Vodafone Business ⫶ Continued strong demand for digital services
Financial performance
+2.9% Q2 Service revenue growth
Unique digital capabilities
+12.2% Q2 digital services 1 revenue growth
Market performance
5.0m Business Customers
• Service revenue growth supported by strong demand for digital services • Quarterly slowdown driven by: − higher IoT revenue in Q1 in Germany − public sector project phasing in Other Europe − lower inflation in Türkiye
• Digital services now represent 25.7% of total B2B Service Revenue (+2.1pp YoY) • Strong double-digit growth in SaaS 2 , SD-WAN & IoT • 223 million IoT platform connections (14.8% YoY) • Binding agreement to acquire Skaylink, a leading cloud & digital transformation provider in Europe
• Germany (Q2: -1.6% YoY) due to ARPU pressure from mobile contract renewals • UK (Q2: -1.7% YoY) driven by planned managed services contract terminations • Other Europe (Q2: -1.4% YoY) as digital services demand offset by project phasing in Greece & Romania • South Africa (Q2: +2.7% YoY) supported by strong digital services performance
Business service revenue growth (%)
Digital services 1 revenue growth (%)
Digital Services as a % of Total B2B Service revenue
Q2 FY25
Q2 FY26
17.9%
16.1%
15.1%
5.1%
14.5%
4.3%
12.2%
4.0%
4.0%
2.9%
+2.0pp
+2.6pp
-1.1p
+2.8pp
3
DE
UK
OEU
SA
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
H1 FY26 Results ⫶ November 2025
1. Digital services include IoT, Cloud & Security services; and from Q1 FY26 also include SDN & Digital Communication. Solutions. Q1 FY26 growth rate has been restated to reflect a reclassification of digital services product in the UK. 2. SaaS = Software as a Service. 3. Albania, Czech Republic, Greece, Ireland, Portugal and Romania.
11
Powered by FlippingBook