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Vodafone Q3 Interim Management Statement: slowing less quickly - Venture Insights

Report Overview

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Vodafone Q3 Interim Management Statement: slowing less quickly

PublisherEnders Analysis.
Publish Date February 3, 2009
Sector Fixed Line (Internet and Voice), Mobile and Wireless Technology.
Company vodafone.

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Vodafone’s December quarter KPIs showed only slightly worse underlying European revenue growth compared to last quarter, with another plummet in growth in Spain moderated by improving figures in Germany.

In the context of GDP growth across its markets being considerably worse, this is a relatively good performance, with its market share loss likely to prove less severe than last quarter.

However, its growth is still very substantially worse than earlier in the year, even compared to GDP, and with GDP declines set to worsen through 2009, and termination rate cuts to bite again in the second half of 2009, growth is likely to decline further.