A strong performance in Germany and Spain has taken Vodafone to a better than expected performance – and its cable in the driving seat.
The quarter ending June 30, 2016 saw the operator grow revenues by 2.2%.
In Germany there was a decline in mobile service revenue and only modest growth in mobile contract additions.
Fixed service revenue growth improved to 4.7% as cable continued to grow alongside stabilising DSL revenue.
108,000 broadband subscribers were added in a traditionally quiet quarter of which 92,000 were on cable and the remainder on DSL.
Vittorio Colao, Group Chief Executive, commented: ‘We continued to make good progress during the first quarter. In Europe, our growth remains stable despite regulatory pressure on roaming revenue, with good performance in Germany, Spain and Italy while we are focussed on improving our performance in the UK. Customers in multiple markets are attracted by our ‘more-formore’ commercial offerings of larger data bundles and extra services, while we are seeing continued success with our fixed broadband and enterprise strategies.’’
In Spain, Vodafone One, the fully integrated cable, mobile and TV service, reached 1.9 million customers at the period end, up from 291,000 one year ago. TV subscribers grew by 52,000.
In the UK field trials for Vodafone TV are underway.
