Vodafone Business ⫶ Digital services & public sector acceleration Financial performance +4.0% FY25 Service revenue growth Unique digital capabilities +13.8% FY25 digital services 1 revenue growth Markets performance
4.7m Business customers
• Sequential improvement throughout the year, as expected • Growing across all products & customer segments • Further acceleration in Q4 supported by commercial momentum in digital services
• 21% of Business service revenue in Q4 • 23% YoY growth in Cloud portfolio & continued strong demand for SaaS 2 • 205 million IoT connections (+4.5% YoY) • Leader in the 2025 Gartner Magic Quadrant for Mobile Private Networks, IoT & Global WAN
• Germany impacted by project phasing and large corporate re-signs • UK lapping higher price rises in the prior year & ARPU pressure • Other EU public sector project work & digital services growth • South Africa strong digital services & fixed connectivity demand
Business service revenue growth (%)
Digital services 1 revenue growth (%)
Business service revenue growth, FY25 (%)
17.9%
14.5% 16.1%
5.4%
4.7%
5.1%
4.4%
10.5%
4.3%
4.0%
6.7%
(0.9)%
2.6%
(2.3)%
3
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
DE
UK
OEU
SA
FY25 results ⫶ May 2025
1. Digital services include IoT, Cloud & Security services.. 2. SaaS = Software as a Service. 3. Albania, Czech Republic, Greece, Ireland, Portugal and Romania.
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