Other Europe & Türkiye ⫶ Impacted by Portugal market conditions
+63.8% Q1 Service revenue growth
+0.2% Q1 Service revenue growth
Other Europe 15% of Group service revenue 1
Türkiye 8% of Group service revenue 1
• Slowdown in growth due to continued ARPU pressure in Portugal • Double-digit growth in Business digital services offsetting Consumer weakness • Good commercial momentum & price actions in most markets supporting growth
• Mobile contract customer net additions impacted by one-off disconnections of zero-value SIMs in Romania (-57k) • Continued to grow in all other markets
• Moderating inflation drives service revenue growth slowdown • Continued double digit growth in euro terms driven by repricing actions & effective customer base management • Business supported by growth in mobile connectivity, increased data centre usage and demand for digital services
Service revenue growth (%)
Net additions (‘000)
Service revenue growth (%) Reported growth in Euros 2
Fixed
Mobile contract
2.6%
2.6%
53.1%
52.3%
2.3%
49.5%
153
121
110
78
0.8%
29.6%
25.2%
28
0.2%
12
4
3
3
(5)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
1. Based on Q1 FY26 service revenue contribution. 2. Growth in Euro terms excluding the impact of hyperinflationary accounting adjustments.
Q1 FY26 Trading Update ⫶ July 2025
6
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