EarningsQ4 2026 Earnings Report
MX:VOD1N Q4 2026 EPS Results
Actual EPS-$1.12
Consensus EPS$0.56
Beat/MissMissed by -$1.68
One Year Ago EPS-$4.26
MX:VOD1N Q4 2026 Revenue Results
Actual Revenue$442.96B
Expected Revenue$215.17B
Beat/MissBeat by +$227.79B
YoY Revenue Growth+13.69%
Earnings Announcement Details
QuarterQ4 2026
Date05/12/2026
TimeBefore Open
Conference CallTuesday, May 12, 2026
MX:VOD1N Upcoming Earnings
Vodafone's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational and financial progress — strong Q4 service revenue growth (5.1%), solid adjusted EBITDAaL organic growth (4.5%), EUR 2.6bn adjusted free cash flow, dividend increase, and a reinstated midterm target of double-digit organic free cash flow growth — against notable near-term challenges concentrated in Germany (retail service revenue still negative, expected EBITDA decline) and some U.K. B2B timing headwinds and a temporary leverage bump from the VodafoneThree buyout. Management emphasized portfolio simplification, disciplined leverage, UK synergy capture, and AI-driven productivity, indicating confidence in medium-term delivery despite the regional pressures.Company Guidance
Group Revenue Momentum
Group service revenue growth remained strong in Q4 at 5.1%, with growth across both Europe and Africa, signaling broad-based top-line momentum.
Profitability in Line with Guidance
Adjusted EBITDAaL delivered 4.5% organic growth for FY '26, meeting the upper end of guidance and reflecting operational improvement across the portfolio.
Strong Free Cash Flow and Dividend Action
Adjusted free cash flow reached EUR 2.6 billion for FY '26 and the board increased the full-year dividend by 2.5%, while reinstating a midterm ambition to deliver double-digit organic growth in adjusted free cash flow.
UK Integration and Scale Benefits
Integration progress in the U.K. is driving network quality and customer satisfaction improvements; Vodafone will take full ownership of the VodafoneThree JV (GBP 4.2 billion deal), expects first meaningful cost and CapEx synergies, and is targeting GBP 700 million of cost and CapEx synergies to achieve by 2030. The U.K. also delivered its fastest-ever year of home broadband customer growth and has the largest gigabit footprint.
Africa Growth and Digital Services
Africa reported its strongest service revenue growth in almost two decades. The group operates Africa's largest fintech platform with over 100 million users and millions of merchants, and Vodacom guidance points to double-digit midterm growth in that region.
Commercial Improvements in Germany (Customer Metrics)
Germany showed consistent quarter-on-quarter NPS improvements across all segments with highest-ever mobile and cable NPS, consumer broadband returning to growth and inflow ARPU up ~30% year-on-year, indicating improving customer value capture.
Capital Allocation and Portfolio Simplification
Management reiterated focus on simplified, scaled markets and active portfolio management: completed/announced disposals and simplifications (Netherlands sale, Vantage 50-50, India/Indus and infrastructure sales) and a disciplined leverage target (aiming for the lower half of the leverage range over time).
AI and Productivity Initiatives
AI is being embedded across operations (Zero Touch operations, TOBi/SuperTOBi in customer care, procurement/tendering) delivering measurable cost and productivity gains and positioning the group for structural OpEx improvement.
Guidance for FY '27
The company is guiding for continued good growth in both adjusted EBITDAaL and adjusted free cash flow for FY '27, with a peak in U.K. CapEx in FY '27 and broadly stable capital intensity thereafter.
MX:VOD1N Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed