Vodafone announced a 3,3% increase in service revenue for the first quarter, as it benefited from the easing of foreclosure restrictions, an increasing customer base and a consequent increase in roaming revenue. The Newbury-based operator reported service revenue of €9.390bn for the three-month period as it increased the number of mobile connections on its European networks to 113m. Subscribed customers grew from 64,5 million to 65,6 million year-over-year, while broadband subscribers increased from 400.000 to 25,6 million. The number of converged customers in all markets is 7,9 million, compared to 7,4 million.
Vodafone revenue
In the UK, service revenue increased 2,5% to £1.300bn as the company added 29.000 broadband customers and 65.000 contracted mobile subscribers. The loss of roaming revenue affected all operators, as business travelers and tourists were forced to stay at home. But with international travel picking up, roaming revenue is up 56% year-over-year. However, those revenues were still 54% below pre-pandemic levels. Nonetheless, Vodafone is pleased with the performance and says it is on track to meet its annual target of €15-15,4 billion. “I am pleased to report that we have returned to service revenue growth in Europe, as well as Africa. This growth was broadly extended to the Consumer and Business segments, with the contribution of the vast majority of our markets. This is the result of our commercial and operational momentum built over the last 3 years as part of our strategic transformation. “In Europe, the retail and operating environment is not back to normal yet, but we are performing well in service revenue. In our Business segment, we are experiencing stronger growth with our public sector and enterprise customers, as we continue to build a demand pipeline for our digital services, such as IoT, security and cloud.