BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Vodafone Group Plc (VOD.L, VOD) reported that its first-half profit before tax declined to 550 million euros from 1.69 billion euros, last year. The Group posted a first half loss to owners of the parent of 346 million euros compared to profit of 945 million euros, prior year. Loss per share, in cents, was 1.28 compared to profit of 3.36. Adjusted EBITDAaL was 6.4 billion euros, down 12.0% on reported basis. Adjusted basic earnings per share, in eurocents, was 3.43 compared to 5.90, principally due to lower Adjusted EBITDAaL. Organic adjusted EBITDAaL growth was 0.3% despite a significant increase in energy costs. Adjusted free cash outflow was 1.5 billion euros, in the period.
First half revenue was 21.9 billion euros compared to 22.9 billion euros, previous year. The Group said revenue decline of 4.3% was due to adverse foreign exchange rate movements and the disposal of Vantage Towers, Vodafone Hungary and Vodafone Ghana in the prior fiscal year. Group service revenue increased 4.2%, on an organic basis, to 18.6 billion euros.
Looking forward, Vodafone Group reiterated fiscal 2024 guidance with adjusted EBITDAaL expected to be 'broadly flat' at around 13.3 billion euros, and adjusted free cash flow to be around 3.3 billion euros.
The interim dividend per share is 4.5 eurocents. The ex-dividend date for the interim dividend is 23 November 2023 for ordinary shareholders, the record date is 24 November 2023 and the dividend is payable on 2 February 2024.
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