Vodafone rises as Africa bulks up, Europe steadies

Joe Purnell2026-08-03T13:08:00

Source: Guilherme Stecanella / Unsplash

Q1 FY26–27 in-depth: Vodafone’s largest markets appear to be moving forward together for the first time under CEO Margherita Della Valle, even if challenges remain. Germany has found firmer footing, UK integration is advancing, and consolidation of Safaricom has strengthened African contribution…

This article includes:

Themes: Adjusted EBITDA after leases (EBITDAaL); Average revenue per user (ARPU); Financial services; Fixed broadband growth; Market turnaround; Mobile money; Mobile network integration; Network sharing; Operating leverage; Organic growth; Service revenue growth; Telecoms consolidation; Value over volume strategy.
Events: Vodafone Group Q1 FY26–27 results.
People: Margherita Della Valle; Shameel Joosub.
Geographic: Africa; Czechia; Democratic Republic of the Congo (DRC); Egypt; Europe; Germany; Greece; Ireland; Kenya; Lesotho; Mozambique; Portugal; Romania; South Africa; Tanzania; Türkiye; United Kingdom (UK).
Organisations: BT/EE; CK Hutchison; Deutsche Telekom (DT/DTAG); Digi; Safaricom; Telecom Egypt; Telekom Romania Mobile Communications (TRMC); Three UK; Virgin Media O2; Vodacom; Vodafone Business; Vodafone Egypt; Vodafone Germany; Vodafone Group; Vodafone Portugal; Vodafone Romania; Vodafone Turkey; VodafoneThree.

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