BT 2014 Annual Report Download - page 138

135
Financial statements
Financial statements
4. Segment information
The denition of the group’s operating and reportable segments is provided on page 130.
Eective from 1 April 2013 we simplied our internal trading and more closely aligned our line of business nancial results with our regulatory
accounts. This was in addition to the restatements disclosed in note 1 for the adoption of IAS 19 (Revised 2011) and presentational changes relating
to other operating income. The comparatives for 2012/13 and 2011/12 have been restated to reect these changes and ensure prior year results
are presented on a consistent basis. The impact on line of business results in 2012/13 was to increase revenue, EBITDA and operating prot in BT
Global Services by £4m, £206m and £204m (2011/12 £3m, £208m and £219m), to increase revenue and EBITDA but decrease operating prot
in BT Retail by £71m, £90m and £17m (2011/12 £79m, £107m and increase £13m), to reduce revenue, EBITDA and operating prot in BT
Wholesale by £980m, £548m and £209m (2011/12 £980m, £541m and £196m), to increase revenue and EBITDA but reduce operating prot
in BT Openreach by £48m, £328m and £128m (2011/12 £51m, £319m and £158m) and to increase revenue, reduce EBITDA and increase
operating prot in Other by £36m, £114m and £112m (2011/12 £10m, £123m and £92m). Intra group revenues were decreased by £907m
in 2012/13 (2011/12 £927m). The impact on total group results is shown in note 1.
Also, as explained on page 127, BT Retail was subsequently split into two reportable segments, BT Business and BT Consumer.
Information regarding the results of each reportable segment is provided below.
Segment revenue and prot
Year ended 31 March 2014
BT Global
Services
£m
BT Business
£m
BT Consumer
£m
BT Wholesale
£m
Openreach
£m
Other
£m
Total
£m
Segment revenue 7,041 3,509 4,019 2,422 5,061 147 22,199
Internal revenue –(579) (49) –(3,239) (45) (3,912)
Revenue from external customers 7,041 2,930 3,970 2,422 1,822 102 18,287
EBITDAa932 1,098 833 614 2,601 38 6,116
Depreciation and amortisation (606) (206) (219) (245) (1,406) (13) (2,695)
Operating proƬtb326 892 614 369 1,195 25 3,421
Specic items (note 8) (276)
Operating proƬt 3,145
Net nance expensec (826)
Share of post tax loss of associates and
joint ventures (3)
Loss on disposal of interest in associates
and joint ventures (4)
ProƬt before tax 2,312
Year ended 31 March 2013 (Restatedd)
BT Global
Services
£m
BT Business
£m
BT Consumer
£m
BT Wholesale
£m
Openreach
£m
Other
£m
Total
£m
Segment revenue 7,170 3,516 3,846 2,608 5,115 101 22,356
Internal revenue –(579) (44) –(3,368) (26) (4,017)
Revenue from external customersb7,170 2,937 3,802 2,608 1,747 75 18,339
EBITDAa832 1,047 968 620 2,642 34 6,143
Depreciation and amortisation (625) (245) (248) (254) (1,428) (43) (2,843)
Operating proƬt (loss)) b207 802 720 366 1,214 (9) 3,300
Specic items (note 8) (352)
Operating proƬt 2,948
Net nance expensec (772)
Share of post tax prot of associates and
joint ventures 9
Prot on disposal of interest in associate 130
ProƬt before tax 2,315
a EBITDA is stated before speciƬc items and is a non-GAAP measure provided in addition to the disclosure reTuirements deƬned under IFRS. The rationale for using non-GAAP measures is
explained on pages{184 to 186.
b Before speciƬc items.
c Net Ƭnance expense includes speciƬc item expense of £235m 201213: £119m, 201112: £98m). See note 8.
d Restated, see note 1.