Openreach reports revenue and EBITDA growth

Openreach has recorded continued pro forma revenue and EBITDA growth for the year to date.

A pro forma adjusted revenue performance of £15.8bn, up 3% on Q3 FY23, is attributed to price rises and fibre-enabled product sales in Openreach.

Openreach has accelerated its FTTP build rate to 73k per week, delivering a record 950k premises passed for its Q3.

Its total network has now expanded to 13m premises with a further six million where initial build is underway.

For Q3 Openreach recorded net adds of 432k, taking its total number of premises connected to 4.4m, around a 34% take-up rate.

Its retail FTTP base grew year-on-year by 46% to 2.4m of which 2.3m were Consumer and 0.1m were Business.

Pro forma adjusted EBITDA was £6.1bn, up 3%. Consumer broadband ARPU increased 5% year-on-year and Consumer postpaid mobile ARPU increased 8% year-on-year.

CEO Allison Kirkby said: "We continue to be on track to achieve our financial outlook for the year.

"As I assume the role of Chief Executive, we remain committed to our purpose and our strategic focus.

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