BT Group PLC (BT:NYSE)

BT Group plc reported earnings results for the second quarter and six months ended September 30, 2009. For the quarter, the company's revenue of £5,122 million, down 3%, or 6% excluding foreign compared to revenue of £5,303 million for the same quarter a year ago. Adjusted EBITDA of £1,436 million, up 2% reflecting progress in all lines of business compared to £1,407 million for the same quarter a year ago. Adjusted profit before tax was £461 million or 4.5 pence per share and reported profit before tax of £275 million or 5.5 pence per share compared to adjusted profit before tax of £490 million or 4.9 pence per share and reported profit before tax of £494 million or 4.9 pence per share for the same quarter a year ago. Reported EBITDA was £1,309 million compared to £1,333 million for the same quarter a year ago. Free cash flow was £705 million and capital expenditure of £558 million compared to free cash flow of £369 million and capital expenditure of £766 million for the same quarter a year ago. Adjusted operating profit was £677 million and reported operating profit of £550 million compared to adjusted operating profit of £722 million and reported operating profit of £648 million for the same quarter a year ago. For the six months, the company reported adjusted profit before tax was £888 million or 8.8 pence per share and reported profit before tax of £547 million or 8.3 pence per share compared to adjusted profit before tax was £1,009 million or 10.0 pence per share and reported profit before tax of £991 million or 9.8 pence per share for the same quarter a year ago. Adjusted EBITDA was £2,807 million and reported EBITDA of £2,594 million compared to adjusted EBITDA of £2,824 million and reported EBITDA of £2,650 million for the same period a year ago. The company reported revenue of £10,357 million compared to £10,480 million for the same period a year ago. Free cash flow was £583 million and capital expenditure of £1,117 million compared to negative free cash flow of £365 million and capital expenditure of £1,568 million for the same period a year ago. The company reported net debt of £9,878 million as on September 30, 2009 compared to £11,028 million as on September 30, 2008 for the same period a year ago. Adjusted operating profit was £1,310 million and reported operating profit of £1,097 million compared to adjusted operating profit of £1,448 million and reported operating profit of £1,274 million for the same period a year ago. The company revised earnings guidance for the full year of fiscal 2010. For the year, the company now expects decline in revenue of 3% to 4%, capital expenditure of £2.6 billion and free cash flow of at least £1.6 billion compared to previous guidance of decline in revenue of 4% to 5%, capital expenditure of £2.7 billion and free cash flow of at least £1 billion. The company now expects net debt of below £10 billion. The company provided dividend guidance for the full year of fiscal 2010. For the year, the company expects to increase dividends by around 5% for the full year of fiscal 2010. The company declared interim dividend of 2.3 pence per share for the six months ended September 30, 2009 compared to 5.4 pence per share for the same period a year ago.

BT Group plc announced that they will report Q3, 2010 results on February 11, 2010.

BT Group plc, Q2 2010 Earnings Call, Nov-12-2009