Vodafone trading update for the quarter ended 31 December 2015
Group organic service revenue up 1.4%* (Q2: 1.2%*); sixth consecutive quarter of improvement
Continued recovery in Europe (-0.6%*); sustained momentum in AMAP (6.5%*)
Strong commercial progress: Europe mobile contract net adds +506,000; broadband customers +311,000
Project Spring: 92% through mobile build; 4G coverage now 84% in Europe; AMAP build targets achieved
Continued data growth: usage +68%; 34.8 million 4G customers, +4.7 million in the quarter
European fixed service revenue +3.7%*; marketing high speed broadband to 69m households, 29m on-net
Enterprise service revenue +2.6%1; continued growth in VGE and M2M
Full year guidance confirmed (.pdf)
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31 December 2015
|Group service revenue||9,169||(6.3)||1.4|
|Africa, Middle East and Asia Pacific ('AMAP')||2,926||(3.6)||6.5|
Vittorio Colao, Group Chief Executive, commented:
"We have taken another step forward in the last three months, with the highlights being a strong performance in South Africa and improving trends in Germany and Italy. With 7 million new customers in the quarter, we have maintained our good commercial momentum in mobile and are beginning to accelerate in fixed, as we launch converged services in more markets. Customers are increasingly recognising the quality of our networks, leading to strong growth in data usage and benefiting from the significant investments in 4G and fibre that we have made over the last two years. We continue to face regulatory and competitive challenges in many markets, but we are confident that the business is well positioned for the growth opportunities ahead."
* All amounts in this document marked with an “*” represent organic growth which presents performance on a comparable basis, both in terms of merger and acquisition activity and movements in foreign exchange rates.
1 Organic growth adjusted for inter-quarter timing difference.
2 The Group has amended its reporting to reflect changes in the internal management of its Enterprise business. The primary change has been that on 1 April 2015, the Group redefined its segments to report international voice transit service revenue within common functions rather than within the service revenue amounts disclosed for each country and region. The service revenue amounts presented for the quarter ended 31 December 2014 have been restated onto a comparable basis together with all disclosed organic service revenue growth rates. There is no impact on total Group service revenues.
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