LONDON (dpa-AFX) - Vodafone Group Plc (VOD.L) Thursday announced new financial targets for the UK, including annual cost savings of £1 billion by fiscal 2032.
By 2030, the company now expects annual cost savings of £800 million, up from £700 million expected earlier.
The company targets adjusted EBITDAaL growth at a mid-to-high single-digit CAGR from fiscal 2025 to fiscal 2032 and operating free cash flow growth of more than threefold versus fiscal 2025.
Vodafone also expects return on capital employed to exceed its cost of capital by fiscal 2032 and be materially above it by fiscal 2034.
'After a strong start, we now have even greater confidence in the opportunity ahead. That's why we are upgrading our cost target to £1 billion, with VodafoneThree set to become an increasingly important contributor to Vodafone's growth ambitions,' Margherita Della Valle, Group Chief Executive.
On the LSE, Vodafone shares closed up 2.12% at 127.75p on Wednesday.
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