BT 2014 Annual Report Download - page 195

192 Additional information
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 current and
future years’ outlook revenue and revenue trends EBITDA free cash
ow capital expenditure shareholder returns including progressive
dividends and share buyback net debt credit ratings our group-wide
restructuring programme, cost transformation and restructuring
costs investment in and rollout of our bre network, and its reach,
innovations, increased speeds and speed availability our broadband-
based service and strategy our investment in TV and enhancing our
BT Sport proposition the BT Pension Scheme recovery plan, operating
charge, regular cash contributions and interest expense eective tax
rate growth opportunities in networked IT services, the pay-TV services
market, broadband, and mobility and future voice enhancing our TV
service 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 plans for
the launch of new products and services network performance and
quality the impact of regulatory initiatives, decisions and outcomes on
operations, including the regulation of the UK xed 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 investment plans adequacy
of capital nancing plans and renancing 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 reected 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 dier materially from
those expressed or implied by these forward-looking statements. Factors
that could cause dierences 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, decisions, conditions or requirements in BT’s
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 benets 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,
sta or other costs or impact on customer service the timing of entry
and protability of BT in certain markets signicant changes in market
shares for BT or its principal products and services uctuations in foreign
currency exchange rates or interest rates the underlying assumptions
and estimates made in respect of major customer contracts proving
unreliable the aims of the group-wide restructuring programme not
being achieved and general nancial market conditions aecting BT’s
performance and ability to raise nance. Certain of these factors are
discussed in more detail elsewhere in this Annual Report including,
without limitation, in Our risks on pages50 to 55. BT undertakes no
obligation to update any forward-looking statements whether as a result
of new information, future events or otherwise.
Information for shareholders