No surprise for the Q4 as revenues still did not stabilise while the EBITDA was up by 3% thanks to BT’s transformation programmes and tight cost management.
Capex was however up by a whopping 25% in 2021/22 and will remain at its peak in 2022/23. So, the group is not yet out of the woods and we see no dividend increases in the coming years…
We remain at Reduce (however, with now some modest upside).
12 May 2022
Hoping that revenue will finally grow in 2022/23
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Hoping that revenue will finally grow in 2022/23
BT Group plc (BT.A:LON) | 105 -1.8 (-1.6%) | Mkt Cap: 10,439m
- Published:
12 May 2022 -
Author:
Jean-Michel Salvador -
Pages:
3
No surprise for the Q4 as revenues still did not stabilise while the EBITDA was up by 3% thanks to BT’s transformation programmes and tight cost management.
Capex was however up by a whopping 25% in 2021/22 and will remain at its peak in 2022/23. So, the group is not yet out of the woods and we see no dividend increases in the coming years…
We remain at Reduce (however, with now some modest upside).