BT 2015 Annual Report Download - page 211

209
Overview
The Strategic Report
Purpose and strategy Delivering our strategy Group performance Governance Financial statements Additional information
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This Annual Report contains certain forward-looking statements which
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 ependiture proposed acuisitions and related forecasts
shareholder returns including progressive dividends and share buyback;
net debt; credit ratings; our group-wide restructuring programme, cost
transformation plans and restructuring costs; investment in and roll
out of our fibre networ and its reach innovations increased speeds
and speed availability; our broadband-based service and strategy; our
investment in TV, enhancing our TV service and BT Sport; the BT Pension
Scheme recovery plan, operating charge, regular cash contributions
and interest epense eective ta rate rowth opportunities in
networked IT services, the pay-TV services market, broadband, and
mobility and future voice; 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 fied wholesale and retail businesses and the ipact of the
Undertakings to Ofcom under the Enterprise Act; BT’s possible or
assued future results of operations andor those of its associates and
oint ventures investent plans adeuac of capital financin plans
and refinancin reuireents deand for and access to broadband
and the promotion of broadband by third-party service providers;
anticipated financial and other benefits and sneries resultin fro the
proposed acquisition of EE, including revenue, operating cost and capital
expenditure synergies; our plans and objectives following completion of
the acquisition; and those statements preceded by, followed by, or that
include the words ‘aims’, ‘believes’, ‘expects’, ‘anticipates’, ‘intends’,
‘will’, ’should’ ‘plans’, ’strategy’, ’future’, ‘likely’, ’seeks’, ’projects’,
‘estimates’ or similar expressions.
lthouh  believes that the epectations 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
stateents involve riss and uncertainties actual results a dier
materially from those expressed or implied by these forward-looking
stateents. actors 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 benefits and advantaes of new technoloies products
and services not being realised; developments in the convergence of
technologies; external threats to cyber security, data or resilience;
prolonged adverse weather conditions resulting in a material increase in
overtie sta or other costs or ipact on custoer service the tiin
of entr and profitabilit of  in certain arets sinificant chanes in
aret shares for  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; uncertainties and assumptions relating
to the proposed  acuisition conditions of the acuisition includin
regulatory approval) not bein satisfied and the anticipated sneries
strateic benefits and return on investent not bein realised and
eneral financial aret conditions aectin s perforance and
abilit to raise finance. ertain of these factors are discussed in ore
detail elsewhere in this Annual Report including, without limitation, in
2XUULVNV on pages 41 to 52. BT undertakes no obligation to update any
forward-looking statements whether written or oral that may be made
from time to time, whether as a result of new information, future events
or otherwise.