Vodafone Business ⫶ Further growth acceleration
Strong financial performance
Markets progress
Unique capabilities in digital
Business service revenue growth, Q3 FY24 (%)
Business service revenue growth (%)
Digital services 1 revenue growth (%)
23.7%
7.5% 7.8%
5.0%
16.9%
5.8%
4.6%
14.6% 13.6%
4.3%
12.9%
4.3%
2.9%
2.4%
(1.9%)
Q3 FY23
Q4 FY23
Q1 FY24
Q2 FY24
Q3 FY24
UK
DE
IT
O EU
SA
• Growing across all customer segments • Europe +3.7% in Q3 (Q2: +3.0%) • Acceleration driven by strong public sector growth and digital services adoption
• Q3 IoT growth of +19.6%, driven by UK and Other EU projects • 29.3% growth in Cloud; SaaS 2 and Security • Strategic Microsoft partnership announced, including planned Vodafone IoT investment
• Germany impacted by strong prior year digital revenue, and in-year IoT phasing • Strong UK IoT project revenue • Italy fixed connectivity and digital services growing, supported by ERF • All segments growing in Other EU
1 Digital services include IoT, Cloud & Security services, now 18% of Vodafone Business service revenue 2 Software as a Service
Q3 FY24 Trading Update ⫶ February 2024
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