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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