May 16, 2017

Vodafone lines up stronger 2018 after writedown and losses

Vodafone has pointed to a stronger performance in 2018 after India and some European markets such as the UK weighed it down last year. Results for the year to March showed a loss of €6.1bn due largely to a €3.7bn writedown in the value of the Indian business. Revenue decreased 4.4 per cent €47.6bn due partly to foreign exchange movements with organic service revenue - what it makes from calls and data - up 1.9 per cent over the course of the year. The outlook did prove stronger after a transitional year for the company. It expects adjusted earnings before interest, taxation, depreciation and amortisation to grow between 4 and 8 per cent compared to 3.4 per cent last year.

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