Vodafone Group Plc Files H1 FY25 Results

TL;DR

Vodafone dropped H1 FY25 results on 11/12/24. Form 6-K filed.

AI Summary

Vodafone Group Plc announced its H1 FY25 results on November 12, 2024. The company, headquartered in Newbury, Berkshire, England, is a foreign private issuer filing a Form 6-K report. This filing is made pursuant to rules 13a-16 or 15d-16 under the Securities Exchange Act of 1934.

Why It Matters

This filing provides investors with crucial financial updates for Vodafone Group Plc for the first half of fiscal year 2025, impacting investment decisions and market sentiment.

Risk Assessment

Risk Level: low — This is a routine financial results filing and does not contain significant new risks.

Key Players & Entities

• VODAFONE GROUP PUBLIC LTD CO (company) — Filer
• VODAFONE HOUSE, THE CONNECTION, NEWBURY, BERKSHIRE, RG14 2FN, ENGLAND (company) — Principal executive offices
• November 12, 2024 (date) — Filing date

FAQ

Filing Documents

• a7935l.htm (6-K) — 1647KB
• 0001654954-24-014102.txt ( ) — 1648KB

From the Filing

GROUP H1 FY25 RESULTS a7935l       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   Form 6-K   REPORT OF FOREIGN PRIVATE ISSUER   PURSUANT TO RULES 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Dated November 12, 2024   Commission File Number: 001-10086   VODAFONE GROUP PUBLIC LIMITED COMPANY (Translation of registrant’s name into English)     VODAFONE HOUSE, THE CONNECTION, NEWBURY, BERKSHIRE, RG14 2FN, ENGLAND (Address of principal executive offices)   Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.   Form 20-F ✓ Form 40-F _     This Report on Form 6-K contains a Stock Exchange Announcement dated 12 November 2024 entitled ‘Vodafone Group H1 FY25 Results’.     Vodafone Group Plc H1 FY25 Results 12 November 2024       Results in line with expectations and good operational progress "We continue to make good progress on our strategy to change Vodafone. The approval processes for our transactions in the UK and Italy are nearing conclusion. These will complete our programme to reshape the group for growth. We are also investing in Germany to strengthen our market position and taking steps to expand our B2B capabilities. As we move through this year of transition, our results in the first half have been consistent with our expectations and we are reiterating our full year guidance. We grew service revenue by 4.8% and Adjusted EBITDAaL by 3.8%. We delivered good performances across our markets, with the exception of Germany, where we have been impacted as expected by the TV law change. I am confident that the actions we are taking will deliver growth for Vodafone this year and a further acceleration into FY26." Margherita Della Valle Group Chief Executive     Financial highlights €5.4 billion cash proceeds 2.25 eurocents   Reiterated   Vodafone Spain & Vantage disposals Interim dividend per share FY25 financial guidance                         -  Total revenue:   Increased by 1.6% to €18.3 billion in H1   (FY24 H1: €18.0 billion)   as service revenue growth was partially offset by adverse foreign exchange movements. -  Service revenue:   On a reported basis grew by 1.7% to €15.1 billion in H1 (FY24 H1: €14.9 billion) and on an organic basis increased 4.8% in H1, with an anticipated slowdown in Germany offset by growth in Other Europe, Africa & Turkey.    -  Germany:   Declined by 6.2% in Q2 (Q1: -1.5%), as anticipated, primarily due to the impact of the MDU TV law change. Excluding this impact, service revenue in Germany declined by 2.4% in Q2 (Q1: -0.3%) due to a lower customer base following price increases in the prior year. As part of the MDU TV law change, we have now actively retained       4.0 million households, which is in line with our expectations.    -  Business:   Organic service revenue accelerated to 4.0% in Q2 (Q1: 2.6%),   supported by demand for digital services    -  Africa:   Organic growth remained consistent in Q2 at 9.7% (Q1: 10.0%), supported by price increases in South Africa and above-inflation growth in Egypt, driven by strong demand for data and financial services. -  Operating profit:   On a reported basis increased by 28.3% to €2.4 billion in H1 (FY24 H1: €1.9 billion), primarily driven by a €0.7 billion gain on the disposal of an 18% stake in Indus Towers. -  Adjusted EBITDAaL:   On an organic basis increased by 3.8% to €5.4 billion (FY24 H1: €5.4 billion), supported by service revenue growth and lower energy costs in Europe. -  Share buybacks:   Second €500 million tranche almost complete, with 1.2 billion shares repurchased for €1.0 billion by 11 November 2024. -  FY25 guidance reiterated :   Adjusted EBITDAaL of c.€11 billion and Adjusted free cash flow to be at least €2.4 billion.   Strategic highlights   -  Customers:   Customer experience transformation underway. Customer detractors have continued to reduce across all segments, and we have leading or co-leading net promotor scores ('NPS') in 9 out of 15 markets. -  Simplicity:   Our commercial shared operations business is now operational, with Accenture investing its first tranche of its €150 million commitment in October 2024. We are also progressing with the 3,100 role reductions announced in Germany. -  Growth:   Pre-tax ROCE increased from th

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