By Kyle Morris
Vodafone Group PLC on Tuesday reported increased pre-tax profit and revenue for the first half of fiscal 2023 despite the challenging macroeconomic environment.
The UK-based telecommunications company said pre-tax profit for the six months to September 30 was 1.73 billion euros ($1.79 billion) compared with 1.28 billion euros a year earlier.
Adjusted income before interest, taxes, amortization and amortization – excluding deductions and other one-time payments – was EUR 7.24 billion from EUR 7.57 billion, driven by a deal important legal agreements of the previous year and commercial underperformance in Germany.
Sales for the first half of the year were EUR 22.93 billion versus EUR 22.49 billion.
The company updated its guidance for fiscal year 2023 as the global macroeconomic situation worsens, with energy costs and inflation affecting performance. Vodafone now sees adjusted Ebitda at EUR 15.0 billion -15.2 billion, from EUR 15.0 billion -15.5 billion previously. Adjusted free cash flow is now seen at around EUR 5.1 billion, from around EUR 5.5 billion.
The board of directors declared an interim dividend of 4.50 European cents for the period, unchanged from the same period last year.
Write to Kyle Morris at [email protected]
