BT 2016 Annual Report Download - page 240
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246 BT Group plc
Annual Report 2016
Financial ratios
Year ended 31 March 2016 2015 2014 2013 2012
Return on capital employeda
Adjustedb – % 13.8 25.2 22.9 22.1 20.4
Reported – % 13.0 23.6 21.1 20.6 19.3
Interest coverc
Adjustedb – times 8.2 6.7 5.8 5.1 4.5
Reported – times 5.2 4.1 3.8 3.8 3.7
Net debt to adjusted EBITDAb – times 1.5 0.8 1.1 1.3 1.5
Capital expenditurec as a percentage of revenueb – % 14.0 13.0 12.8 13.3 13.4
a The ratio is based on profit before taxation and net finance expense to capital employed. Capital employed is represented by total assets less current liabilities (excluding corporation tax, current borrowings,
derivative financial liabilities and finance lease creditors) less deferred and current tax assets, retirement benefit asset, cash and cash equivalents, derivative financial assets and investments.
b Before specific items.
c The number of times net finance expense is covered by operating profit.