Vodafone Announces H1 2010/11 Results and Strategy Update
9 Nov 2010Corporate and Financial
1 minute read
Strong results: Improved revenue growth, upgraded full year profit guidance
- Q2 Group organic service revenue growth of +2.3% – with improved revenue trends in all regions
- H1 EBITDA margin 32.6% – trend in line with expectations
- Strong performance at Verizon Wireless
- Full year guidance for adjusted operating profit increased to £11.8 billion to £12.2 billion
- Free cash flow guidance confirmed to be in excess of £6.5 billion
- Accelerated realisation of SoftBank interests for £3.1 billion
Strategy update: creating a more valuable Vodafone
- A regionally focused Group: Europe, Africa and India
- A winning growth strategy:
- Mobile data: accelerate exploitation of mobile data growth opportunity
- Enterprise: selective expansion in growth segments
- Emerging markets: drive penetration and data across attractive footprint
- Total Communications in Europe: continued capital efficient approach
- New services: growth opportunities including machine-to-machine and financial services
- Exploit scale to enhance efficiency and deliver cost benefits
- Generate free cash flow or liquidity from non-controlled assets building on the China Mobile and SoftBank disposals
- Rigorous application of capital discipline to enhance shareholder returns
Vittorio Colao, Group Chief Executive, commented:
“I am pleased to report a further improvement in organic service revenue growth, together with upgraded guidance. We have also today announced an updated strategy, which positions Vodafone to realise further value from non-controlled assets, take full advantage of the most valuable telecommunications growth opportunities ahead and which will deliver sustainable revenue growth, stabilising margins and strong free cash flows.”
For further information:
Investor Relations
Telephone: +44 1635 33251
Media Relations
Telephone: +44 1635 664444
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