Introduction
Margherita Della Valle
Hello everyone.
Vodafone Group, CEO
For the last few years, we’ve talked a lot about change at Vodafone.
As you know, we’ve reshaped our portfolio to operate at scale, with strong positions in every market.
And we’ve fundamentally changed how we operate.
Today, this transformation is providing a strong foundation for our growth chapter as you’ve seen in our results.
Our focus remains clear: deliver a better experience for customers, simplify our business, and drive sustainable growth.
And in the first half of FY27, it is clear from our results today that we continue to make good progress across all three priorities.
While I’m very pleased with our overall performance, our financial performance in Germany over the last few years has been disappointing. But we have not stood still.
Beneath the headline numbers, we’re seeing clear progress, including consistent growth in important areas of our business such as consumer broadband and B2B.
We know what we need to do, and we’re taking further steps to move faster in delivering a market leading customer experience and in simplifying our operations.
Across the Group, we have made a strong start to Vodafone’s new growth chapter.
After the first quarter, we said we were tracking towards the upper end of our guidance. And today, with the momentum we are seeing across the business, we are upgrading Group guidance for both profit and cash flow for the year.
At the mid-point of our new guidance range, this would represent more than 20% growth in Adjusted Free Cash Flow this year, a strong start to our multi-year double-digit cash flow growth ambition.
Which takes me to our financial performance. Pilar, could you provide a summary of the highlights from the first half of the year?
Powered by FlippingBook