Vodafone Business ⫶ Highest ever organic growth
vodafone business
Digital services 1 performance
Financial performance
Q2 market performance
• 19.7% digital services growth in H1 • Q2 acceleration due to strong demand for Cloud • +80.4% growth in SaaS 2 & 13.2% growth in Cloud & Security revenue in H1 • Product launches across Smart, Secure & Sovereign portfolio, and SuperMobile in the UK
• Germany: continued growth due to strong digital services (SaaS and Cloud & Security), offset by ongoing pressure in core connectivity • UK: broadly stable despite mobile ARPU pressure from corporate contract renewals • Other Europe: strong digital services growth driven by last ERF 3 projects in Greece • Africa: growth with core connectivity supported by price actions in Egypt
• 5.8% service revenue growth in H1 with all products growing, incl. core connectivity • Best-ever service revenue growth in Q2, with accelerating digital services growth in Europe • Digital services now 27.8% of Business service revenue in H1, +3.1pp higher YoY
Digital services 1 revenue growth organic, %
Service revenue growth organic, %
Business service revenue growth Q2 FY27 organic, %
25.8%
Europe B2B Growth: +3.9%
Group
Europe
20.5%
23.0%
18.1%
9.9%
9.3%
6.6%
18.0%
20.5%
18.8%
12.2%
11.1%
5.0%
13.0%
3.2%
11.8%
5.0%
3.0%
2.9%
8.0%
3.3%
0.3%
7.3%
3.0%
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Q2 FY27
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Q2 FY27
DE
UK
EU
SA
1. Digital Services include IoT, cloud & security services, SDN, and digital solutions and communications. 2. Software-as-a-service. 3. European Recovery Fund.
Vodafone Group Plc H1 FY27 Results ⫶ November 2026
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