Vodafone loses 346 million in its first fiscal semester

MADRID, 14 Nov.

Vodafone loses 346 million in its first fiscal semester


The British telephone operator Vodafone recorded losses for a net attributable amount of 346 million euros in the first six months of its fiscal year, in contrast to profits of 945 million in the same period of the previous year, the multinational reported.

Vodafone's turnover between April and September reached 21,937 million euros, 4.3% below the income recorded in the first half of last year due to adverse movements in exchange rates and the sale of Vantage Towers, Vodafone Hungary and Vodafone Ghana in the previous year.

For its part, revenue from services decreased by 3% in the semester, to 18,618 million, although in organic terms, excluding the effect of the exchange rate and variations in the company's accounting perimeter, they increased by 4.2%.

Specifically, Vodafone's semi-annual service revenue decreased by 0.11% in Germany, to 5,722 million euros and by 1.3% in Italy, to 2,098 million, as well as 2.9% in Spain, with 1,731 million. and 7.3% in the rest of Europe, while they increased by 4.1% in the United Kingdom, up to 2,822 million.

Likewise, Vodacom's services business registered a drop of 14.6% in the semester, to 2,924 million euros.

For its part, Vodafone's net debt at the end of the semester was 36,240 million euros, which represents an improvement of 20.4% compared to the previous year.

"During the first half of the year, we have achieved better revenue growth in almost all our markets and we have returned to growth in Germany in the second quarter," said Margherita Della Valle, CEO of Vodafone, who highlighted the announcement of the departure of the operator "from the challenging Spanish market" to adjust the size of its portfolio.

Looking ahead to the current fiscal year as a whole, Vodafone has confirmed its forecast that adjusted gross operating profit before rentals (EBITDAaL) will be "broadly stable" at around €13.3 billion and adjusted free cash flow will be "around" 3.3 billion euros.