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Vodafone posts profit growth as Germany market recovers and UK merger boosts revenue.

Company Fundamentals
12 May 2026
Proactive Investors
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Bullish
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Vodafone Group reported an 8% increase in total revenue to €40.5 billion and a swing to operating profit of €2.8 billion from a loss the previous year, driven by growth in Germany and the inclusion of Three UK. Service revenue rose 8.8%, with organic growth of 5.4%, despite a slight decline in Germany's annual service revenue. The company also raised its dividend by 2.5% and completed a €0.5 billion share buyback tranche. For 2027, Vodafone expects adjusted EBITDAaL of €11.9-€12.2 billion and free cash flow of €2.6-€2.9 billion, signaling confidence in its growth outlook after recent transformations and UK merger integration successes.

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