Vodafone Business ⫶ Maintained good growth momentum Financial performance +4.3% Service revenue growth Unique digital capabilities +14.5% Digital services 1 revenue growth
Markets performance
4.7m Business customers
• Good momentum driven by double-digit growth in digital services • Strong growth in Other Europe, Vodacom & Türkiye • Expect to maintain momentum in Q4
• Strong growth in Digital Services, >50% of total growth in Business • Recognised as a leader in the 2025 Gartner Magic Quadrant for Mobile Private Networks • Cloud & Security +31% in Q3, with strong broad-based growth across markets • Launched new Cyber hub in Germany
• Germany: impacted by project & IoT usage phasing • UK: +1.3pp QoQ improvement driven by project phasing • Other Europe: good digital services growth & Public Sector project work • South Africa: strong growth across all products
Business service revenue growth (%)
Digital services 1 revenue growth (%)
Business service revenue growth, Q3 FY25 (%)
17.9%
16.2%
14.5%
10.8%
10.5%
5.4%
5.0%
6.7%
5.8%
4.3%
4.0%
2.6%
(3.0)%
(0.4)%
2
Q3 FY24
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q3 FY24
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
DE
UK
OEU
Q3 FY25 Trading Update ⫶ February 2025
1. Digital services include IoT, Cloud & Security services. Represents 20% of Group Business service revenue. 2. Albania, Czech Republic, Greece, Ireland, Portugal and Romania.
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