Q3 FY26 Trading Update
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We maintained good service revenue momentum in the third quarter across both Europe and Africa. Looking ahead, we are on track to deliver at the upper end of our guidance range for both profit and cash flow.
Margherita Della Valle
Group service revenue growth (%)
Share and dividend performance
In line with the ambition to grow the dividend within the capital allocation policy announced in February 2024 and having now completed the right-sizing of our portfolio, we are committing to a progressive dividend policy, reflecting our medium-term outlook for Adjusted free cash flow growth. For FY26 we expect to grow the full year dividend per share by 2.5%. Going forward, the interim dividend will be set each year at 50% of the prior full year dividend.
FY26 key performance indicators
We measure our success by tracking key performance indicators that reflect our strategic, operational and financial progress and performance.
€ 16.3 BN
Service revenue
Grew on a like-for-like basis in H1 FY26
€ 5.7 BN
Adjusted EBITDAaL
Grew on a like-for-like basis in H1 FY26
7.2 %
Return on capital employed (ROCE)
H1 FY26 pre-tax ROCE broadly unchanged year-on-year
Investor events
