BT 2016 Annual Report Download - page 3

This is the BT Annual Report for the year ended
31 March 2016. Itcomplies with UK regulations and
comprises part of the Annual Report and Form 20-F
for the US Securities and Exchange Commission to
meet US regulations.
This is the second year that we’ve applied an Integrated
Reporting (IR) approach to how we structure and present
our Annual Report.
IR is an initiative led by the International Integrated Reporting
Council (IIRC). Its principles and aims are consistent with UK
regulatory developments in financial and corporate reporting.
We’ve reected guiding principles and content elements from
the IIRC’s IR Framework in preparing our Annual Report. This is
most obvious in the representation of our business model. This
year, we use an expanded set of icons for the inputs, outputs
and outcomes of the business model. We hope this will improve
linkage between the business model and the rest of the Strategic
Report. And the colours of the icons provide a mapping to the
IIRC’s ‘capitals’.
Welcome to BT Group plc’s
Annual Report 2016
Contents
2 Chairman’s introduction
3 Overview – BT in focus
The Strategic Report
19 Purpose and strategy
20 Chief Executive’s introduction
21 Our purpose
21 Our goal
21 Our strategy
24 Our culture
25 Delivering our strategy
26 Operating Committee
28 Our business model
31 Financial strength
31 Our people
34 Our networks and physical assets
36 Research and development
37 Brand and reputation
38 Stakeholders and relationships
43 Protecting the environment
45 Our performance as a sustainable and responsible business
46 Our risks
57 Our lines of business
93 Group performance
94 Group Finance Director’s introduction
96 Group performance
109 Governance
110 Chairman’s governance report
111 How we govern the group
112 Board of Directors
114 The Board
118 Reports of the Board committees
149 Directors’ information
150 General information
154 Shareholders and Annual General Meeting
157 Financial statements
158 Auditors’ reports – consolidatedfinancialstatements
165 Consolidated financial statements
170 Notes to the consolidated financial statements
222 Auditors’ report – parent company financialstatements
223 Financial statements of BT Group plc
228 Related undertakings
239 Additional information
240 Alternative performance measures
243 Selected financial data
245 Financial and operational statistics
248 Information for shareholders
264 Cross reference to Form 20‑F
268 Glossary of terms
Find out more
www.theiirc.org
Throughout the report look
out for these
Please see the cautionary statement regarding forward‑looking
statements on page 248.
The Purpose and strategy, Delivering our strategy, Our lines of business
and Group performance sections on pages 19 to 108 form the
Strategic Report. TheGovernance section on pages 109 to 155 forms
the Report of the Directors.
1
Reference to other pages within
the report
Reference to video contentonline
Reference to further readingonline
Business model icons like these.
They are defined on page 28.