Overview
- Vodafone disclosed Monday that Q1 service revenue rose to €8.6bn, up 10% year‑on‑year, and that adjusted EBITDA increased by 6.7%, prompting management to set full‑year adjusted‑earnings guidance at €13–13.3bn.
- The group said it has cut about 1,200 roles across Europe and in shared operations as part of a multi‑year cost plan that targets roughly £700m of annual savings by the 2030 financial year.
- Executives and analysts attributed much of the headline uplift to recent deal consolidation, including last year’s Three UK merger and Vodafone taking control of Safaricom, which was fully consolidated from July 1.
- UK trading showed strain from regulator action, with organic UK mobile service revenue down 0.7% in the quarter, a loss of 48,000 mobile contract customers, and a gain of about 34,000 broadband customers.
- A planned investor shift—Vega’s agreed purchase of e&’s c.16.2% stake—remains subject to regulatory clearance and could change Vodafone’s shareholder dynamics as the company completes network integration and restructurings.