(News Bulletin 247) – The Vodacom group, a subsidiary of Vodafone, presented its preliminary results for the financial year ended March 31, 2023. The Group’s turnover is 119.2 billion rand, up 16, 0%, positively impacted by the acquisition of Vodafone Egypt and the depreciation of the rand.
Group services revenue growth was up 17.2% or 7.2% excluding Vodafone Egypt, supported by revenue from data services and financial services.
Financial services revenue increased by 29.2% to R9.9 billion, contributing 10.5% to group services revenue.
Group EBITDA growth was 13.2% or 6.0% excluding Vodafone Egypt, reflecting a marked improvement in profitability in the second half.
Free cash flow is up 18.3%.
Shameel Joosub, Chief Executive of Vodacom Group, commented: ‘Looking ahead, the operating environment we face demands unwavering focus. We continue to ensure that we have the right measures in place to help mitigate the impacts of global macroeconomic risks.’
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