Interim Management Statement for the Quarter ended 30 June 2010
Vodafone returns to organic revenue growth
A stronger Vodafone:
- Group service revenue returns to organic growth (+1.1%(*)); improving trends in all regions
- Europe: the UK (+0.7%(*)) and Germany (+0.2%(*)) return to service revenue growth
- Emerging markets: robust growth; improvement in India (+13.7%(*)); Turkey achieves record service revenue (+23.7%(*))
- Group data revenue £1.2 billion (+25.4%(*)). Commercial focus on data services generates faster growth than previous quarter
- Sustained FCF generation at £1.8 billion, supports capital investment and 7% p.a. dividend per share growth policy
- Full year outlook confirmed
Vittorio Colao, Chief Executive, commented
“These are the first quarterly results to show service revenue growth since the global recession impacted. We have achieved these results through our continuing commercial approach in key European markets, focusing especially on data, and from strong growth in emerging markets, with India now cash positive at an operating level and our highest ever quarterly revenue in Turkey. The financial outlook for the current year is confirmed.”
Notes:
(*) All amounts in this document marked with an “(*)” represent organic growth which presents performance on a comparable basis, both in terms of merger and acquisition activity and foreign exchange rates.
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