Vodafone holds steady in Europe

Vodafone’s TV customer base in Germany stood at 7.7 million as of June 30 and was unchanged on three months earlier.

At the same time, its new ‘GogaKombi’ convergence offer continued to gain momentum, adding 90,000 households in the quarter ending June 20. In total, it had 0.5 million converged consumer households in Germany. Vodafone also notes that it gained 100,000 broadband households in the quarter, of which 65,000 were on cable and the remainder on DSL.

Meanwhile, in Spain Vodafone’s TV customer base declined by 24,000 in the quarter due to a temporary delay in the capability to offer TV to new households in its wholesale footprint following a new agreement with the incumbent; higher disconnections following the end of the football season; and its greater focus on premium packages.

Vodafone One, the company’s fully integrated fixed, mobile and TV service, reached 2.4 million households at the end of the period, up 538,000 year-on-year and 63,000 during the quarter. Convergent ARPA continued to grow steadily and churn rates are around half the level of households who take a single product.

Vodafone notes that in Europe 3.8 million of its broadband households are now converged (4.4 million including VodafoneZiggo), having added 0.7 million year- on-year, led by Germany, Italy, Spain and the UK. Its average revenue per account (‘ARPA’) has grown steadily and churn rates are roughly half the level of households who take a single product. The company has 9.6 million TV households in Europe (13.5 million including VodafoneZiggo), which is broadly stable year-on-year.

Vodafone had group revenues of €11,474 million in the quarter ending June 30, or 3.3% less than the reported figure a year earlier. In Europe, they amounted to €8,299 million (-4.8%).

Commenting on the results, Vittorio Colao, group chief executive, said: “We have made a good start to the year in Europe, where our commercial momentum remains robust, and growth accelerated across AMAP. Although competition in India remains intense, service revenues stabilised compared with the prior quarter. Our substantial investments in network leadership, an excellent customer experience and even greater ‘more-for-more’ propositions for customers are enabling us to monetise strong demand for mobile data. We are gaining profitable market share in broadband, and a growing proportion of our customers now take our fully converged offers. Our world-leading Internet of Things platform contributed to another quarter of solid growth in Enterprise. In addition, we are executing our ‘Fit for Growth’ cost efficiency programme in line with our plans. Overall, this performance gives us confidence in reiterating our outlook for the year.”

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