(Finance) – The Vodafone Group closed the quarter as at 30 June 2022, the first of fiscal 2023, with revenues from services up by 2.5%, up from 2% in the previous quarter. Revenues grew by 1.6% overall in the quarter (organic growth + 2.7%), adding other non-service revenues.
Very good business in Europethanks to’acceleration of the UK market, while Germany has discounted the effects of the Telecommunication Act. The average revenues (ARPU) of mobile customers in Europe are up by 0.7% on an annual basis. The mobile business is doing very well with 215 thousand more contracts.
“We have operated in line with our expectationsachieving another quarter of growth in both Europe and Africa and we have seen an acceleration of business growth “, commented the Group CEO Nick Readadding “while we are not immune from current macroeconomic challenges, we are on track to deliver financial results for the year in line with our guidance.”
Vodafone had already indicated that theAdjusted EBITDAaL at the end of the 2023 financial year it should be between 15 and 15.5 billion euros and adjusted Free Cash Flow amount to approximately € 5.3 billion