Vodafone Group Plc (VOD) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us. Before moving to Q&A, I will briefly provide an update on our performance in FY26 as well as our growth outlook. Vodafone is now entering a new chapter as a simpler and stronger business. Simpler because we have gone through a significant transformation over the last three years, covering all aspects of our business, including portfolio, capital structure and operating model. And we are stronger because our continued operational progress with our strategic priorities of customer simplicity and growth. With these foundations and the range of opportunities across our diversified and balanced portfolio, we are in a strong position to grow in FY27 and beyond. And as I mentioned growth, that leads me on to our financial results. We are pleased with our performance in FY26 as we have achieved the upper end of our expectations. Group service revenue growth remained strong in the fourth quarter at 5.1% with growth across both Europe and Africa. In Germany, despite the ongoing pressure in TV and the mobile market remaining competitive, our performance has improved, as we are now growing in B2B and consumer broadband. These improvements are direct results of our actions. In consumer broadband, we have continued to improve customer satisfaction and increased front book prices, and our value equation is working. And in B2B, we are benefiting from the capabilities we have developed in digital services, including cloud, security, and AI. In our emerging markets, we grew service revenue in Europe during the year. Our second largest division, Africa, reported a great set of results yesterday, with strong performances across all of our markets, delivering its highest service revenue growth in almost two decades. On profitability, We...