Vodafone slightly exceeded analysts’ expectations on the day it announced its annual earnings after acquiring major investors in the Middle East.
By the end of March, the company had sales of € 45.6 billion (£ 38.4 billion). Experts expected this to reach € 45.4 billion (£ 38.2 billion).
The company told shareholders on Tuesday that this was due to growth in Europe and Africa.
Chief Executive Officer Nick Reed said: Said.
Profit before tax decreased from € 4 billion (£ 3.37 billion) to € 4.4 billion (£ 3.7 billion).
Vodafone’s performance is strong and shows good financial conditions throughout the year.Richard Flood, Brewin’s Dolphin
But the worst hasn’t come yet, especially for telecommunications giants who have warned of a blow this year, especially due to rising inflation.
“The current macroeconomic situation presents certain challenges, especially inflation, which could impact next year’s performance,” the company said.
Reed added: “We are not affected by the macroeconomic challenges of Europe and Africa, but we are in a good position to manage them and look forward to providing resilient financial performance next year. ..
“Our short-term investment and portfolio priorities remain unchanged from those reported six months ago.
“We are focused on improving our performance in Germany, actively pursuing opportunities at Vantage Towers and strengthening our market position in Europe.”
One indicator – EBITDA (interest, tax, depreciation, depreciation and pre-lease revenue) – Vodafone’s profits this year range between € 15 billion (£ 12.6 billion) and € 15.5 billion (£ 13 billion). I expect it to be.
Last year, that number reached 15.2 billion (£ 12.8 billion).
Richard Flood, Chief Investment Officer of Brewin Dolphin, said:
“We will see if we can overcome the headwinds of rising energy and labor costs as consumer sentiment weakens and profit margins are squeezed by high inflation around the world.”
Stocks fell 1.5% after the market opened in London.