Vodafone Group 3Q Performance in Line; On Track to Meet Fiscal 2022 Guidance
02 February 2022 - 6:53PM
Dow Jones News
By Kyle Morris
Vodafone Group PLC said Wednesday that third-quarter performance
was in line with expectations and that it is on track to meet
fiscal 2022 guidance.
The U.K.-based telecommunications company said that group
service revenue growth for the period ended Dec. 31 was 2.7% on an
organic basis, with growth in both Europe and Africa.
Organic service revenue growth in Germany was 1.1%, it said.
Total revenue for the quarter was 11.68 billion euros ($13.17
billion) compared with EUR11.20 billion a year earlier.
The company reaffirmed fiscal 2022 guidance with adjusted
earnings before interest, taxes, depreciation and amortization
after leases--which strips out exceptional and other one-off
items--expected between EUR15.2 billion-EUR15.4 billion and
adjusted free cash flow of at least EUR5.3 billion.
"We remain focused on our operational priorities to strengthen
commercial momentum in Germany, accelerate our transformation in
Spain and position Vodafone Business to maximize EU recovery
funding opportunities. We are also committed to creating value for
our shareholders through proactive portfolio actions and continuing
to improve returns at pace," Chief Executive Nick Read said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
February 02, 2022 02:38 ET (07:38 GMT)
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