Business
Vodafone Q1 FY24 Trading Update
Vodafone Q1 FY24 Trading Update.
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n\n\n\n\nVodafone Group Plc ⫶ Q1 FY24 trading update\n24 July 2023 \n \nBroad-based growth improvement\nMargherita Della Valle, Group Chief Executive, commented:\n\"As we progress our plans to transform Vodafone, we have achieved a better service revenue performance across almost all of our markets. We have delivered particularly strong trading in our Business segment and returned to service revenue growth in Europe.\n \nLooking ahead, we have taken the first steps of our action plan focused on customers, simplicity and growth, but we have much more still to do.\"\n \n\n\n\n\nQ1 performance summary\n\n\nQ1 FY24\n\n\nQ1 FY23\n\n\nReported\n\n\nOrganic\n\n\n\n\n€m \n\n\n€m \n\n\ngrowth %\n\n\ngrowth % 1\n\n\n\n\nService revenue\n\n\n9,110\n\n\n9,514\n\n\n(4.2)\n\n\n3.7*\n\n\n\n\n - of which Germany\n\n\n2,819\n\n\n2,857\n\n\n(1.3)\n\n\n(1.3)*\n\n\n\n\nOther revenue\n\n\n1,630\n\n\n1,764\n\n\n \n\n\n \n\n\n\n\nTotal revenue\n\n\n10,740\n\n\n11,278\n\n\n(4.8)\n\n\n3.7*\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n* represents organic growth. See page 2. ǀ 1. Non-GAAP measure. See page 6. \n\n\n\n\n\n\n\n\n\n\n\n\n· Group service revenue growth of 3.7%* (Q4: 1.9%*), or 1.8%* (Q4: 0.5%*) excluding Turkey\n· Broad-based service revenue improvement across almost all European markets\n· Germany service revenue improved to -1.3%* (Q4: -2.8%*), supported by broadband price increases\n· Vodafone Business: service revenue growth accelerated to 4.5%* (Q4: 2.9%*) driven by a strong performance in digital services\n· Africa: Vodacom service revenue growth 9.0%* (Q4: 7.0%*), improved trend in South Africa, strong growth in Egypt\n· FY24 guidance1 re-iterated: Adjusted EBITDAaL c.€13.3 billion and Adjusted free cash flow of c.€3.3 billion\nNote:\n1. The FY24 guidance foreign exchange rates were: €1 : GBP 0.88, €1 : ZAR 19.30, €1 : TRY 21.10, €1 : EGP 33.38. \n \n\n\nFor more information, please contact:\nInvestor Relations Media Relations...