BT reveals Capex of £4.8 bn for fibre and mobile networks

BT said its capital expenditure (Capex) will be around £4.8 billion during fiscal 2022-23 as it will focus on fibre infrastructure and mobile networks.
BT broadband
BT’s total capital expenditure including spectrum rose 25 percent to £5.3 billion in fiscal 2021-22. BT’s capital expenditure excluding spectrum increased 14 percent to £4.8 billion, primarily due to continued higher spend on fibre infrastructure and mobile networks in fiscal 2021-22.

BT’s Openreach has now passed 7.2 million premises with 1.8 million connections. BT’s 5G network now covers more than 50 percent of the UK population.

“We have the best networks in the UK and we’re continuing to invest at an unprecedented pace to provide unrivalled connectivity for our customers. At the same time we’re seeing record customer satisfaction scores across the business,” BT CEO Philip Jansen said in a news statement.

BT’s FTTP footprint reached 7.2 million with annualized Q4 build rate of over 3 million premises; take up of 1.8 million was driven by Equinox.

BT said 5G ready customer base is over 7.2 million. EE has the best 5G and 4G network, according to RootMetrics.

Openreach signed a MoU on a framework with Sky on FTTP co-provisioning; Sky engineers will complete the majority of their FTTP in-premises provisioning activities on Openreach’s FTTP network.

BT’s revenue fell 2 percent to £20.9 billion, reflecting revenue decline in Enterprise and Global offset by growth in Openreach.