**Summary**
Vodafone Group Plcs FY26 preliminary results highlight a successful transformation, with a focus on simplification, stronger growth, and improved financial performance. Key achievements include
**Financial Performance** Total revenue increased by 8.0% to €40.5 billion, driven by strong service revenue growth and the consolidation of Three UK. Service revenue grew by 8.8% to €33.5 billion, with organic growth of 5.4%. Adjusted EBITDAaL increased by 3.8% to €11.4 billion, and operating profit rose significantly to €2.8 billion.
**Strategic Progress** Vodafone has simplified its structure, organized around four operating divisions (Europe, Africa, Business, and Investments), and strengthened its growth outlook. The company has reset its capital structure, returned €9 billion to shareholders, and achieved sustainable pricing models in more markets.
**Portfolio Transformation** Vodafone completed the merger of Vodafone UK and Three UK, creating the largest mobile network operator in the UK. It also acquired Telekom Romania Mobile Communications S.A. and increased its stake in Safaricom Plc, Kenyas leading telecom operator.
**Growth Outlook** Vodafone aims for mid-term growth, targeting double-digit Adjusted free cash flow growth. The company expects Adjusted EBITDAaL of €11.9-€12.2 billion and Adjusted free cash flow of €2.6-€2.9 billion in FY27.
**Shareholder Returns** Vodafone maintained its progressive dividend policy, increasing the final dividend per share by 2.5%. The company also completed a €0.5 billion share buyback program.
Vodafones strategic focus on customers, simplicity, and growth has positioned it for continued success, with a diversified portfolio and a commitment to driving attractive returns for shareholders.
| Financial Metric | FY25 | FY26 | Year-on-Year Change |
|---|---|---|---|
| Total Revenue (€ billion) | 37.4 | 40.5 | +8.0% |
| Service Revenue (€ billion) | 30.8 | 33.5 | +8.8% |
| Adjusted EBITDAaL (€ billion) | 10.9 | 11.4 | +3.8% |
| Operating Profit (€ billion) | -0.4 | 2.8 | +€3.2 billion |
| Net Debt (€ billion) | 22.4 | 25.4 | +13.5% |
| Adjusted Free Cash Flow (€ billion) | 2.5 | 2.6 | +2.9% |
| Dividends per Share (eurocents) | 4.5 | 4.6125 | +2.5% |