(Tiper Stock Exchange) – Total revenues at 10.74 billion eurosdown 4.8%, with a organic growth of 3.7% that exceeds expectations of analysts. Service revenues at 9.11 billion, down by 4.2%, but with the same organic growth of 3.7%. These are the results for the first quarter of the 2023-2024 fiscal year, announced by the Vodafone Group.
“As we have moved forward with our plans to transform Vodafone, we have delivered improved services revenue performance in nearly all of our markets. We archived particularly strong results in our Business segment and returned to services revenue growth in Europe”, commented the CEO Margaret of the Valley, adding “looking forward, we have taken the first steps of our roadmap focused on customers, simplicity and growth, but we have much more to do.”
On these bases the Vodafone Group confirms guidance for the year in terms of EBITDAaL of 13.3 billion and adjusted cash flow of approximately 3.3 billion.
As for Italyi revenues from Vodafone Italia services decreased by 1.6% a 1.03 billion euros, improving performance compared to -2.7% in the fourth quarter of FY 2022-2023. A result that benefits from the strong growth in the fixed segment (+8.7%) and new digital services, which partially offset the continued pressure on mobile prices.
The fixed line customer base decreased by 19,000, partially offset by 11,000 new customers in FWA.
The mark ‘I have.’ has continued to grow, with 63,000 new customers bringing the total to 3.1 million.
Vodafon also announced the appointment of Luka Mucic as new CFO effective September 1, 2023. “I am thrilled to have Luka joining the Vodafone team. He has a solid track record of international leadership, corporate repositioning and value creation. Luka joins us at a critical time as we drive Vodafone’s transformation forward,” commented CEO Della Valle.