Germany ⫶ Service revenue growth across mobile & fixed
32% of Group service revenue 1
Customer additions
Service revenue
Operational actions
• Mobile contract net additions impacted by market intensity & B2B disconnections • Stable branded mobile Consumer base despite competitive pressure • Broadband base decline due to fewer new customer wins • Highest ever cable NPS in Q1, supporting broadly stable broadband customer churn • We continue to drive inflow ARPU growth (+30% YoY) in a more promotional market
• 1.2% service revenue growth supported by wholesale revenue & fixed line growth • Mobile wholesale revenue growth, partially offset by retail competitive pressure • Good fixed growth reflecting strong Consumer broadband ARPU & Business services growth • Strong digital services results, particularly in cloud & security services & digital solutions (SaaS 2 )
• ‘Ask Once’ promise enabled with GenAI, rolled out for broadband, reducing detractors by c.20% • Expanding our largest gigabit connectivity footprint in the country through partnership with Deutsche GigaNetz • OXG build out progressing: − 840k homes passed with over 1.2m expected by the end of the financial year − building in over 60 cities − marketing to >1.5m households & first customers connected
Service revenue growth (organic, %)
Net additions (‘000s)
OXG homes passed (‘000s)
Germany SR
Ex. MDU transition impact
Homes passed
Gigabit broadband
DSL
Mobile contract
1.3%
1.2%
c.1.2m
11
0.7%
(1)
0.5%
(15)
840
(0.3)%
(15)
(8)
(47)
c.600
(59)
(61)
(11)
460
350
(16)
(36)
c.250
(31)
(37)
(3.2)%
(77)
(85)
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
FY27e
1. Based on Q1 FY27 service revenue contribution. 2. Software-as-a-service.
Vodafone Group Plc Q1 FY27 Trading Update ⫶ July 2026
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