Vodafone: annual results in line despite Germany

(CercleFinance.com) - On Tuesday, Vodafone reported annual results that were more or less in line with expectations, despite a contraction in its performance on the German market.


The cell phone operator reported annual sales that fell 2.5% to E36.7bn at end-March, despite 5.4% growth in its corporate services business.

EBITDAaL - a key measure of the sector's profitability - fell by 11% to E11bn.

The group explains this decline by its recent exit from the Spanish and Italian markets, in order to refocus on its most profitable activities.

Organically, i.e. excluding the FX factirs and changes in its consolidation scope, sales rose by 2.2%.

Vodafone - which says that these figures are in line with its targets - now intends to transform itself into a growth company, accelerate its good momentum in professional services and improve its performance in Germany, where both sales and EBITDAaL fell last year.

Regarding its outlook for 2024-2025, the group says it is targeting 'aL' Ebitda of around E11bn and adjusted FCF of at least E2.4bn.

This was liked in London, where Vodafone shares were up 3% after this publication.


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