2023-05-16 03:38:51 ET
- Vodafone Group press release ( NASDAQ: VOD ): FY Non-GAAP EPS of €0.11.
- Revenue of €45.71B (+0.3% Y/Y).
- Adjusted EBITDAaL declined by 1.3% to €14.7 billion due to higher energy costs, and commercial underperformance in Germany.
- Adjusted free cash flow of €4.8 billion, reflecting lower adjusted EBITDAaL and tax phasing.
- Significant reduction in net debt to €33.4 billion, proforma net debt to adjusted EBITDAaL improved to 2.5x.
- Cash inflow from operating activities were broadly stable year-on-year at €18.1 billion.
- Germany remains under pressure with -1.6% service revenue growth and -6.1% adjusted EBITDAaL growth.
- Outlook: " In order to provide a basis of comparison for our FY24 guidance, we have rebased our FY23 financials to reflect the current structure of the Group and applied foreign exchange rates that are consistent with FY24 guidance rates. On a comparable basis, the rebased FY23 adjusted EBITDAaL is €13.3 billion and adjusted free cash flow is €4.2 billion. Based on the current prevailing assessments of the global macroeconomic outlook, for FY24 we expect: Adjusted EBITDAaL to be ‘broadly flat’ at around €13.3 billion; and Adjusted free cash flow to be ‘around’ €3.3 billion, reflecting expected working capital movements, interest and dividend receipts.
For further details see:
Vodafone Group Non-GAAP EPS of €0.11, revenue of €45.71B; initiates FY24 guidance