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Mobile & Wireless

Vodafone Italia service revenues fall 10.2% in H1

Tuesday 13 November 2012 | 12:41 CET | News
Vodafone reported a net loss of 39,000 customers in Italy in its fiscal second quarter to September and a further drop in revenues. The customer base totaled 22.735 million at the end of September, down from 22.774 million three months earlier, with 82.3 percent of customers still on prepaid. The fixed-line subscriber base fell by 3,000 to 1.318 million. 

Mobile ARPU fell to EUR 17.7 from EUR 18.7 in the previous quarter and EUR 20.1 a year earlier, with the growth in data revenues unable to offset pressure on voice revenues from the difficult economic conditions and termination rate cuts. Voice traffic was down from Q1 but increased slightly from a year earlier to 11.607 billion minutes. 

Quarterly service revenue in Italy was down 12.8 percent from a year earlier to GBP 1.088 billion, led by a sharp fall in voice and messaging revenue. Over the six months to September, organic service revenue fell 10.2 percent and EBITDA was down 16.6 percent, hurt by lower customer spend, a termination rate cut in July and investment in mobile customer acquisition and retention. 

Enterprise revenue was also lower due to the difficult economic conditions, while data revenues rose 8.3 percent. Vodafone said 28.2 percent of customers now had a smartphone and 54.9 percent of these had a data service plan. 

Due to the weak market outlook, Vodafone wrote down the value of goodwill on the Italian operations by GBP 2.7 billion to GBP 7.2 billion. 


Categories: Mobile & Wireless
Companies: Vodafone Italia
Countries: Italy
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