Vodafone’s main achievements in December quarter

Vodafone Group CEO Nick Read has revealed the company’s main achievements during the December quarter of 2019.
Vodafone 5G storeFirst, Vodafone Europe’s mobile contract churn fell for a fifth successive quarter, assisting the mobile operator in adding 0.51 million mobile contract customers.

Second, Vodafone Europe added over 0.4 million NGN broadband customers. Vodafone has also launched 5G service in seven European markets.

Third, Vodafone is the first in Europe to make Amazon Web Services ultra-low latency mobile edge computing available over 5G networks.

Fourth, Vodafone’s 3 million consumer customers are on simplified speed-tiered unlimited data plans.

Fifth, Vodafone is on track to achieve the €0.4 billion Opex reduction target in Europe for FY20.

Sixth, Vodafone has initiated talks on mobile network sharing with Deutsche Telekom in Germany and NOS in Portugal.

Seventh, Vodafone signed agreement for selling 55 percent stake in Vodafone Egypt for €2.2 billion, implying a September FY20 LTM multiple of 7.0x adjusted EBITDA. Vodafone also signed agreement to sell Vodafone Malta for €250 million.

Eighth, Vodafone reported revenue growth of 6.8 percent to €11,750 million during the Dec quarter.

“We have executed our commercial and strategic priorities. Competition in Europe remains challenging, primarily in the value segment, however we continued to improve customer loyalty and to grow in broadband, and we achieved good growth in Africa. We expect a further gradual improvement in service revenue growth in Q4, led by Europe,” Nick Read said.