Vodafone Group Plc (VOD) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us today. Alongside me, I'm pleased to be joined by Pilar, our new Group CFO. Welcome, Pilar. Thank you, Margherita. It's great to be with everyone today. Before going to Q&A, let me provide you, as usual, with a brief summary of our Q3 results. Overall, we continued to perform well and have maintained our good top-line momentum, having grown Group Service Revenue by 5.4% this quarter. This was supported by growth across both Europe and Africa, with continued growth in Germany and strong contributions from both Africa and Turkey. Moving to profitability, Group EBITDA grew by 2.3% in Q3 and 5.3% YTD, which is fully in line with our expectations and our trajectory to deliver the upper end of our FY26 guidance. Beyond these results, we continue to make good progress against our strategic priorities. In Germany, we continue to improve our customer experience. In mobile, our network test results have continued to improve despite having completed the migration of 12 million 1&1 customers, one of the largest in European telcos. We now have more mobile customers using our network than any other operator in the country. And in fixed, our NPS continues to grow quarter after quarter. And we have just increased upload speeds nationwide across our cable network. This has been supportive of our value strategy, whilst our price actions have impacted gross additions in the quarter, the improvement of our inflow revenue, with new customer ARPUs now 21% higher year on year, has stabilized consumer broadband revenues. However, we still have more to do in what remains a competitive market environment. Moving to the UK, Following an exceptionally fast start, our integration and network investment plan is now well underway. Our initial net...