The following is a summary of the Vodafone Group Public Limited Company (VOD) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Vodafone experienced 2% EBITDA growth and acceleration in service revenue growth despite significant challenges, including inflation and customer experience reinvestments.

• The company slightly surpassed its annual guidance, indicating a strong financial position for predictable growth.

• Due to the German Market Dependent Unit (MDU) transition, a €400 million drag in terms of revenue and EBITDA is anticipated only for FY '25 with growth expected to return in FY '26.

• Service revenue growth in the business segment has accelerated to 5% this year.

• FY '25 guidance for free cash flow is at least €2.4 billion, compared to the reported €2.6 billion in FY '24.

• A sustainable level of 1.5% organic service revenue growth was reported in Q4.

Business Progress:

• Vodafone has undergone significant structural changes by reshaping its European footprint, focusing on strong positions and local scales.

• The company reported improved results from efforts to eliminate customer pain points with leading or co-leading NPS positions in five out of nine European markets.

• Plans to increase investments in the customer experience in Germany are set for FY '25.

• Vodafone plans to transition 1&1 customers to its network beginning in Fall, which will slightly impact the national roaming agreement in FY '25.

• The company has established a new division called 'Vodafone Investment' to manage its non-controlled assets and is expecting to launch a share buyback program shortly after approval.

• For FY '25, Vodafone expects a 'U' shaped performance with headwinds hitting mostly in the first half of the year, but anticipates growth opportunities in the second half.

• The company is aiming for an accelerated market share, focusing on German markets to drive higher underlying service revenue growth in FY '26.

More details: Vodafone IR

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