The Vodafone Group gave a trading update for fiscal first quarter to June, showing revenues fell 3.3 percent to EUR 11.5 billion. In Europe, revenues were down 4.8 percent, while elsewhere revenue increased by 1.2 percent. Service revenue declined 4.6 percent (Europe -6.2%, elsewhere +1.3%), but on an organic basis (excluding India) showed an increase of 2.2 percent (Europe +0.8%, elsewhere +7.9%). Ignoring the effect in Europe of regulation, growth would have been at 1.8 percent, Vodafone said.
The results were in line with management expectations, and the group maintained its outlook for full year 2017/18.
The differences in results were large. Italy and Spain recorded robust growth, underlying results at Germany also showed growth, and the UK marked a recovery. Turkey (+13.9%) and Vodacom (+5.6%) performed well, while India (-13.9%) suffered from the arrival of a new provider, Reliance Jio. The results from VodafoneZiggo will follow on August 7, as will those of Liberty Global.
Mobile data traffic grew by 63 percent, and average usage by smartphones in Europe rose 39 percent to 1.8 GB per month. About 67 percent of European data traffic is now over 4G.
The Enterprise division showed service revenue going 1.5 percent higher (Europe unchanged), with 0.6 percent stronger mobile services revenue.
