BT 2015 Annual Report Download - page 84

82 BT Group plc
Annual Report 2015
Income statement
Summarised income statement
ear ended 1 arch 2015 01 01
efore specific ites   
Revenue 17,851 18,287 18,339
Operating costsa110 111 119
EBITDA 6,271 6,116 6,143
Depreciation and amortisation  9 
2SHUDWLQJSURƬW 3,733 3,421 3,300
et finance epense 0 91 
ssociates and oint ventures 1  9
3URƬWEHIRUHWD[DWLRQ 3,172 2,827 2,656
aation 1 1 9
3URƬWIRUWKH\HDU 2,541 2,214 2,059
a([FOXGLQJGHSUHFLDWLRQDQGDPRUWLVDWLRQ
Revenue
ur e revenue easure underlin revenue ecludin transit
wasdown 0. which is in line with our outloo for the ear of
beinbroadl at.
eported revenue which includes specific ites was down .
dusted revenue was also down  at 11.
Underlin revenue ecludin transit was down 0. copared with a
0. increase in the prior ear. e had a 1 neative ipact fro
forein echane oveents a 119 reduction in transit revenue
and an  neative ipact fro disposals.
rowth in  onsuer was oset b declines in our other lines of
business.  onsuer revenue was up  with stron rowth in
the broadband and  custoer bases. e are ver pleased with
the perforance of  port which has contributed to both top and
botto-line rowth. penreach revenue was down 1 driven b
reulator price chanes which were partl oset b the benefit of
fibre broadband rowth.  usiness underlin revenue ecludin
transit declined arinall with lower call and line volues reectin
the iration of custoers to broadband and  services.  holesale
underlin revenue ecludin transit was down . he ipact of
reulator price chanes and a lare contract terination were partl
oset b the reconition of ladder pricin revenue. n  lobal ervices
UK public sector revenue was lower with this partl oset b our
hih-rowth reions.
ou can see a full breadown of reported revenue b aor product and
service cateor in note  to the consolidated financial stateents.
EBITDA
dusted  increased  to 1 011 at at the
upper end of our outloo of .bn.bn.
his shows how our cost transforation activities are benefitin our
botto line. e have reduced costs and have still been able to invest
while increasin our profitabilit.
hrouh the roup-wide restructurin prorae that we copleted
this ear we have ade investents to reduce costs in the loner ter.
he increental costs associated with this restructurin have been
treated as specific ites.
e have disclosed adusted  for each of our custoer-facin
lines of business in note  to the consolidated financial stateents.
Operating costs
e reduced operatin costs before depreciation and aortisation b .
ur total operatin costs before depreciation and aortisation were
down 91 011 at at 110. ur abilit to reduce
costs while investin reects our focus on cost control. Underlin
operatin costs before depreciation and aortisation and ecludin
transit decreased . n areate we have reduced operatin costs
and capital ependiture b around .bn over the last si ears despite
sinificant investent across the business.
Net labour costs
Other
Programme
rights charges
2014
FX, acquisitions
and disposals
Transit & POLOs
2015
£m
11,000
11,750
12,500
2SHUDWLQJFRVWVEHIRUHGHSUHFLDWLRQDPRUWLVDWLRQDQGVSHFLƬFLWHPV
Year ended 31 March
11,580
12,171
241
201
307
127
31