Vodafone Q1 Trading In Line With Its Expectations; Affirms 2021 Adj. EBITDA Outlook

(RTTNews) - Vodafone Group Plc (VOD.L) reported first quarter total revenue of 10.51 billion euros, compared to 10.65 billion euros, previous year. Total revenue declined 2.8% on an organic basis. Total service revenue was 9.11 billion euros, compared to 8.99 billion euros. Organic service revenue was down 1.3%, for the quarter. The Group noted that COVID-19 crisis had a significant impact on service revenue in its first quarter.

Nick Read, Group Chief Executive, said: "Our trading performance in the first quarter demonstrates the relative resilience of our operating model and focused delivery of our strategic priorities. Whilst we have seen the direct impact on our revenue from travel restrictions and business project delays, we have also seen increased usage in voice and data, alongside record NGN broadband customer net additions in Europe."

For fiscal 2021, the Group's adjusted EBITDA outlook unchanged - remains 'flat to slightly down'. Vodafone Group reiterated its fiscal 2021 guidance for at least 5.0 billion euros of free cash flow (pre-spectrum).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More