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Vodafone Group Plc. FY25 Q&A Transcript JP Morgan
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more important point for me and what I am really excited about, obviously, the capital intensity of this business is very low. We have an asset-light business in this space. So we are relying, in addition to some own capabilities also on our strong strategic partnerships to bring the solution capabilities to the market. This is actually, from a returns from a cash flow perspective, very positive for us. This business is not only measured, in my eyes, at least from an EBITDA perspective, but in particular, from a cash flow contribution perspective.
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