Vodafone 2025 Annual Report

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Vodafone Group Plc Annual Report 2025

Strategic report

Governance

Financials

Other information

About Vodafone 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 Our business comprises of infrastructure assets, shared operations, growth platforms, and retail and service operations. Our retail and service operations are split across three broad business lines: Vodafone Business, Europe Consumer and Africa Consumer. 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 market and sell through digital and physical channels.

We provide mobile and fixed services to over 275 million customers in 15 countries and have over 51 million FinTech users. Through our joint ventures and associates we serve a further 66 million customers and 37 million FinTech users, across five countries. 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 4.7m customers 205m IoT connections €144bn addressable market 26% of Group service revenue Strategic

Investments Operations

Consumer

Controlled operations

Non-controlled operations

Europe 1

Africa

Infrastructure

Innovation

partnerships Microsoft, Google and Accenture

9 countries 96m mobile customers

17m fixed customers

6 countries 161m mobile customers

51m FinTech users

40+ countries

Partner markets

Note: 1. Includes Türkiye

Shared operations

Procurement & roaming services

Network services

Shared Operations

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