Vodafone revenues return to growth in Europe after pandemic dip

An international telecommunications company has announced that its call revenues have returned to growth in Europe.

Vodafone, headquartered in Berkshire, reported that its first quarter service revenues rose by 3.1 per cent €9.39bn, with total revenues - including mobile phone sales - growing by 5.7 per cent.

It added that its roaming and visitor revenue grew by 56 per cent year-on-year, but that it was still 54 per cent lower than pre-pandemic levels.

Nick Read, group chief executive of Vodafone, commented: “I am pleased to report that we are back to service revenue growth in Europe, as well as Africa.

“This growth was broad-based within both consumer and business segments, with the vast majority of our markets contributing.

“This is a result of our commercial and operating momentum built over the past 3 years as part of our strategic transformation.

“In Europe, the operating and retail environment has not yet returned to normal conditions, but we are delivering a good service revenue performance.

“In our business segment, we are seeing stronger growth with our public sector and corporate customers, whilst further building a pipeline of demand for our digital services, such as IoT, security and cloud.

“In May we announced, for the first time, our medium-term growth ambition. We have entered the year in line with this ambition, on track to deliver our guidance for the year, and with a continued focus to optimise our portfolio, to accelerate the delivery of shareholder value.”