Vodafone Group said its revenue increased by 1.6 percent to €18.3 billion in the first-half of 2024.
Vodafone’s service revenue grew by 1.7 percent to €15.1 billion in H1 from €14.9 billion in FY24 H1.
Vodafone added 231,000 mobile contract customers across six markets, driven by Portugal and Greece. In Portugal, Vodafone added 67,000 contract customers in mobile and 12,000 in fixed broadband.
In Greece, the mobile contract base grew by 86,000, though fixed broadband customers declined by 10,000.
In Ireland, mobile contract customer base increased by 9,000 and the broadband customer base by 15,000.
Through fixed wholesale network access partnerships, including our fibre joint venture, SIRO, Vodafone now cover over 1.4 million households in Ireland with FTTH.
Vodafone Germany’s revenue fell by 4.4 percent to €6.1 billion as a result of lower service and equipment revenue. Vodafone Germany’s service revenue dropped 3.9 percent (Q1: –1.5 percent, Q2: –6.2 percent).
Fixed service revenue decreased by 5.9 percent (Q1: -2.0 percent, Q2: -9.7 percent) due to the impact of TV and broadband customer losses. Mobile service revenue decreased by 1.3 percent (Q1: -0.8 percent, Q2: -1.8 percent). Vodafone Business service revenue declined by 1.7 percent (Q1: -1.7 percent, Q2: -1.7 percent).
Vodafone Germany’s Broadband customers dropped by 88,000 (Q1: -55,000; Q2: -33,000), including the loss of 41,000 (Q1: -32,000; Q2: -9,000) customers on gigabitcapable network.
Consumer mobile contract customer base increased by 30,000. Vodafone Germany lost 35,000 business accounts, partly driven by some large contract tenders in the prior year. Vodafone Germany added 2.8 million IoT connections, driven by demand from the automotive sector.
Vodafone UK’s revenue rose 2.1 percent to €3.4 billion. Service revenue of Vodafone UK grew by 2.4 percent (Q1: 2.0 percent, Q2: 2.9 percent).
Vodafone UK’s mobile service revenue grew by 0.6 percent (Q1: 0.6 percent, Q2: 0.6 percent). Fixed service revenue grew by 7.9 percent (Q1: 6.1 percent, Q2: 9.6 percent). Vodafone UK’s Business service revenue decreased by 0.5 percent (Q1: -1.1 percent, Q2: 0.2 percent).
Vodafone UK’s contract customer base increased by 65,000 in the period, supported by customer experience improvements and Vodafone ‘EVO’ handset proposition, resulting in record low H1 churn. Contract customer base fell by 35,000 in H1.
Fixed broadband customer base of Vodafone UK increased by 94,000. Vodafone UK’s broadband has reached 17.3 million households. Vodafone UK offers up to 2.2Gbps speeds in more locations than any other provider.
Vodafone’s Other Europe revenue grew 4.7 percent to €2.8 billion due to higher service and equipment revenue. Service revenue increased by 1.9 percent (Q1: 1.6 percent, Q2: 2.1 percent).
Vodafone Turkey’s revenue increased by 23.3 percent to €1.4 billion.
It added 369,000 mobile contract customers during the first half of FY25, including migrations of prepaid customers.
Africa revenue increased by 3.2 percent to €3.7 billion due to higher service and equipment revenue.
In South Africa, Vodafone added 113,000 contract customers to reach 6.9 million. 78.1 percent of its mobile customers now use data services, an increase of 3.9 percentage points or 1.2 million. VodaPay super-app has 8.4 million registered users.
In Egypt, Vodafone added 326,000 contract customers and 1.2 million prepaid mobile customers during the period to reach 49.9 million customers. Vodafone Cash reached 9.6 million active users with 1.4 million users added during the period.
Vodacom’s international markets added 2 million mobile customers in H1 to reach 56.1 million, with 68.4 percent of active customers using data services. M-Pesa customer base has reached 23.8 million.
Vodafone Italy’s revenue fell 3.1 percent to €2.2 billion due to lower service revenue and equipment revenue.
Vodafone will sell Italy business to Swisscom AG for €8 billion upfront cash proceeds. Completion of the deal is expected to take place in early 2025.
Baburajan Kizhakedath
