Highlights ⫶ Good overall performance Group service revenue growth
Regional service revenue growth
Adjusted EBITDAaL
+2.2%
Group
Europe
Europe (ex. MDU impact)
Africa
1
11.6%
10.0% 10.0% 9.7%
€2.8bn
€2.8bn
8.8%
7.1%
6.3%
5.4%
5.2%
2.9%
29.9% Adj. EBITDAaL margin
28.8% Adj. EBITDAaL margin
2.2%
4.2%
0.4%
0.1%
2.4%
(0.3%)
(0.3%)
(2.3%) (1.9%)
Q3 FY24
Q3 FY25
Q3 FY24
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q3 FY24
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
• Acceleration in trends quarter-on- quarter driven by UK and Africa • Germany (-6.4%) broadly similar performance to Q2 • Business (+4.3%) maintaining good growth momentum
• Europe: stable ex. MDU drag • Africa: improvement in most markets • Türkiye continuing to grow ahead of inflation & double digit in euro-terms
• +2.2% growth in Q3 on a like-for-like basis (+3.2% year to date) • Good Group service revenue growth & lower energy costs in Europe, partially offset by German MDU TV transition impact & market investments • In-line with FY25 guidance 2
Q3 FY25 Trading Update ⫶ February 2025
1. Vodacom Group only. 2. Organic Adjusted EBITDAaL growth. Presents performance on a comparable basis, excl. the impact of FX rates, M&A and the hyperinflation adjustment in Türkiye.
3
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