Vodafone Registers 5% Revenue Growth in 1H

By Benzinga
Benzinga
Benzinga
November 16, 2021 Updated: November 16, 2021

Vodafone Group PLC reported the first half FY22 revenue growth of 5.0 percent year-on-year to €22.5 billion, mainly driven by service revenue growth in Europe and Africa.

The service revenue grew 2.8 percent Y/Y to €19 billion.

Adjusted EBITDAaL grew 6.5 percent to €7.6 billion. The margin expanded 70 bps to 33.6 percent.

The adjusted basic EPS was €0.049.

The interim dividend per share was €0.045.

Vodafone generated €6.5 billion in operating cash flow. Adjusted free cash flow was €23 million.

“The results show we have demonstrated good sustainable growth and solid commercial momentum,” CEO Nick Read said. Our strengthened performance in Africa and Europe puts us on track to be at the top end of our guidance for this year, as well as firmly within our medium-term financial ambitions.

Outlook

Vodafone narrowed the FY22 Adjusted EBITDAaL guidance to €15.2 billion – €15.4 billion (from €15.0 billion – €15.4 billion).

Vodafone upgraded the Adjusted free cash flow to at least €5.3 billion (from at least €5.2 billion)

Price Action

VOD shares traded higher by 5.59 percent at $16.24 in the premarket session on the last check Tuesday.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.


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