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H1 FY25 Results

Nov 12, 2024

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Q3 FY25 Trading Update

Feb 04, 2025

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Share Price and Dividend Announcement

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Final Dividend FY24

4.50c to be paid August 02, 2024

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Financial results and presentations

Financial results and presentations

H1 FY25 Results Update

"We continue to make good progress on our strategy to change Vodafone."

- Margherita Della Valle

Group service revenue growth (%)

Underpinning our transformation

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Customers

  • Delivering the simple and predictable experience our customers expect.
  • Getting the basics right and refocusing our resources towards improving customer experience.
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Customers

Investing in the turnaround of Germany

  • Invest in the customer experience, brand and seeing improved commercial performance.
  • Continue to upgrade our award-winning cable network and now market the largest Gigabit footprint.
  • Halfway through the execution of 3,100 role reduction plan.

Vodafone Business capabilities

  • Supported by Microsoft, Google & Mastercard partnerships.
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Simplicity

  • Become a simple and faster business.
  • Simplify our operations and executing on our cost programmes to improve profitability.
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Simplicity

Efficiency via simplification of shared operations & AI

  • Our commercial shared operations are now operational, with Accenture investing its first tranche of its €150 million commitment.
  • Rolling out our new AI-driven digital assistants to our agents, and directly to our customers with our Super Tobi chatbot. Our AI adoption is supported by our strategic partnerships with Microsoft & Google.
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Growth

  • Right-sizing the portfolio for growth
  • Significant opportunity to grow in:
    • Business
    • Africa
    • Vodafone Investments
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Growth

Portfolio actions

  • UK: completion expected in early 2025.
  • Italy: completion expected in early 2025. 
  • Romania: signed MoU for potential acquisition.

Vodafone Investments

  • Vantage Towers: sale of a further 10% stake in Oak Holdings GmbH for €1.3 billion.
  • Indus Towers: 18% stake sale with €1.7bn gross proceeds, used to substantially repay existing lenders in India.

Europe & Africa service revenue growth (%)

Vodafone Q1 FY25 Trading Update

"Our performance in the first quarter is consistent with our full year guidance, which we reiterate today."

- Margherita Della Valle

Europe & Africa service revenue growth (%)

FY24 Management Interview

Beyond our progress on our strategic priorities, I am pleased with the financial results we have delivered, having slightly exceeded our guidance for the year.

- Margherita Della Valle

Group service revenue growth (%)

Transformation gaining momentum

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Customers

  • Delivering the simple and predictable experience our customers expect.
  • Getting the basics right and refocusing our resources towards improving customer experience.
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Customers

  • Wide-reaching customer experience transformation underway, supported by additional investment, new incentives and talent development plans.
  • Customers insights processed through real-time AI models, feeding into detailed action plans.
  • Frontline tools and processes enhancements benefitting 70,000 team members.
  • Significant improvement in Germany fixed network reliability, recognised in four independent network quality tests.
  • Despite material price inflation, customer detractors have reduced across all segments.
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Simplicity

  • Become a simple and faster business.
  • Simplify our operations and executing on our cost programmes to improve profitability.
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Simplicity

  • New organisational structure and executive management team in place.
  • Completed first phase of commercialising shared operations, enabling greater transparency, productivity and flexibility.
  • Actioned 5,0001 role reductions and announced a further 2,000 in first year of 3-year 11,0001 plan and continued to deliver opex efficiencies.
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Growth

  • Right-sizing the portfolio for growth
  • Significant opportunity to grow in:
    • Business
    • Africa
    • Vodafone Investments
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Growth

  • Reshaped European footprint focused on growing telecommunications markets, with strong positions and good local scale.
  • Vodafone now growing in all segments and accelerating throughout the year.
  • Accelerated organic service revenue growth of Vodafone Business to 5.4% in Q4; B2B focus step-up with new organisation, sales transformation plan, investment in products and capabilities and strategic partnership with Microsoft.

Europe & Africa service revenue growth (%)

Q3 FY24 Presentation

I am pleased to report that we have sustained Group service revenue growth into Q3 with 14 out of 17 markets growing and we are reiterating our financial guidance for the year.

