year outlook, including a cash flow inflection to around £2.0 billion next year and approximately £3.0 billion by the end of the decade, supported by ongoing transformation and network investment.