2 Vodafone Group Plc Annual Report 2026
Strategic report
Governance
Financials
Other information
Business model We are a leading European and African telecommunications company transforming the way our customers live and work through our technology, platforms, products and services. Where we operate
How we are structured and what we sell Core connectivity products and services in fixed and mobile account for the majority of our revenue. However, our portfolio also includes high return growth areas that leverage and complement our core connectivity business, such as digital services, the Internet of Things (‘IoT’) and financial services. We also market and sell through digital and physical channels. See pages 9 to 11 for the value we create for our customers, communities and other stakeholders
We provide mobile and fixed services to approximately 300 million customers in 15 countries and have over 59 million FinTech users. Through our joint ventures and associates we serve a further 72 million customers and 44 million FinTech users. We also partner with mobile networks in over 40 countries outside our footprint. Our portfolio of local markets is supported by corporate services and shared operations, which deliver benefits through scale and standardisation.
Vodafone Business Operating across all markets €160bn addressable market 5m customers 244m IoT connections 24% of Group service revenue Strategic
Investments Operations 2
Consumer Europe (Includes Türkiye)
Controlled operations
Non-controlled operations
Africa 1
Infrastructure
Innovation
9 countries 107m mobile customers 59m FinTech users 1. A greement reached for Vodacom Group to acquire an effective 20% of the issued share capital in Safaricom PLC, expanding the Group’s footprint into Kenya and Ethiopia. Completion of the acquisition is subject to certain conditions and is currently prevented by a court order. 17m broadband customers 6 countries 172m mobile customers
Global telecoms partners 40+
partnerships Microsoft, Google and Amazon
2. A nnounced sale of our interests in VodafoneZiggo for €1.0 billion cash proceeds and a 10% stake in a larger Benelux company, Ziggo Group.
Shared operations
Procurement & roaming services
Network services
Shared Operations
Our brand
Our scale and global footprint
Our people and expertise
Our financial position and capital allocation framework Read more about our investment case on page 4
Key enablers and what makes us different
Click here to read more about our company vodafone.com/our-company
Read about our people strategy on pages 38 to 43
See where we operate here vodafone.com/our-company
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