- Margherita Della Valle

Group service revenue growth (%)

Our transformation plan in motion

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Customers

  • NPS and detractor scores are improving across all markets.
  • Vodafone Business achieved a 5% growth rate in the quarter, driven by strong performance in digital services and the IoT sector.
  • In Africa, financial services in Egypt saw a significant customer increase of over 55% to 7.5 million, supported by Vodacom's capabilities.
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Customers

We need to deliver to our customers the simple and predictable experience they expect such as seamless connections, upgrades, all service interactions. We’re making these basics our focus.

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Simplicity

  • Over a third of the planned 11,000 role reductions have already been completed as part of efforts to simplify the business.
  • Continuing efforts to downsize the portfolio, with progress in approvals for the sale of operations in Spain and the merger in the UK.
  • Actively exploring options for Vodafone Italy, focusing on outcomes that maximize shareholder value.
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Simplicity

We need to step up the speed and decisiveness of our execution. We will do so by freeing up time and resources to focus on our commercial competitiveness by reducing internal complexity.

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Growth

  • Group service revenue growth sustained into Q3 with 14 out of 17 markets showing growth; financial guidance for the year reiterated.
  • In Germany, the largest market, service revenue met expectations.
  • Improved commercial momentum in both Fixed and Mobile services.
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Growth

We need to change our organisation and focus our resources on a portfolio of segments, products and geographies that is right sized for growth and returns over time.

Europe & Africa service revenue growth (%)

H1 FY24 Management Interview

My priorities are to focus on our customers, become a simpler business and accelerate growth. To set us on this path we have taken significant actions over the last six months.

- Margherita Della Valle

Group service revenue growth (%)

Our transformation plan in motion

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Customers

Transformation underway
  • Improving overall customer experience
    • Group wide focus
    • Tariff simplification
    • Improving in home WiFi
  • Driving improving Consumer NPS
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Customers

We need to deliver to our customers the simple and predictable experience they expect such as seamless connections, upgrades, all service interactions. We’re making these basics our focus.

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Simplicity

Re-engineering Germany commercial position
  • Fixed
    • Improving network quality
    • Successfully executing price actions
  • Mobile
    • Launching new propositions
    • Optimising sales channels
  • TV
    • Managing transition impact
    • Enhancing TV proposition
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Simplicity

We need to step up the speed and decisiveness of our execution. We will do so by freeing up time and resources to focus on our commercial competitiveness by reducing internal complexity.

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Growth

Accelerated resource reallocation
  • €1bn efficiency programme
  • New simplification initiatives
  • New customer investment
  • Energy & extra inflation
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Growth

We need to change our organisation and focus our resources on a portfolio of segments, products and geographies that is right sized for growth and returns over time.

Europe & Africa service revenue growth (%)

