BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Vodafone Group Plc reported that its first-quarter operating profit decreased by 34.3% to 1.0 billion euros, primarily due to higher other income in the prior year arising from the sale of stake in Indus Towers. Adjusted EBITDAaL was up 4.9% on an organic basis to 2.7 billion euros, as service revenue growth in most markets was partially offset by the impact of the TV law change in Germany and continued commercial investments. Adjusted EBITDAaL margin was 29.3%, 0.2 percentage points higher year-over-year on an organic basis.
First quarter Group total revenue increased by 3.9% to 9.4 billion euros, with strong service revenue growth. Revenue growth was also impacted by the consolidation of Three UK, offset by foreign exchange movements. Group service revenue was up 5.3% to 7.9 billion euros, with higher revenue from the consolidation of Three UK offset by foreign exchange movements. On an organic basis, service revenue increased 5.5%.
Vodafone Group Plc reiterated its Group fiscal 2026 guidance including impact of UK merger.
'We have had a good start to the year with strong revenue and EBITDAaL growth. Germany has started its improvement trajectory and our emerging markets are delivering strong broad-based growth. In the UK, we have completed the merger with Three and are moving quickly to combine our networks to benefit customers,' said Margherita Della Valle, Group Chief Executive.
Vodafone Group Plc also announced that it will commence a share repurchase programme of ordinary shares in the share capital of Vodafone of $0.20 20/21 each up to a maximum consideration of 500 million euros. Vodafone has given a non-discretionary instruction to Goldman Sachs in relation to the purchase by GSI, acting as riskless principal during the period commencing on 24 July 2025 and ending no later than 10 November 2025, of ordinary shares for a target expense amount of no greater than 500 million euros and the simultaneous on-sale of such ordinary shares by GSI to Vodafone.
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