VODPF - Vodafone Group Public Limited Company (VOD) Q3 2024 Earnings Call Transcript

2024-02-05 11:17:06 ET

Start Time: 05:00

End Time: 05:38

Vodafone Group Public Limited Company (VOD)

Q3 2024 Earnings Conference Call

February 05, 2024, 05:00 AM ET

Company Participants

Margherita Della Valle - CEO

Luka Mucic - CFO

Conference Call Participants

Emmet Kelly - Morgan Stanley

Maurice Patrick - Barclays

Georgios Ierodiaconou - Citigroup

Jakob Bluestone - Exane

Akhil Dattani - JPMorgan

James Ratzer - New Street Research.

Carl Murdock-Smith - Berenberg

Robert Grindle - Deutsche Bank

Andrew Lee - Goldman Sachs

Polo Tang - UBS

Presentation

Margherita Della Valle

Good morning, everyone, and thank you for joining us for our Third Quarter Update. Before discussing our trading, I'd like to highlight the progress we have made against our priorities, customers, simplicity and growth. When I became CEO last year, I said that Vodafone must change, and we are. We are changing where we focus our time and effort towards our customers. We are changing how we organize ourselves to be simpler, and we are changing where we choose to operate to deliver good and reliable growth.

In customers, NPS and the tractor scores are both moving in the right direction across our markets, with the UK reaching the number 1 position for NPS in the market for what is probably the first time ever in our history. Following our reprioritization of investments and focus on excellence across our customer operations, we are simplifying our processes, significantly reducing call waiting times and improving the tools available to our care agents across our markets.

In Vodafone business, we accelerated our growth to 5% in the quarter with particularly strong growth in digital services and in our market-leading IoT business. In January, we also announced a unique strategic partnership with Microsoft. Together, we will drive a step up of our growth potential in the SMB segment and with IoT. In Africa, a particular highlight is the growth of financial services in Egypt with a number of customers increasing over 55% to 7.5 million, benefiting from Vodacom's capabilities....

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