Vodafonewatch

Guidance: H1 pace allows for H2 slowdown as Vodafone moves into cleaner air

2025-11-20T14:22:00

Guidance: H1 pace allows for H2 slowdown as Vodafone moves into cleaner air

Source: Vodafone

Q2/H1 FY25–26: Group reaffirms FY outlook but expects to hit the upper end of earnings and free cash flow targets, buoyed by a strong first half that allows for lower growth in Q3 and Q4. Outgoing CFO Luka Mucic weighs prospects after he leaves and finds ‘net positives’…

This article includes:

  • Themes: Adjusted EBITDA after leases (EBITDAaL); Earnings guidance; Emerging market slowdown; Financial outlook; Free cash flow; FY25–26 forecast; Merger synergies; Operational performance; Strategic forecasting; UK B2B performance.
  • Events: Vodafone Group earnings report Q2/H1 FY25–26.
  • People: Luka Mucic; Pilar Lopez.
  • Geographic: Germany; Turkey; UK.
  • Organisations: Vodafone; Vodafone Germany; VodafoneThree.

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