Vodafone Group records 3.3% organic rise in service revenue in Q1 FY22

23 Jul 2021

UK-based telecoms giant Vodafone Group has reported organic group service revenue growth of 3.3% for the three-month period ended 30 June 2021, noting improvements across both the consumer and business segments. In the first quarter of the group’s current fiscal year (ending 31 March 2022), the company generated service revenues totalling EUR9.390 billion (USD11.07 billion), with its Vodafone Germany business accounting for more than 30% of the total – EUR2.872 billion, up marginally from EUR2.840 million in Q1 FY21. Mobile service revenue represented the largest portion of total service revenues, standing at EUR6.291 billion in the period under review, up from EUR6.055 billion a year earlier, while sales derived from fixed services was EUR3.099 billion (Q1 FY21: EUR3.055 billion). Meanwhile, total turnover was up by 5.6% year-on-year in organic terms, at EUR11.101 billion, with the company attributing this to service revenue growth in both Europe and Africa, as well as ‘a recovery in handset sales following COVID-19 disruption in the prior year’.

With regards to operational data, Vodafone Group reported a mobile subscriber base totalling 272.401 million as of 30 June 2021, up from 261.344 million a year earlier, while the group’s fixed broadband accesses rose by 3.1% y-o-y, to 24.575 million. Offering up some regional highlights, it claimed to now be a ‘leading converged connectivity provider’ in Europe, with 7.9 million converged customers and 142 million marketable NGN broadband homes in the region. Moreover, Vodafone said it now covered 98% of the population with 4G in the European markets it which it operates, while noting that it has launched 5G in 243 cities across ten markets. In Africa, meanwhile, Vodafone Group claims to now cover 67% of the population with its 4G signal in the markets in which it operates there.

Commenting on the company’s performance, Vodafone Group CEO Nick Read was cited as saying: ‘I am pleased to report that we are back to service revenue growth in Europe, as well as Africa. This growth was broad based within both Consumer and Business segments, with the vast majority of our markets contributing. This is a result of our commercial and operating momentum built over the past three years as part of our strategic transformation.’

United Kingdom, Vodafone Germany, Vodafone Group