Vodafone increases revenue by eight per cent in FY26

Rise due to strong service revenue growth and consolidation of Three UK. Vodafone increased its total revenue by eight per cent to €40.5 billion in FY26. The rise was due to strong service revenue growth and the consolidation of Three UK, partially offset by foreign exchange movements. The company also grew its service revenue by 8.8 per cent to €33.5 billion (FY25: €30.8 billion). On an organic basis, it increased 5.4 per cent with growth in all segments except Germany. In the UK, total revenue advanced 30 per cent to €9.2 billion due to the consolidation of Three UK’s financial results following the completion of the merger on 31 May 2025. However, Vodafone Business service revenue declined 2.3 per cent. On an organic basis, its service revenue decreased 4.5 per cent due to the impact of planned managed services contract terminations during FY26 and continued mobile ARPU pressure from lower inflation-linked price increases and contract renewals. There was also lower Vodafone Business project activity, including a strategic change by a large customer. UK organic service revenue increased 0.3 per cent, with growth in its consumer and wholesale segments partially offset by business decline due to planned managed services contract terminations. Vodafone also grew its global business segment’s organic service revenue by 3.2 per cent, with double digit growth in digital services. Additionally, the company reported adjusted EBITDAaL increased by 3.8 per cent to €11.4 billion (FY25: €10.9 billion) and by 4.5 per cent on an organic basis, driven by service revenue growth and only partially offset by continued commercial investment. Margherita Della Valle, group chief executive of Vodafone, said, “After the transformation of the last three years, we are now a simpler company with a stronger growth outlook. “Our strategic progress has generated good group service revenue momentum for the year, together with profit and cash flow at the upper end of our guidance range. We returned to top line growth in Germany, alongside strong performances across Africa and in Türkiye. Our early successes from the UK merger integration reinforce our confidence in its potential and I am delighted that we are now gaining full ownership. “Looking ahead, we will continue to drive continuous improvements across our business, with customer experience as our number one priority. We are now well set for mid-term growth.”