Vodafone Group PLC

Vodafone Group PLC (LSE: VOD) is an FTSE 100 index listed telecommunications company across Europe and Africa. Our mission revolves around fostering connections for a brighter tomorrow, harnessing technology to enhance livelihoods, digitize pivotal sectors, and foster inclusive, sustainable digital communities. Delivering mobile and fixed services to a vast clientele of over 300 million individuals across 17 nations, we collaborate with mobile networks in an additional 46 countries.

H1 FY24 Interim Results (Released on 14 November 2023)

• Income Statement Update: The Group observed a service revenue growth of 4.2%, or 2.3% excluding Turkey. Both Europe and Africa experienced growth during this period. There was notable progress in Germany and continued advancement in Vodafone Business, achieving a growth of 4.4% in H1 FY24. However, the Group's revenue decreased by 4.3% to EUR 21.9 billion. Operating profit witnessed a decrease of 44.2% to EUR 1.7 billion. Despite a significant rise in energy costs, there was an adjusted EBITDAaL growth of 0.3%. The interim dividend per share stands at 4.5 eurocents, with a record date of 24 November 2023.
• Balance Sheet Update: The money generated from operating activities declined to EUR 5.5 billion, primarily due to reduced operating profit and unfavourable shifts in working capital, which countered the decrease in tax payments. Consequently, adjusted free cash flow decreased by EUR 1.0 billion, resulting in an outflow of EUR 1.5 billion during the period. The rise in net debt amounted to EUR 2.9 billion, reaching EUR 36.2 billion.
• Outlook: The adjusted EBITDAaL is expected to remain flat at around EUR 13.3 billion in FY24. The adjusted free cash flow is expected to be around EUR 3.3 billion.
• Strategic Update: A series of new initiatives introduced to improve customer service, which was achieved by the re-allocation of EUR 150 million of investment in this area. The company announced a merger of Vodafone UK and Three UK in June 2023. In October 2023, the company exited from the Spanish market through the sale of Vodafone Spain.

Share Price Chart

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Vodafone Group PLC (LSE: VOD) was trading at the current market price of GBX 74.63 (as on 17 November 2023, at 12:40 PM GMT) 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 17 November 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.