Vodafone: 2016 revenues down 3%, but in line with expectations

Vodafone records the first growth since 2008, on a comparable basis, revenues and earnings for the year core, supported by an increase in revenues in Europe in the fourth quarter.

In particular, the British telecommunications group posted a net loss of 3.8 billion pounds, compared to 5.86 billion for the year to 31 March 2015. Revenues are down 3% to 40.97 billion but showed an increase in organic growth of 2.3%.

The chief executive Vittorio Colao director stressed "the return to organic growth in both revenue and EBITDA for the first time since 2008. We have obtained the first quarter growth of sales in Europe since December 2010, while growth in the region has accelerated AMAP with a strong performance in South Africa, Turkey and Egypt. the margins grew due to our cost efficiency programs ".

As for the current financial year, Vodafone aims at organic growth in EBITDA between 3% and 6% to 12.4 / 12.8 billion pounds (15.7 / 16.2 billion euro), to adjusted free cash flow of at least 4 billion and further increase dividends for shareholders. "We will continue to invest in our programs of excellence both in mobile telephony and in the converged services. I am confident that we will support our positive momentum in the year ahead, allowing us to deliver attractive returns to our shareholders," said Colao.