229 Vodafone Group Plc Annual Report 2026
Strategic report
Governance
Financials
Other information
Non-GAAP measures - Unaudited information (continued) Quarter ended 31 March 2026 Q4 FY26 €m Q4 FY25 €m
Reported growth %
M&A and Other pps
Foreign exchange pps
Reported growth %
M&A and Other pps
Foreign exchange pps
Organic growth %
Organic growth %
Q3 FY26 €m
Q3 FY25 €m
Quarter ended 31 December 2025
Service revenue Germany Mobile service revenue Fixed service revenue Mobile service revenue Fixed service revenue UK
Service revenue Germany Mobile service revenue Fixed service revenue Mobile service revenue Fixed service revenue UK
2,723 2,670 1,274 1,242 1,449 1,428
2.0 (0.7) 1.5 (1.4) 2.7 –
– – –
1.3 2.7 0.1
2,726 2,706 1,295 1,259
0.7 2.8
– – –
– – –
0.7 2.8 (1.1)
1,431 1,447 (1.1)
1,958 1,489 31.5 (36.9) 1,539 1,057 45.6 (51.9)
5.2 (0.2) 5.8 (0.5)
1,975 1,507 31.1 (38.4) 1,565 1,096 42.8 (52.1)
6.8 (0.5) 7.5 (1.8)
419 432 (3.0) 1,230 1,194 828 605 36.9
–
3.8 (0.6)
0.8 1.2 33.7
410 411 (0.2) 1,243 1,201 671 776 (13.5)
–
5.0 (0.7)
4.8 1.2 38.5 13.5
Other Europe T ü rkiye 1
3.0 (1.2)
Other Europe T ü rkiye 1
3.5 (1.6)
1.0 (4.2)
4.8 47.2
Africa
1,732 1,614 192 176
7.3
–
3.6 10.9
Africa
1,738 1,607 183 165 8,506 7,929 (30) (33) 1,946 1,882 10,452 9,811
8.2
–
5.3
Common Functions 2 Eliminations Total service revenue Other revenue
Common Functions 2 Eliminations Total service revenue Other revenue
(16)
(28)
8,647 7,720 12.0 (8.1) 10,400 9,361 11.1 (9.1) 1,753 1,641
1.2 1.0
5.1 3.0 3.2 1.5 6.8 34.5 11.3
7.3 (7.8) 6.5 (9.5)
5.9 6.0
5.4 3.0
Revenue
Revenue
Other growth metrics Vodafone Business ('VB') - Service revenue Germany - VB service revenue UK - VB service revenue Other Europe - VB service revenue T ü rkiye - VB service revenue Africa - Vodacom Business service revenue South Africa - Financial services revenue Vodacom International M-Pesa revenue gypt - Financial services revenue (Vodafone Cash) Adjusted EBITDAaL E
Other growth metrics Vodafone Business ('VB') - Service revenue Germany - VB service revenue UK - VB service revenue Other Europe - VB service revenue T ü rkiye - VB service revenue Africa - Vodacom Business service revenue South Africa - Financial services revenue Vodacom International M-Pesa revenue Egypt - Financial services revenue (Vodafone Cash) Adjusted EBITDAaL
2,134 2,062 616 588
3.5 (1.5) 4.8 (3.3)
1.2
2,054 2,051 583 594 (1.8) 536 560 (4.3) 407 395 3.0 111 115 (3.5)
0.1 (1.1)
4.0
3.0 (1.8)
–
–
–
535 565 (5.3) 401 405 (1.0) 323 296 44 11.4 128 115 11.3 137 9.1 49
(6.0)
3.5 (7.8)
(6.1)
5.0 (5.4)
8.1 (0.3)
2.6 (0.9) 5.1 53.2 54.8 4.7
98 39.8 (3.2)
(2.1) (0.1)
– –
1.9 11.0
309 289
6.9 4.3
– – – –
5.4 12.3 6.9 24.6 4.1 8.4 3.3 60.0
48
46
– 12.6 23.9 – 10.8 37.3
133 113 17.7
43
34 26.5
47
30 56.7
2,816 2,828 (0.4)
(2.6)
5.3
2.3
2,807 2,693
4.2 (2.5)
0.6
2.3
Notes: 1. Reported service revenue growth in Türkiye of 36.9% (Q3 FY26: -13.5%) includes 37.1pps (Q3 FY26: -17.2pps) in relation to the application of IAS 29 ‘Financial Reporting in Hyperinflationary Economies’. Growth in Türkiye excluding the impact of this
hyperinflationary adjustment was -0.2% (Q3 FY26: 3.7%). 2. Comprises corporate functions and shared operations.
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