UK ⫶ Good progress in line with expectations
UK 1 23% of Group service revenue 2
-0.5% Q3 Service revenue growth
Integration
• As anticipated, service revenue declined, driven by strong prior year comparative in Business & Wholesale • Maintained strong commercial momentum in Consumer & Wholesale • Business affected by the previously flagged prior year one-off project revenue
• Mobile contract net additions impacted by the disconnection of very low value Business SIMs (-53k) incl. Three brand • Strong improvement in Consumer contract mobile churn (+1.7pp YoY) across all brands • The UK’s fastest growing broadband provider with 64k broadband & 11k Fixed Wireless Access 3 net additions in Q3
Transforming mobile network experience • >8,000 MOCN 4 site activations, 4 months ahead of schedule • Early impacts of network improvement recognised by independent tests Clear synergy target pathway • On track to deliver £700m cost & capex synergies by FY30 • Retail & property consolidation started • Organisation simplification continues Unique portfolio & propositions • Launch of new ‘Vodafone Together Family’ plans in November 2025 • Multi-brand mobile strategy • Largest gigabit footprint covering 22m households
Service revenue growth (%)
Net additions (‘000)
Fixed
Mobile contract
3.3%
3.1%
64
72
61
50
44
1.2%
0.9%
41
14
1
(0.5)%
(46)
(73)
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
1. FY26 results include two months of Vodafone UK on a standalone basis and seven months of VodafoneThree results. 2. Based on Q3 FY26 service revenue contribution. 3. Fixed Wireless Additions are reported under mobile additions. 4. MOCN: Multi-Operator Core Network
Q3 FY26 Trading Update ⫶ February 2026
5
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