Vodafone reported ending the third quarter with service revenues totaling 9.383 billion euros, marking an increase of 4.7% from previous figures. The multinational telecommunications company also projected that for the entire financial year, they are on track to reach an adjusted EBITDA after leasing of 13.3 billion euros, along with a cash flow of 3.3 billion euros.
CEO Margherita Della Valle asserted, “During the third quarter, we were able to uphold favorable service revenue trends in both our European and African markets. This was bolstered by a notable acceleration in our Vodafone Business segment, particularly in our Cloud and Internet of Things services, which have seen growth of more than 20%. We have made significant strategic strides in the first nine months of the financial year, as evidenced by improved customer satisfaction and three consecutive quarters of service revenue growth in Europe and Africa. We are making good progress on transactions announced in the UK and Spain, and we are in active discussions in Italy. Furthermore, we have initiated strategic collaborations with Microsoft and Accenture to expedite our transformation process.”
Concerning operations in Vodafone Italy, the company reported a 1.3% decrease in service revenues in the third quarter compared to the same period from the previous year. This drop has been attributed to persistent pricing pressures in the mobile segment. However, this decline was partially mitigated by the robust demand for fixed connectivity and digital services for businesses, according to the group’s commentary. Specifically, Vodafone Business saw a 7.5% increase in service revenue over the past year. With mobile services continuing to expand, it now boasts 3.2 million customers. Vodafone Italia’s ultra-broadband services are currently accessible to 23.3 million households and businesses, while its FWA 5G services have reached 4.3 million customers.
