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Interim Management Statement for the Quarter ended 30 June 2012

20 Jul 2012Corporate and Financial
< 1 minute read
  • Group service revenue increased 0.6%*; excluding mobile termination rate (‘MTR’) cuts growth was 2.3%*
  • Continued strong service revenue growth in emerging markets: Vodacom 5.7%*, India 16.2%* and Turkey 18.7%*
  • Mixed trends in Europe: service revenue growth strong in Germany at 4.2%*; UK -0.8%* due to increased competition and a weaker economy; conditions in Italy (-7.7%*) and Spain (-10.0%*) remain challenging
  • Verizon Wireless (‘VZW’) service revenue grew 8.2%* driven by data
  • Group data revenue grew 17.1%* reflecting an increase in Europe smartphone penetration to 28.7%
  • £0.9 billion of free cash flow after capital investment of £1.1 billion
  • Good progress in strengthening our business: proposed acquisitions of Cable & Wireless Worldwide and TelstraClear; network sharing agreements in five markets
  • Net debt reduced to £22.7 billion after receipt of final SoftBank proceeds (£1.5 billion) and £0.8 billion of share buybacks (£6.8 billion share buyback programmes almost complete)
  • Full year outlook confirmed
Change year-on-year
Quarter ended June 2012ReportedOrganic
&#xA3;m %%
Group revenue10,767-7.71
Group service revenue9,975-8.10.6
Africa, Middle East and Asia Pacific3,033-46.1
Capital expenditure1,116-7.5
Free cash flow943 -24.9

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