Simplicity ⫶ Strong track record of driving opex efficiencies
Annual EU opex savings supporting reinvestments 2
Annual EU net opex savings 1
(€bn)
(€bn)
Opex savings Reinvestments
0.3
0.2
0.1
1.5
0.4
1.3
0.4
0.4
0.8
0.3
0.4
FY23
FY24
FY25
FY26
FY19
FY20
FY21
FY22
Source: FY22 results presentation, p14
Source: FY26 results presentation, p26
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY19
annual net savings 16% of baseline
annual gross savings c.10% of baseline
€1.5bn
€0.7bn
• >8,000 role efficiencies in Shared Operations in 4 years • Total UnityMedia integration synergies of €0.5bn • IT transformation across 6 markets • Product development rationalisation and legacy decommissioning • 45% of total contacts resolved by our chatbot • c.50% reduction in network monitoring & configuration costs
• c.11,000 role reductions over 3 years (FY24 – FY26) • Leveraged scale in network & digital operations • Corporate services right-sized for new shape of Group • Embedded zero-touch operations and embraced AI coding
Benefits of scale
Simplification
• 85% of total contacts resolved by our AI chatbot • VOIS shared services productivity up by 20%
Automation
Providing strong foundations for the next phase of our opex efficiency programme…
1. Net opex savings Europe, Common Functions & Vantage Towers. 2. Includes Europe and Common Functions operating expenditure. Excludes extra energy costs driven by inflation from the Ukraine crisis.
Vodafone Group Plc H1 FY27 Results ⫶ November 2026
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