BT 2009 Annual Report Download - page 150

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ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
148 BT GROUP PLC ANNUAL REPORT & FORM 20-F
ADDITIONAL INFORMATION
INFORMATION FOR SHAREHOLDERS
Cautionary statement regarding
forward-looking statements
Certain statements in this annual report are forward-looking and
are made in reliance on the safe harbour provisions of the US
Private Securities Litigation Reform Act of 1995. These
statements relate to analyses and other information which are
based on forecasts of future results and estimates of amounts not
yet determinable. These statements include, without limitation,
those concerning: revenue; EBITDA before specific items and
leaver costs; expected levels of free cash flow; expected levels of
net finance expense on pension obligations; dividends per share;
expected cost savings; expected reductions in capital expenditure
and operating costs; growth of, and opportunities available in,
the communications industry and BT’s positioning to take
advantage of those opportunities; expectations regarding
competition, market shares, prices and growth; expectations
regarding the convergence of technologies; growth opportunities
in networked IT services, broadband and mobility; BT’s network
development and 21CN; plans for the launch of new products and
services; network performance and quality; the impact of
regulatory initiatives on operations, including the regulation of
the UK fixed wholesale and retail businesses and the impact of the
Undertakings to Ofcom under the Enterprise Act; BT’s possible or
assumed future results of operations and/or those of its associates
and joint ventures; capital expenditure and investment plans
(including expected reductions in capital expenditure); adequacy
of capital; financing plans and refinancing requirements; demand
for and access to broadband and the promotion of broadband by
third-party service providers; and those preceded by, followed by,
or that include the words ‘aims’, ‘believes’, ‘expects’,
‘anticipates’, ‘intends’, ‘will’, ‘should’ or similar expressions.
Although BT believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no
assurance that these expectations will prove to have been correct.
Because these statements involve risks and uncertainties, actual
results may differ materially from those expressed or implied by
these forward-looking statements. Factors that could cause
differences between actual results and those implied by the
forward-looking statements include, but are not limited to:
material adverse changes in economic conditions in the markets
served by BT; future regulatory actions and conditions in its
operating areas, including competition from others; selection by
BT of the appropriate trading and marketing models for its
products and services; technological innovations, including the
cost of developing new products, networks and solutions and the
need to increase expenditures for improving the quality of service;
the anticipated benefits and advantages of new technologies,
products and services not being realised; developments in the
convergence of technologies; prolonged adverse weather
conditions resulting in a material increase in overtime, staff or
other costs; the timing of entry and profitability of BT in certain
communications markets; significant changes in market shares for
BT and its principal products and services; fluctuations in foreign
currency exchange rates and interest rates; the underlying
assumptions and estimates made in respect of major customer
contracts proving unreliable; the aims of BT Global Services’
revised operating model and restructuring plan not being
achieved; the results of the pension fund actuarial valuation; and
general financial market conditions affecting BT’s performance
and ability to raise finance. Certain of these factors are discussed
in more detail elsewhere in this annual report including, without
limitation, in Principal risks and uncertainties on pages 29 to 31.
BT undertakes no obligation to update any forward-looking
statements whether as a result of new information, future events
or otherwise.
ADDITIONAL INFORMATION