Vodafone Group Public Limited Company · LSE:VOD
Vodafone Group Public — Vodafone Group — Q1 2026 Earnings Presentation
14 slides from Vodafone Group Public's earnings presentation, Jul 24, 2025
Slide 1: Q1 FY26 Trading Update
Q1 FY26 Trading Update July 2025 Q1 FY26 Trading Update ⫶ July 2025 1
Slide 2: Highlights
Highlights Q1 service revenue growth +5.5% Encouraging progress in line with expectations Europe Q1 service revenue -1.3% Group Q1 Adj. EBITDAaL +4.9% Germany Q1 service revenue -3.2% Germany delivering expected service revenue Germany Q1 service revenue (excl. MDU) -0.3% improvements 1&1 customers
Slide 3: Financial Highlights: Encouraging progress in line with expectations
Financial Highlights ⫶ Encouraging progress in line with expectations Group service revenue growth Regional service revenue growth Adjusted EBITDAaL Group Group excl. Türkiye Europe Europe (ex. MDU impact) Africa +4.9%2 13.5% 13.8% 5.4% 5.4% 5.5% 11.6% 5.2% €2.7bn €2.7bn 10.0% 9.7% 4.2% 29.7% 29.3%
Slide 4: Germany: Delivering expected service revenue improvements
Germany ⫶ Delivering expected service revenue improvements Germany -3.2% Q1 Service Operational improvements 34% of Group service revenue1 revenue growth • -2.9pp impact from MDU drag (Q4: -3.3pp) • Value focus step-up on front-book, • Continued improvement in customer • Quarterly revenue trends imp
Slide 5: UK: Merger complete, forming the UK's leading mobile operator
UK ⫶ Merger complete, forming the UK’s leading mobile operator UK1 +0.9% 21% of Group service revenue2 Q1 Service Integration revenue growth • Good growth in Consumer & Wholesale • Mobile contract base decline due to • VodafoneThree now operational with a partially offset by Business decline timing
Slide 6: Other Europe & Türkiye: Impacted by Portugal market conditions
Other Europe & Türkiye ⫶ Impacted by Portugal market conditions Other Europe +0.2% Türkiye +63.8% Q1 Service Q1 Service 15% of Group service revenue1 8% of Group service revenue1 revenue growth revenue growth • Slowdown in growth due to continued • Mobile contract customer net additions • Moderating
Slide 7: Africa: Good growth across the footprint
Africa ⫶ Good growth across the footprint South Africa +2.9% Egypt +43.9% Internationals +12.6% 10% of Group service Q1 Service Q1 Service Q1 Service 5% of Group service revenue1 5% of Group service revenue1 revenue1 revenue growth revenue growth revenue growth • Good Consumer contract revenue growt
Slide 8: Vodafone Business: Maintaining growth momentum
Vodafone Business ⫶ Maintaining growth momentum Financial +4.0% Unique digital +14.7% Markets 4.7m performance Q1 Service revenue growth capabilities Q1digital services1 revenue growth performance Business Customers • Good growth in-line with FY25 • 21.9% YoY growth in Cloud portfolio with • Germany
Slide 9: FY26 guidance: Including impact of UK merger
FY26 guidance ⫶ Including impact of UK merger Capital Intensity Adjusted Adjusted EBITDAaL FCF • Broadly maintained market by market (€billion) FY25 actual 10.9 2.5 Leverage ratio Impact of exchange rates (0.3) (0.1) • Lower half of 2.25-2.75x range Remove Türkiye hyperinflation accounting 0.2 - Exp
Slide 10: Appendices
Appendices I More information p11 II ESG reporting & performance p12 III Importance notice p13 Q1 FY26 Trading Update ⫶ July 2025 10 Provide investor feedback here ⫶ investors.vodafone.com/feedback
Slide 11: Appendix: More information
Appendix ⫶ More information Africa ⫶ Vodacom Investor day 2025 Vodafone Business ⫶ Virtual investor briefing Introducing Vision 2030 Connecting people, places & things for a better future • We have structural growth opportunities • We operate in attractive markets • We are a market leader supporting
Slide 12: Appendix: ESG reporting and performance
Appendix ⫶ ESG reporting and performance Extensive suite of ESG disclosures Strong ESG performance Annual Report ⫶ vodafone.com/ar2025 ESG Addendum ⫶ investors.vodafone.com/esgaddendum ESG Ratings ⫶ • Integrated reporting covering • >1,200 datapoints, covering >300 investors.vodafone.com/esg-ratings
Slide 13: Appendix: Important notice
Appendix ⫶ Important notice You have been provided access to this presentation on the basis that you are an investment professional for the purposes of Article References to Vodafone are to Vodafone Group Plc and references to Vodafone Group are to Vodafone Group Plc and its 19 or a member of the pr
Slide 14: Upcoming events
investors.vodafone.com Vodafone Group Upcoming events Investor Relations ir@vodafone.co.uk 1 Kingdom Street, London, W2 6BY 29 Jul 29 Jul Annual General Meeting Annual 112025 Nov 2025 H1 FY26General results Meeting Matt Johnson 2025 Director matthew.johnson@vodafone.com Group Communications Roy Teal