LONDON (ShareCast) - (Sharecast News) - Vodafone Group reported full-year results in line with expectations on Tuesday, as it confirmed its financial guidance and unveiled a new €2bn share buyback after completing a similar-sized programme.
Total revenue rose 2% to €37.4bn, driven by organic service revenue growth of 5.1%, despite adverse currency movements and a decline in Germany, where service revenue fell 5% due to regulatory changes and market competition.

Service revenue growth was supported by strong performances in Africa, up 11.3% organically, and Turkey, which grew 83.4% organically.

The FTSE 100 telecoms giant said the UK saw a 1.9% organic increase, while 'other Europe' posted 2.1% growth.

Adjusted EBITDAaL rose 2.5% organically to €10.9bn, although a €4.5bn impairment charge related to Germany and Romania resulted in a €0.4bn operating loss.

Vodafone highlighted its ongoing transformation, having disposed of its Spanish and Italian units and expecting to complete its UK merger with Three in the first half of 2025.

The reshaped portfolio was now weighted towards higher-growth markets, which generate two-thirds of adjusted free cash flow.

Total shareholder returns for the year amounted to €3.7bn, including dividends of 4.5 eurocents per share, down from nine eurocents in the 2024 financial year.

"Since I set out my plans to transform Vodafone two years ago, Vodafone has changed," said group chief executive officer Margherita Della Valle.

"We have reshaped Europe, we are seeing the positive impact of our drive for customer satisfaction in all our markets - most noticeably in the UK and Germany - and we have delivered strong operational improvements across the business.

"Clearly there is much more to do, but this period of transition has repositioned Vodafone for multi-year growth."

Looking ahead, Della Valle said the company expected to see broad-based momentum across Europe and Africa, and for Germany to return to top-line growth during the year.

"This is reflected in our guidance for profit and cash flow growth for the year ahead."

At 0824 BST, shares in Vodafone Group were up 0.77% at 73.02p.

Reporting by Josh White for Sharecast.com.

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