Vodafone Group Fiscal Year 2022 Adjusted Earnings Rose on Revenue Growth, Cost Control

By Kyle Morris

Vodafone Group PLC said Tuesday that fiscal 2022 adjusted Ebitda rose on revenue growth and strong cost control.

The U.K. telecommunications group made a pretax profit for the year to March 31 of 3.95 billion euros ($4.12 billion) compared with EUR4.4 billion a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization--which strips out exceptional and other one-off items--for the year was EUR15.21 billion compared with EUR14.39 billion.

Revenue was EUR45.58 billion, from EUR43.81 billion.

Analysts had expected Vodafone to report adjusted Ebitda of EUR15.28 billion on revenue of EUR45.44 billion, according to a consensus of 15 analysts' estimates provided by the company.

The macroeconomic climate presents challenges, particularly inflation, and is likely to hit financial performance in the year ahead, it said.

For fiscal 2023, Vodafone expects adjusted Ebitda of between EUR15.0 billion and EUR15.5 billion and adjusted free cash flow around EUR5.3 billion.

The full-year dividend was 9 European cents, flat on year.

Write to Kyle Morris at [e-mail]

(END) Dow Jones Newswires

May 17, 2022 02:41 ET (06:41 GMT)

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