Group service revenue +1.5%(*), excluding mobile termination rate cuts +3.9%(*)
Strong service revenue growth in India +16.8%(*), Turkey +32.1%(*) and Vodacom +7.8%(*); resilient performance from Germany +0.2%(*) and UK +1.7%(*)
Conditions in southern Europe remain challenging: Italy -1.5%(*), Spain deteriorating to -9.9%(*) due to price reductions
Group data revenue +24.5%(*) at £1.5 billion; Europe smartphone penetration 19.5% (Q1 FY11: 13.6%)
£1.3 billion free cash flow after continued capital investment, supports dividend target
Net debt reduced to £23.1 billion following receipt of £6.8 billion SFR disposal proceeds; £4.0 billion share buyback started, 10% complete(1)
Polkomtel sale announced; agreed terms to buy a further 33% stake in Vodafone Essar Limited
Full year outlook confirmed
Table - 6c64ecc7-d6ad-4859-8afc-5e2880d8c731
Vittorio Colao, Chief Executive, commented “We have made a good start to the year, reporting robust results despite challenging macroeconomic conditions across southern European economies and the impact of cuts to mobile termination rates. Revenue from our key focus areas of data, enterprise and emerging markets continues to grow strongly. With our broad geographical mix and improving market positions, we are well placed for the rest of the financial year.”
For further information:
Investor Relations Telephone: +44 7919 990230 Media Relations Telephone: +44 1635 664444
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