Vodafone (LSE:VOD) reported total revenue growth of 8% to €40.5 billion for FY26, supported by strong service revenue performance, the consolidation of Three UK operations and continued momentum across its African and Turkish businesses.
Service revenue increased 8.8% to €33.5 billion during the year, driven by double-digit growth in Africa and expanding digital services activity. The group also recorded modest growth across the UK and several European markets, while performance in Germany improved progressively and returned to growth during the fourth quarter after earlier weakness.
Adjusted EBITDAaL rose 3.8% to €11.4 billion, equivalent to 4.5% organic growth, while operating profit recovered to €2.8 billion compared with a loss in the prior year period. Vodafone also delivered adjusted EBITDAaL and free cash flow at the upper end of its guidance range.
The company continued to return capital to shareholders, completing a €2 billion share buyback programme and increasing its dividend payout.
Management said the group is entering a “new chapter” focused on a simplified operating structure, a strengthened balance sheet and improved customer experience. Strategic priorities also include cost efficiency initiatives and medium-term free cash flow growth.
Vodafone’s outlook reflects a combination of operational improvements and ongoing financial challenges. Positive technical momentum and constructive earnings guidance have supported investor sentiment, while concerns around valuation and broader financial performance remain factors to monitor. Strategic initiatives and recent corporate developments continue to provide additional support for the company’s longer-term growth profile.
More about Vodafone Group
Vodafone Group is an international telecommunications operator providing mobile, broadband, fixed-line and digital services across Europe, Africa and other global markets. The company operates through divisions covering Europe, Africa, Vodafone Business and Investments, with a focus on connectivity infrastructure, enterprise services, digital platforms and large-scale network operations.
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