Vodafone Group’s revenue increased by 14.3% for the quarter ended 31-December-2009, including favourable exchange rate movements of 12.8 percentage points and a2.5 percentage point benefit from merger and acquisition activity, primarily in India.
On an organic basis, revenue and service revenue declined by 1.0% and 0.3%, respectively, with Europe’s decline partially offset by Asia Pacific & Middle East and Africa & Central Europe. Pro forma service revenue growth was 1.4% including India and assuming constant exchange rates.
Vodafone said that although current economic environment is challenging, pro forma growth remains positive albeit slower than the previous quarter reflecting the benefit of the Group’s breadth of customer base and geographic diversity.
Some highlights for the quarter:
- Revenue of £10,470 million, up 14.3%
- Pro forma service revenue growth including India of 1.4%
- Group data revenue of £786 million, up 25.3% on an organic basis
- Proportionate mobile customer base of 289.0 million at 31 December 2008, up 9.5 million in the quarter
- Europe: Service revenue up 15.0%, driven by strong foreign exchange
- Organic service revenue down 1.4%; trends broadly similar to second quarter in a weaker market environment
- Solid results in Germany and Italy and stabilized results in the UK offset continuing weakness in Spain
- Africa & Central Europe: Service revenue up 6.1%
- Continued good growth in Vodacom offset by Turkey
- Asia Pacific & Middle East: Service revenue up 27.9%
- Record customer growth in India; service revenue growth of 29.6% at constant exchange rates
- Verizon Wireless: Service revenue up 12.2%; data revenue up 49.4%, both in local currency
- Alltel acquisition completed on 9 January 2009
- Early progress on all objectives, including £1 billion cost saving
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