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Tuesday, May 18, 2010

Vodafone announces annual results

VodafoneVodafone has announced its annual results for the year ending 31st March 2010. Group revenue increased by 8.4% to £44.5 billion, with service revenue increasing by 8.9% to £41.7 billion. Group EBITDA was £14.7 billion, up 1.7%, and adjusted operating profit was £11.5 billion. European service revenue dropped 3.5% to £28.3 billion.

The company's proportionate mobile customer base is now 341 million, having seen 8.5 million net additions during Q4. Data revenue exceeded £4 billion, up 19.3%, with over 50 million customers now using data.

UK figures weren't as good; revenue was down overall, although messaging and data revenues were up, and customer numbers fell by 97,000.

Vodafone CEO Vittorio Colao said "Vodafone’s financial results exceeded our upgraded guidance on all measures. Revenue trends have improved again in Q4 driven by growth in mobile data and fixed broadband. Cost reduction targets were delivered ahead of schedule enabling commercial reinvestment to improve market share and further strengthen our technology platforms. Free cash flow of £7.2 billion and confidence in Vodafone’s prospects have enabled us to increase dividends by 7% and to target 7% per annum growth in total dividends per share for the next three years. We are creating a stronger Vodafone, which is positioned to return to revenue growth during the 2011 financial year, as economic recovery should benefit our key markets."

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Author: The Fonecast
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