BT 2011 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2011 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 189

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189

106
1. Segment information continued
Segment revenue and profit
BT Global
Services BT Retail BT Wholesale Openreach Other Total
Year ended 31 March 2011 £m £m £m £m £m £m
Segment revenue 8,047 7,748 4,210 4,930 38 24,973
Internal revenue – (446) (980) (3,471) – (4,897)
Revenue from external customersa8,047 7,302 3,230 1,459 38 20,076
EBITDAb593 1,784 1,316 2,132 61 5,886
Depreciation and amortisation (734) (443) (619) (877) (306) (2,979)
Operating profit (loss)a(141) 1,341 697 1,255 (245) 2,907
Specific items (note 8) (329)
Operating profit (loss) 2,578
Net finance expensed(924)
Share of post tax profit of associates and joint ventures 21
Profit on disposal of interest in associate 42
Profit before tax 1,717
BT Global
Services BT RetaileBT WholesaleeOpenreacheOther Total
Year ended 31 March 2010 £m £m £m £m £m £m
Segment revenue 8,513 8,124 4,592 5,164 40 26,433
Internal revenue – (373) (1,226) (3,923) – (5,522)
Revenue from external customersa8,513 7,751 3,366 1,241 40 20,911
EBITDAb457 1,777 1,353 1,960 92 5,639
Depreciation and amortisation (815) (459) (680) (856) (229) (3,039)
Operating profit (loss)a(358) 1,318 673 1,104 (137) 2,600
Specific items (note 8) (477)
Operating profit (loss) 2,123
Net finance expensed(1,158)
Share of post tax profit of associates and joint ventures 54
Loss on disposal of interest in associate (12)
Profit before tax 1,007
BT Global
Services BT RetaileBT WholesaleeOpenreacheOther Total
Year ended 31 March 2009 £m £m £m £m £m £m
Segment revenue 8,628 8,491 4,800 5,231 41 27,191
Internal revenue – (343) (1,228) (4,189) – (5,760)
Revenue from external customersa8,628 8,148 3,572 1,042 41 21,431
EBITDAb261 1,585 1,356 1,996 40 5,238
Depreciation and amortisation (776) (426) (686) (778) (224) (2,890)
Operating profit (loss)a(515) 1,159 670 1,218 (184) 2,348
Specific items (note 8)c(2,047)
Operating profit (loss) 301
Net finance expensed(620)
Share of post tax profit of associates and joint ventures 75
Loss before tax (244)
aBefore specific items.
bEBITDA is stated before specific items and is a non-GAAP measure provided in addition to the disclosure requirements defined under IFRS. The rationale for using non-GAAP measures is explained on
pages 56 to 58.
cRe-presented. See page 91.
dNet finance expense includes specific items of £79m (2010: £268m; 2009: £313m credit). See note 8.
eIn 2011 the group moved certain customer accounts between lines of business. Comparatives for 2010 and 2009 have been restated to be on a consistent basis. The impact on line of business results in 2010
was to decrease revenue and EBITDA in BT Retail by £173m and £73m (2009: £172m and £79m), to increase revenue and EBITDA in BT Wholesale by £143m and £74m (2009: £142m and £79m), to
increase revenue in Openreach by £30m (2009: £29m) with no impact on EBITDA. There is no impact on total group results.
FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OVERVIEWBUSINESS REVIEWFINANCIAL REVIEWREPORT OF THE DIRECTORSFINANCIAL STATEMENTSADDITIONAL INFORMATION