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May 19, 2015

Vodafone sees revenue rise and return to growth

Telecoms operator claims "a year of continued progress."

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Vodafone has reported its financial results for Q4 and the full-year, showing a year-on-year rise in revenue.

The telecoms operator saw revenues for the full-year of £42.227 billion, a reported rise of 10.1 percent. In Q4 Vodafone saw revenues of £10.594 billion, a year-on-year rise from £9.698 billion.

Profits for the full-year were £1,967 billion.

Vodafone also saw a return to growth in Q4, with organic service revenue rising 0.1 percent.

Much of the growth was seen in emerging markets, with India, Turkey and Egypt showing service revenue growth of 12.6 percent, 9.4 percent and 2.8 percent respectively. Organic service revenue in Europe declined 4.7 percent year-on-year. Data growth totalled 80 percent for the full year.

"It has been a year of continued progress, culminating with a return to organic growth in Q4. We have seen increasing signs of stabilisation in many of our European markets, supported by improvements in our commercial execution and very strong demand for data.

"In fixed line, revenue trends are improving supported by accelerating customer growth, and our recent cable acquisitions provide a strong platform for further growth. In emerging markets, our good growth trend has continued, driven by rising data penetration and leading network quality and distribution.

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"Our Project Spring investment programme is on plan, delivering a significantly improved experience to customers. In Europe, 4G coverage now extends to over 70% of our footprint, and voice quality and reliability have improved noticeably. We now reach 28 million homes with our own, next generation cable and fibre networks. In India, our 3G footprint now reaches 90% of target areas, with 3G data revenue up 125% year-on-year in Q4.

"We have significant opportunities ahead of us, with only 13% of our European mobile customers using 4G, and our market share in fixed services only a fraction of our share in mobile. In addition, businesses around the world are increasingly looking to put mobility at the centre of their own strategies.

He concluded: "With the assets and skills we have today, further enhanced by the completion of Project Spring, we will be strongly positioned to provide ever improving services to customers and seize these opportunities."

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