The British telecommunications giant Vodafone (-4,6% in London) closed the first half of its 2024-2025 financial year with a operating profit of 2,4 billion euros, an increase of 28,3% compared to the same period of the previous financial year. The'adjusted profit before interest, taxes, depreciation, amortization and rental expenses fell slightly to 5,41 billion euros from the previous 5,43 billion.
On the rise i Group revenues, which rose in the period by 1,6% to 18,28 billion euros from 17,98 billion euros while the revenues from services increased by 1,7% to 15,11 billion euros and on an organic basis grew by 4,8%, with an expected slowdown in Germany offset by growth in Other Europe, Africa and Turkey.
EBITDAaL adjusted organically increased 3,8% to €5,4 billion, supported by growth in service revenues and lower energy costs in Europe.
Vodafone confirms guidance
The board of directors announced a interim dividend of 2,25 cents per share. Vodafone also confirmed its estimates for 2025, expecting adjusted EBITDA of approximately €11,0 billion and adjusted free cash flow of at least €2,4 billion.
“We continue to make good progress on our strategy to change Vodafone,” commented CEO Margherita Della Valle – The approval processes for our transactions in the UK and Italy are now coming to a close. These will complete our program to reshape the group for growth. We are also investing in Germany to strengthen our market position and taking steps to expand our B2B capabilities.”
“As we navigate this transition year, our first half results were consistent with our expectations and we are reaffirming our full year guidance,” he added. “We grew service revenues by 4,8% and adjusted EBITDAaL by 3,8%. We achieved good performance in our markets, with the exception of Germany, where we have been impacted as expected by the change in the TV law. I am confident that the actions we are taking will deliver growth for Vodafone this year and further acceleration in fiscal 2026.”
Regarding share buybacks, the second tranche of €500 million is almost complete, with 1,2 billion shares repurchased for €1,0 billion by 11 November 2024.
