“We have had a good start to the year with strong revenue and EBITDAaL growth… After two years of transformation and change, Vodafone is now well positioned for multi-year growth across both Europe and Africa.â€
- Margherita Della Valle
Group service revenue growth (%)
Europe & Africa service revenue growth (%)
FY25 Management Interview
"Since I set out my plans to transform Vodafone two years ago, Vodafone has changed. Clearly there is much more to do, but this period of transition has repositioned Vodafone for multi-year growth."
- Margherita Della Valle
Group Chief Executive
Group service revenue growth (%)
Results in line with expectations and growth outlook
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Customers
- Delivering the simple and predictable experience our customers expect.
- Getting the basics right and refocusing our resources towards improving customer experience.
Customers
- Improved customer satisfaction across our markets, with both UK and Germany achieving their best ever results.
- In Germany, we delivered the lowest ever detractor scores across both mobile & fixed and the best ever NPS, with gap to incumbent halved over 2 years.
- In the UK, we had our lowest ever level of detractors in our customer base and record low mobile complaints with over 50% reduction over two years.
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Simplicity
- Become a simple and faster business.
- Simplify our operations and executing on our cost programmes to improve profitability.
Simplicity
- Simplified our operations with a leaner HQ, commercial decisions delegated to our markets, competitive commercial shared operations and 10,000 role reductions actioned.
- Reshaped our operating footprint focused on growing telco markets with strong positions and local scale. We have completed the sale of Vodafone Spain and Vodafone Italy and the merger with Three UK is completing in the first half of 2025. We have also made progress in simplifying our non-controlled assets held in our new Investments portfolio.
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Growth
- Right-sizing the portfolio for growth.
- Significant opportunity to grow in:
- Business
- Africa
- Vodafone Investments
Growth
- Grown digital services, with B2B digital services up 26.1% over the last two years and financial services customers reaching 88 million. We have also continued to innovate in core connectivity and in January 2025, we successfully completed the world’s first video call through a satellite to a normal mobile phone.
- Financially, we have delivered our transformation and the MDU TV transition in line with the Adjusted free cash flow outlook we shared in May 2023, with over €2.5 billion reported Adjusted free cash flow for both FY24 and FY25.
Europe & Africa service revenue growth (%)
"Good Group performance driven by the UK, Türkiye and Africa. We are looking forward to a stronger Vodafone in the years ahead."
- Margherita Della Valle
Group service revenue growth (%)
Europe & Africa service revenue growth (%)
H1 FY25 Results Update
"We continue to make good progress on our strategy to change Vodafone."
- Margherita Della Valle
Group service revenue growth (%)
Underpinning our transformation
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Customers
- Delivering the simple and predictable experience our customers expect.
- Getting the basics right and refocusing our resources towards improving customer experience.
Customers
Investing in the turnaround of Germany
- Invest in the customer experience, brand and seeing improved commercial performance.
- Continue to upgrade our award-winning cable network and now market the largest Gigabit footprint.
- Halfway through the execution of 3,100 role reduction plan.
Vodafone Business capabilities
- Supported by Microsoft, Google & Mastercard partnerships.
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Simplicity
- Become a simple and faster business.
- Simplify our operations and executing on our cost programmes to improve profitability.
Simplicity
Efficiency via simplification of shared operations & AI
- Our commercial shared operations are now operational, with Accenture investing its first tranche of its €150 million commitment.
- Rolling out our new AI-driven digital assistants to our agents, and directly to our customers with our Super Tobi chatbot. Our AI adoption is supported by our strategic partnerships with Microsoft & Google.
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Growth
- Right-sizing the portfolio for growth
- Significant opportunity to grow in:
- Business
- Africa
- Vodafone Investments
Growth
Portfolio actions
- UK: completion expected in early 2025.
- Italy: completion expected in early 2025.
- Romania: signed MoU for potential acquisition.
Vodafone Investments
- Vantage Towers: sale of a further 10% stake in Oak Holdings GmbH for €1.3 billion.
- Indus Towers: 18% stake sale with €1.7bn gross proceeds, used to substantially repay existing lenders in India.
Europe & Africa service revenue growth (%)
"Our performance in the first quarter is consistent with our full year guidance, which we reiterate today."
- Margherita Della Valle
Europe & Africa service revenue growth (%)
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 17 2016 | Full Year | ||||||
| Mar 31 2016 | Form 20-F | ||||||
| Mar 31 2016 | Annual Report | ||||||
| Feb 04 2016 | Q3 | ||||||
| Nov 10 2015 | H1 | ||||||
| Jul 24 2015 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 19 2015 | Full Year | ||||||
| Mar 31 2015 | Form 20-F | ||||||
| Mar 31 2015 | Annual Report | ||||||
| Feb 05 2015 | Q3 | ||||||
| Nov 11 2014 | H1 | ||||||
| Jul 25 2014 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 21 2013 | Full Year | ||||||
| Mar 31 2013 | Form 20-F | ||||||
| Mar 31 2013 | Annual Report | ||||||
| Feb 07 2013 | Q3 | ||||||
| Nov 13 2012 | H1 | ||||||
| Jul 20 2012 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 22 2012 | Full Year | ||||||
| Mar 31 2012 | Form 20-F | ||||||
| Mar 31 2012 | Annual Report | ||||||
| Feb 09 2012 | Q3 | ||||||
| Nov 08 2011 | H1 | ||||||
| Jul 22 2011 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 17 2011 | Full Year | ||||||
| Mar 31 2011 | Form 20-F | ||||||
| Mar 31 2011 | Annual Report | ||||||
| Feb 03 2011 | Q3 | ||||||
| Nov 09 2010 | H1 | ||||||
| Jul 23 2010 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 18 2010 | Full Year | ||||||
| Mar 31 2010 | Form 20-F | ||||||
| Mar 31 2010 | Annual Report | ||||||
| Feb 04 2010 | Q3 | ||||||
| Nov 10 2009 | H1 | ||||||
| Jul 24 2009 | Q1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 19 2009 | Full Year | ||||||
| Mar 31 2009 | Form 20-F | ||||||
| Mar 31 2009 | Annual Report | ||||||
| Feb 03 2009 | Q3 | ||||||
| Nov 11 2008 | H1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 27 2008 | Full Year | ||||||
| Mar 31 2008 | Form 20-F | ||||||
| Nov 13 2007 | H1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 29 2007 | Full Year | ||||||
| Nov 14 2006 | H1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 30 2006 | Full Year | ||||||
| Nov 15 2005 | H1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
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| May 24 2005 | Full Year | ||||||
| Nov 16 2004 | H1 |
| Date | Title | Report | Presentation | Video | Q&A | Spreadsheet | Transcript |
|---|---|---|---|---|---|---|---|
| May 25 2004 | Full Year | ||||||
| Nov 18 2003 | H1 |