Vodafone Group Public Limited Company (VOD) Earnings Call Transcripts

Vodafone Group Public Limited Company's Latest Earnings Call - May 12, 2026

In the fourth quarter of FY '26, Vodafone Group reported a strong performance with group service revenue growth of 5.1%, achieving the upper end of management's expectations. The company generated EUR 2.6 billion in adjusted free cash flow and increased its full-year dividend by 2.5%. For FY '27, management guided for continued growth in adjusted EBITDAaL and free cash flow, signaling confidence in their operational improvements and strategic positioning despite ongoing challenges in the German market.

Reported metrics

Guidance from management

Management guided for continued growth in both adjusted EBITDAaL and adjusted free cash flow for FY '27, indicating confidence in operational improvements despite challenges in the German market.

What management said

No, that's not correct in the sense that we don't give you -- we have a number of scenarios, as you can imagine, within our range of outcomes, and we are not specific on that point. What it does assume in all scenarios is a reduction of the cash contribution as 1&1 continues to grow its coverage.

And maybe just to add that all this is built on foundations that are essential for scale. I would just mention 2 points. One is we have a fully multi-vendor architecture. Even within the same use cases, we are using different LLMs because, of course, who knows where AI is going. And therefore, we maintain total flexibility to make sure that at every point in time, we have the best solutions for our needs. And the s...

What analysts pressed on

Analysts expressed concerns about the competitive environment in Germany and the potential impact on EBITDA. There were questions regarding the sustainability of subscriber growth and the implications of ongoing pricing pressures in the market.

Main topics on the call

• Strong Revenue Growth — Vodafone reported group service revenue growth of 5.1% in Q4 FY '26, driven by improvements in both Europe and Africa. Management noted, "We are pleased with our performance in FY '26 as we have achieved the upper end of...
• Operational Improvements in Germany — Despite competitive pressures, Vodafone is seeing improvements in B2B and consumer broadband in Germany. Della Valle stated, "We are now growing in B2B and consumer broadband," indicating a positive shift in operational ...
• Increased Dividend — Vodafone increased its full-year FY '26 dividend by 2.5%, reflecting confidence in cash generation. This move aligns with their progressive dividend policy, signaling a commitment to returning value to shareholders.
• Guidance for FY '27 — Management provided guidance for FY '27, expecting continued growth in adjusted EBITDAaL and free cash flow. They stated, "We are guiding for continued good growth in both adjusted EBITDAaL and adjusted free cash flow," ...

Read the full Vodafone Group Public Limited Company transcript (May 12, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 71 Vodafone Group Public Limited Company earnings call transcripts on record, spanning February 4, 2020 to July 27, 2026. Based on this history, Vodafone Group Public Limited Company reports quarterly. The most recent call on file is dated July 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

VOD

Exchange

LSE

Country

GB

Sector

Communication Services

Industry

Wireless Telecommunication Services

Calls on record

71

First call

February 4, 2020

Most recent

July 27, 2026

Reporting cadence

quarterly