Date Title Report Presentation Video Q&A Spreadsheet Transcript
Nov 12 2024 H1
Sep 13 2024 Response to CMA provisional findings
Aug 30 2024 Cyber Security Factsheet 2024
Jul 30 2024 Simplified Vodafone holding structure
Jul 25 2024 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
Jun 17 2024 Form 20-F
May 24 2024 iXBRL Filing
May 24 2024 ESG Addendum and methodology
May 24 2024 2024 Summary
May 24 2024 Annual report
May 24 2024 Simplified Vodafone holding structure
May 14 2024 Full Year
May 07 2024 Change in reporting
Mar 15 2024 Vodafone investor update
Feb 05 2024 Q3
Nov 14 2023 H1
Jul 24 2023 Q1
Jun 14 2023 Merger of Vodafone UK and Three UK
Date Title Report Presentation Video Q&A Spreadsheet Transcript
Jun 23 2023 Cyber Security Factsheet
Jun 22 2023 Form 20-F
May 26 2023 iXBRL Filing
May 26 2023 TCFD
May 26 2023 ESG Addendum
May 26 2023 2023 Summary
May 26 2023 Annual Report
May 26 2023 Accessible Annual Report
May 22 2023 Simplified Vodafone holding structure
May 16 2023 Full Year
Apr 18 2023 Social Contract
Feb 01 2023 Q3
Nov 15 2022 H1
Nov 09 2022 Vantage Towers Transaction
Jul 25 2022 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
Jun 17 2022 Form 20-F
May 27 2022 iXBRL Filing
May 27 2022 2022 Summary
May 27 2022 Annual Report
May 27 2022 ESG Addendum
May 27 2022 TCFD
May 17 2022 Full Year
Mar 31 2022 Simplified Vodafone holding structure
Feb 02 2022 Q3
Nov 16 2021 H1
Sep 29 2021 Digital Services & Experiences
Jul 23 2021 Q1
Jul 22 2021 Change in segmental reporting
Jun 17 2021 Vodafone Technology
Date Title Report Presentation Video Q&A Spreadsheet Transcript
Jun 23 2021 Form 20-F
May 28 2021 2021 Summary
May 28 2021 Annual Report
May 28 2021 TCFD
May 28 2021 ESG Addendum
May 18 2021 Full Year
Mar 18 2021 Vodafone Business
Feb 03 2021 Q3
Nov 16 2020 H1
Jul 24 2020 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 12 2020 Full Year
Mar 31 2020 Form 20-F
Mar 31 2020 Annual Report
Feb 05 2020 Q3
Nov 26 2019 ESG Day
Nov 12 2019 H1
Sep 10 2019 Digital First Vodafone
Jul 26 2019 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 14 2019 Full Year
Mar 31 2019 Form 20-F
Mar 31 2019 Annual Report
Mar 14 2019 VodafoneZiggo Open Office
Jan 25 2019 Q3
Nov 13 2018 H1
Aug 30 2018 TPG & VHA Merger
Jul 25 2018 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 15 2018 Full Year
May 09 2018 Liberty Germany & CEE acquisition
Mar 31 2018 Form 20-F
Mar 31 2018 Annual Report
Feb 01 2018 Q3
Nov 14 2017 H1
Sep 19 2017 Fixed & Convergence Site visit materials
Sep 19 2017 Fixed & Convergence Open Office
Sep 11 2017 German Gigabit Investment
Jul 21 2017 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 16 2017 Full Year
Mar 31 2017 Form 20-F
Mar 31 2017 Annual Report
Mar 01 2017 Vodafone Idea Merger
Feb 02 2017 Q3
Nov 15 2016 H1
Sep 29 2016 Germany Open Office
Jul 22 2016 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 17 2016 Full Year
Mar 31 2016 Form 20-F
Mar 31 2016 Annual Report
Feb 04 2016 Q3
Nov 10 2015 H1
Jul 24 2015 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 19 2015 Full Year
Mar 31 2015 Form 20-F
Mar 31 2015 Annual Report
Feb 05 2015 Q3
Nov 11 2014 H1
Jul 25 2014 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 20 2014 Full Year
Mar 31 2014 Annual Report
Mar 31 2014 Form 20-F
Mar 17 2014 Ono acquisition
Feb 06 2014 Q3
Nov 12 2013 H1
Sep 02 2013 VZW stake sale
Jul 30 2013 KDG public takeover offer
Jul 19 2013 Q1
Jun 24 2013 KDG acquisition
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 21 2013 Full Year
Mar 31 2013 Form 20-F
Mar 31 2013 Annual Report
Feb 07 2013 Q3
Nov 13 2012 H1
Jul 20 2012 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 22 2012 Full Year
Mar 31 2012 Form 20-F
Mar 31 2012 Annual Report
Feb 09 2012 Q3
Nov 08 2011 H1
Jul 22 2011 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 17 2011 Full Year
Mar 31 2011 Form 20-F
Mar 31 2011 Annual Report
Feb 03 2011 Q3
Nov 09 2010 H1
Jul 23 2010 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 18 2010 Full Year
Mar 31 2010 Form 20-F
Mar 31 2010 Annual Report
Feb 04 2010 Q3
Nov 10 2009 H1
Jul 24 2009 Q1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 19 2009 Full Year
Mar 31 2009 Form 20-F
Mar 31 2009 Annual Report
Feb 03 2009 Q3
Nov 11 2008 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 27 2008 Full Year
Mar 31 2008 Form 20-F
Nov 13 2007 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 29 2007 Full Year
Nov 14 2006 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 30 2006 Full Year
Nov 15 2005 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 24 2005 Full Year
Nov 16 2004 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 25 2004 Full Year
Nov 18 2003 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 27 2003 Full Year
Nov 12 2002 H1
Date Title Report Presentation Video Q&A Spreadsheet Transcript
May 27 2002 Full Year
Date Title Report Presentation Video Q&A Spreadsheet Transcript
Mar 31 2001 Full Year