FY25 focus ⫶ a) Investing in Germany turnaround
MDU TV transition
Fixed • Upgrading our cable experience 1 : - Node-splitting delivering 30% additional upstream segments nationwide - 3m CPEs & ‘SuperWiFi’ customer upgrades - improving in-home experience - Leading in independent network tests • 33% detractors reduction 1 achieved despite price increase • New customer value management processes from Q2 • Off-footprint fibre wholesale from H2 • Launch of new SoHo portfolio
Mobile
• Refreshing propositions, handset portfolio and ‘Family Cards’ • Vodafone own brands supporting mobile net additions, with 3 consecutive quarters of contract ARPU growth • Rebalancing channel mix for value over volume • Continuing to drive convergence • Additional investment in brand and customer experience 1&1 National Roaming Agreement • Long-term commercial partnership agreed • Transition to commence in FY25
• Pre-transition: 8.5m households generating € 800m high-margin revenue • Good operational sales & marketing execution • 1.9m households secured by Mar’24 • Expect c.50% retention of MDU TV households
Fibre JV deployment • Targeting 7m households over 6-year build • Work commenced in first 6 cities
Asset utilisation
FY24 results ⫶ May 2024
1. Compared with March 2022
20
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