Vodafone Group Plc (VOD) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us for our Q3 trading update. Before taking questions, a brief summary as usual. Let me first start with our results. Overall, we have performed well across the group and we continue to trade in line with our full year guidance which we have reiterated today. Service revenue accelerated to 5.2% this quarter and EBITDA grew by 2.2%. This was driven by good growth across most of our markets with an acceleration in trends in both the UK and Africa. Turkey also delivered another strong set of results with growth in Euro terms over 50%. Operationally, I would like to call out performance in the UK, where we have achieved several records this quarter. We reported our best ever set of net motor scores and are beating the market across every single consumer segment. The level of deep detractors is at a record low, and we reported our highest ever broadband net additions in Q3. This demonstrates the importance of investing in a market leading customer experience with consistent operational execution. In Germany, our performance was similar to Q2 as we continue to be impacted by the MDU TV law change. While this transition continues to have a significant financial impact, the migration of this customer base is now effectively complete, fully in line with our expectations. We have also seen further improvements in our commercial performance with our gigabit broadband base now stabilized. A result underpinned by structural changes to our customer experience with a strong network and continued investment in customer satisfaction and brand. Our transformation of Vodafone Germany will now leverage the full reset of the leadership team with new directors for business, consumer, IT, and HR having joined in the last few months. However, ...