Transformation and Restructuring Success
Vodafone has undergone significant transformation, including the sale of operations in Spain and Italy, and the merger with Three U.K. This has led to a simplified structure, improved customer experience, and a €2 billion return to shareholders through buybacks and dividends.
Strong U.K. Performance
The U.K. segment reported strong EBITDA growth of 8%, with record low customer churn and market-leading Net Promoter Scores (NPS) in both mobile and fixed broadband.
Positive Outlook in Africa and Turkey
Vodafone's operations in Africa and Turkey have strong local positions and growth opportunities, contributing significantly to free cash flow growth in euros.
Guidance for FY '26
Vodafone expects adjusted EBITDAaL for FY '26 to be between €11 billion and €11.3 billion, with adjusted free cash flow growth accelerating to between €2.6 billion and €2.8 billion.