What Vodafone achieved from Project Spring investment

Vodafone CEO Vittorio Colao
Telecom network operator Vodafone Group today updated the company’s Project Spring investment program and recent achievements.

The UK-based Vodafone Group has made an investment of £8.6 billion in fiscal 2016 against £9.2 billion in fiscal 2015 towards Capex (capital expenditure).

Vodafone has completed its £19 billion investment program in two years. Vodafone said the actual spend was modestly lower than originally forecast due to Capex synergies following the acquisition of Ono and favorable foreign exchange rate movements.

Vodafone revenue dropped 3 percent to £40,973 million, while service revenue fell 3.5 percent to £37,159 million. Vodafone Group posted £3,818 million loss during the fiscal 2016.

Vodafone achievements

# 46.8 million 4G customers
# 4G coverage 87 percent in Europe
# 72.5 million 3G data users in emerging markets
# 13.4 million broadband customers
# high speed broadband to 30 million on-net homes in Europe
# Data volumes up 71 percent in the year
# Enterprise revenue growth 2.1 percent in the year
# Vodafone Global Enterprise +5.9 percent
# 1.3 million new fixed broadband customers in the year
# added 43,000 new mobile sites
# installed 115,000 modernized single RAN base stations
# has 50,000 more 2G-enabled sites
# has 77,000 more 3G-enabled sites
# has 76,000 more 4G-enabled sites
# added 102,000 new backhaul links
# extended fiber coverage to 72 million homes

Vodafone Group CEO Vittorio Colao said: “We have concluded our Project Spring organic investment program. This has transformed the quality of our technology, enhancing our customers’ experience and enabling us to expand our Enterprise services.”

“We will continue to invest in our customer excellence programs in both mobile and converged services,” Vittorio Colao said.

Vodafone has a net debt £29.2 billion as at 31 March 2016 against £22.3 billion in fiscal 2015.

Vodafone Group announced the Project Spring investment plan in November 2013.

Vodafone Group said it expanded European 4G coverage to 87 percent of footprint, just below its target of 90 percent due to rollout delays primarily in the UK and Germany. 91 percent of data sessions are >3Mbps, ahead of its target of 90 percent.

In AMAP ex-India Vodafone built 3G population coverage to 85 percent, and in India 3G coverage in targeted urban areas is 95 percent.

Vodafone added 43,000 new mobile sites and installed 115,000 modernized single RAN base stations. Vodafone has 50,000 more 2G-enabled sites, 77,000 more 3G-enabled sites and 76,000 more 4G-enabled sites.

Vodafone added 102,000 new high capacity backhaul links, well ahead of its targets.

Vodafone extended fiber coverage to 72 million homes.

Vodafone offers Internet of Things (IoT) services in 30 countries. It offers IP-VPN services in 70 countries and cloud and hosting services in 12 countries.

“We expect that cloud-based technologies will be the key enablers of our strategy, delivering large cost savings and increased agility. We aim to be ready to lead the industry in 5G across Europe, while significantly expanding our 4G coverage in emerging markets,” Vittorio Colao said.

Baburajan K