Things are looking up with Vodafone - Vodafone Germany sees revenue growth and TV subscriber rebound after long decline
Vodafone Germany has reported a rise in service revenue and a growing TV customer base, marking a turnaround after several quarters of decline. The company's CEO, Marcel de Groot, is optimistic about future growth.
Vodafone's service revenue increased by 0.5 percent to €2.74 billion in the summer quarter. This uptick comes after six consecutive quarters of declining revenue. The growth was primarily driven by rental income from competitor 1&1, with over 11 million of 1&1's mobile customers now using Vodafone's network.
The company's TV customer base has also started to grow again, with 62,000 new subscribers in the most recent quarter. This turnaround follows the loss of four million TV customers and the abolition of Germany's ancillary cost privilege.
Vodafone's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDAaL) fell by 4.3 percent to €2.19 billion in the first half of its fiscal year. Despite this, the company's mobile contract customer base has stagnated, and the number of fixed-line internet users has declined.
Vodafone Germany's recent performance shows signs of improvement, with growing TV customers and increased service revenue. The company's CEO remains optimistic about future growth prospects. However, challenges persist in the mobile contract customer base and fixed-line internet users.
