A clear strategy ⫶ Delivering growth Service revenue growth across Europe & Africa 1
Accelerating Adj. EBITDAaL growth 1
Group
Group excl. Türkiye
Europe
Europe (ex. MDU impact)
Africa
4.5%
12.9%
11.3%
9.2%
7.5%
6.3%
2.5%
5.4%
5.1%
2.2%
3.9%
0.1%
(0.1%)
3.7%
3.0%
2.2%
0.6%
2.5%
1.0%
1.4%
(1.6%) FY25
FY23
FY24
FY25
FY26
FY23
FY24
FY26
FY23
FY24
FY25
FY26
Growing Adj. Free Cash Flow
Stable return on capital employed 3
1.6pp
6.6%
6.6%
€2.6bn
€2.5bn
€2.4bn
(1.6)pp
FY24 (re-baselined)
FY25 (reported)
FY26 (reported)
FY26
FY23 (re-based)
Germany (MDU impact)
Other
2
Vodafone Group Plc FY26 Results ⫶ May 2026
1. Organic growth metrics represent performance on a comparable basis, excluding the impact of foreign exchange rates, mergers and acquisitions to improve the comparability of results between periods. 2. FY24 Adjusted Free Cash Flow adjusted to exclude Vodafone Spain & Vodafone Italy and based on FY25 guidance FX rates.
3. Pre-tax ROCE for controlled operations only. ROCE is calculated by dividing adjusted Operating profit by the average adjusted Capital employed. Previously reported FY23 pre-tax ROCE of 7.8% has been re- based to reflect the FY26 Vodafone perimeter and excludes the inorganic impacts of Vantage deconsolidation and the UK merger.
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