Europe & Turkey ⫶ Lower inflation & Business project phasing
+0.0% Service revenue growth
+2.3% Service revenue growth
+91.9% Service revenue growth
UK 19% of Group service revenue 1
Other Europe 16% of Group service revenue 1
Turkey 7% of Group service revenue 1
• Lapping higher inflation-linked price rises in the prior year in Consumer & Business • Consumer contract net adds +22k, broadband +44k • Lowest ever Consumer contract mobile churn • Detractors reduced by -40% YoY
• Good commercial momentum continued, +121k mobile contract net adds • Service revenue slowdown from Business project work phasing & lower contribution from inflation-linked price increases in most markets
• Continued growth ahead of inflation & 25% in euro-terms • Driven by ongoing repricing actions & customer base management • Good Business growth with strong demand for Cloud & IoT services
Service revenue growth (%)
Service revenue growth (%)
Service revenue growth (%) Reported growth in Euros excl. hyperinflationary accounting
5.5%
5.7%
5.5%
28.7%
5.2%
4.1%
24.0% 25.2%
3.8%
3.6%
3.6%
14.6% 17.7%
2.3%
0.0% Q1 FY25
Q1 FY24
Q2 FY24
Q3 FY24
Q4 FY24
Q1 FY24
Q2 FY24
Q3 FY24
Q4 FY24
Q1 FY25
Q1 FY24
Q2 FY24
Q3 F24
Q4 FY24
Q1 FY25
Q1 FY25 Trading Update ⫶ July 2024
5
1. Based on Q1 FY25 service revenue contribution.
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