Openreach FTTP roll-out reaches 4.1m premises in Q3 2020/21 results
The latest BT Group results still are muted due to the impact of COVID-19 and the changes that has brought to the business world with revenue down 3% in the Consumer area, 6% down for the Enterprise division and 16% for the Global Operations. Openreach is going against the grain with revenue increasing by 2% with the increase being attributed to a growth in income from FTTP products and Ethernet services.
The FTTP footprint has grown from 3.5 million to 4.050 million premises passed and in terms of properties connected this has jumped from 655,000 to 790,000. The full text of the financials talks of 17,000 FTTP orders per week and we suspect that is higher than the 11,250/week that the KPI figures suggest because of delays in installing connections i.e. a backlog of installs may be building up due to lockdown. Additionally the connection rate from the previous quarter was just 8,417 per week so it is very likely that the 3rd quarter has seen the number of connections accelerate in the later weeks of the quarter, i.e. in December.
The rising FTTP footprint means that the goal of 4.5 million premises passed with FTTP by end of March 2021 is looking very achievable now. Our tracking as of 4th February has a footprint of 3,584,672 premises so we holding at around 10 to 12 weeks behind, so if you are reading this and you are on an exchange of 50,000 premises that we have somehow missed from our maps do let us know. Our monthly report on where we have been finding Openreach FTTP will appear as usual on the 12th.
The retail arm of BT has grown the number of FTTP customers to 686,000 which shows they are still the dominant seller of FTTP using the Openreach network. Looking at what we see from speedtests we believe Sky will start to eat into that dominance, not because they have a Gigabit package at a cheap price, but they are selling the 160 Mbps FTTP option at a cheaper price than BT and this speed represents a nice step up from VDSL2.
82.3% of BT Consumer broadband customers are using a superfast product and 4.8% an ultrafast one. Unfortunately the vague definitions which mean FTTP customers buying entry level 40, 55 and 80 Mbps products will get classed as superfast stops us from working out how many actual broadband customers the Consumer division has.
A short write up from us on the results this quarter, the key part is that Openreach continues to build at large volumes and now we head off to try and have an above average day in terms of finding that FTTP. A perfect day would be to find 15,000 premises of Openreach FTTP in a single day setting a new record for us, an average day is around 4,000 premises in a single day.