Are you looking for information about offers, devices or your account?

Please choose your local Vodafone website

Interim Management Statement for the Quarter Ending 31 December 2011

9 Feb 2012Corporate and Financial
1 minute read

Strong performance in growth markets; southern Europe becoming more challenging

  • Group service revenue growth +0.9%(*); or +3.1%(*) excluding mobile termination rate cuts
  • Strong service revenue growth in India +20.0%(*), Vodacom +8.0%(*) and Turkey +23.5%(*); continued progress in Germany +0.7%(*) and the UK +1.1%(*)
  • Economic conditions in southern Europe showing further deterioration: greater service revenue decline in Italy, -4.9%(*); fall in Spain broadly stable at -8.8% (*) benefiting from our commercial actions
  • Continued strong growth in our US associate, Verizon Wireless; service revenue +6.8%(*) driven by strong customer and data revenue growth
  • Data revenue +21.8%(*); European smartphone penetration now 24.4% (Q3 10/11: 16.5%)
  • Free cash flow £1.5 billion; net debt £25.5 billion after £0.8 billion proceeds from Polkomtel disposal, £0.8 billion of share buybacks and £1.0 billion of spectrum payments
  • Full year guidance for adjusted operating profit and free cash flow confirmed
Quarter ended 31 December 2011Change year-on-year
£m %%
Group revenue11,618(2.3) +1.6
Group service revenue10,611(3.2)+0.9
Africa, Middle East and Asia Pacific3,161(1.5) +7.6
Capital expenditure1,464(5.2)
Free cash flow1,465+34.9

Vittorio Colao, Chief Executive, commented

“We are continuing to make progress in the key strategic areas of data, enterprise and emerging markets. Despite the further deterioration of the southern European economic environment during the quarter, our broad geographic mix is delivering a resilient overall performance. Our improved value perception, strong cash generation and healthy balance sheet give us confidence that we can continue to execute well.”

For further information

Investor Relations
Telephone: +44 7919 990230

Media Relations
Telephone: +44 1635 664444

  • Corporate and Financial
  • Financial
  • Press Release

More stories

No results found