Vodafone Raises Guidance Amid German Job Cuts

Vodafone raised its full-year guidance for the period ending March 2027, upgrading adjusted core earnings to between €13.2 billion and €13.4 billion and adjusted free cash flow to between €2.8 billion and €3.0 billion. The company reported first-half adjusted core earnings of €6.5 billion, representing a 6.4% organic increase.

Financial growth was driven by strong business-to-business operations and a 13.4% increase in organic service revenue in Africa. In the United Kingdom, revenue for the first half of the 2027 fiscal year rose 10.2 percent to EUR 4.86 billion, with adjusted EBITDAaL growing 11.3 percent to EUR 984 million. However, Vodafone UK lost 62,000 contract mobile customers during the period ending in September.

Challenges persisted in Germany, where organic service revenue turned negative in the second quarter due to mobile market pressure. To simplify operations and address these declines, the company announced 2,300 additional job cuts in Germany, following 3,000 role reductions already implemented in the first half of the year. Chief Executive Margherita Della Valle stated that Germany is not yet where it needs to be and noted that the company needs to be simpler, hence the job reductions.