Business
Vodafone Q1 FY25 Trading Update
Vodafone Q1 FY25 Trading Update.
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n\n\n\n\n\nVodafone Group Plc\nQ1 FY25 Trading Update\n25 July 2024\n \n\n\n\n\n\n\n\n\n \n\"Our performance in the first quarter is consistent with our full year guidance, which we reiterate today. We continue to deliver strong revenue growth in Africa and Turkey, whilst lower inflation is slowing revenue growth in Europe and accelerating Group EBITDAaL growth. Service revenue for the Group grew 5.4%, although in Germany we saw an expected service revenue decline, following the ongoing impact of the TV law change.\nDuring the last few months, we have announced the final step in reducing our stake in Vantage Towers to 50% for €1.3 billion and commenced our €2 billion share buyback programme following the sale of Spain. We continue to progress our transactions in Italy and the UK as well as the broader transformation of Vodafone, focused on customer experience, Business growth and operational execution in Germany. The actions we are taking now will deliver improved performance and underpin the turnaround of Vodafone.\"\nMargherita Della Valle\nGroup Chief Executive\n \n\n\n\n\nFinancial summary\n\n\nQ1 FY25\n\n\nQ1 FY24\n\n\nReported\n\n\nOrganic\n\n\n\n\n€m \n\n\n€m \n\n\nchange %\n\n\nchange %1\n\n\n\n\nService revenue\n\n\n7,465\n\n\n7,235\n\n\n3.2 \n\n\n5.4 \n\n\n\n\nOther revenue\n\n\n1,571\n\n\n1,558\n\n\n0.8 \n\n\n\n\n\n\n\nTotal revenue\n\n\n9,036\n\n\n8,793\n\n\n2.8 \n\n\n \n\n\n\n\nAdjusted EBITDAaL1\n\n\n2,681\n\n\n2,626\n\n\n2.1 \n\n\n5.1 \n\n\n\n\nAdjusted EBITDAaL margin1\n\n\n29.7%\n\n\n29.9%\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n1,545\n\n\n1,081\n\n\n42.9 \n\n\n\n\n\n\n\n1. Non-GAAP measure. See page 7. ǀ 2. The FY25 guidance foreign exchange rates were: €1 : GBP 0.86, €1 : ZAR 20.58, €1 : TRY 34.98, €1 : EGP 51.75.\n\n\n\n\n\n\n\nReported measures\n- Total revenue increased by 2.8% (Q4: 2.8%) to €9.0 billion as higher organic service revenue was partially offset by adverse foreign exchange movements\n- Operating profit increased by 42.9% to €1.5 billion, primarily driven by a €0.7 billion gain on the disposal of an 18% stake in Indus Towers, leaving Vodafone with a 3.1% shareholding\nOrganic and Adjusted measures\n- Group service revenue grew by 5.4% (Q4: 7.1%), with continuing strong growt...