Vodafone Eyes Growth as German Market Challenges Persist
Vodafone anticipates returning to growth in its largest market, Germany, this year. The company reported adjusted earnings of 10.9 billion euros, aligning with its expectations despite hyperinflation in Turkey. Restructuring efforts include sales in Spain and Italy and a merger in Britain, but challenges in German cable TV regulations impacted revenues.
Vodafone projects renewed growth in Germany, its largest market, in the coming year, following a successful fiscal year ending in March. The telecom giant expects this recovery to boost cash flow.
The company, operating in Europe and Africa, posted adjusted earnings of 10.9 billion euros, meeting its 11.0 billion euro target, factoring in Turkey's hyperinflation. CEO Margherita Della Valle has restructured Vodafone by divesting its Spanish and Italian operations and planning a merger in Britain, positioning it as the leading mobile provider there upon deal completion.
Despite these initiatives, Vodafone faced setbacks from changes in German cable TV contract rules, leading to a 5% drop in service revenue. The CEO remains optimistic about growth prospects across Europe and Africa, with Germany poised for improvement this year.
(With inputs from agencies.)
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