Feeds

Mobo monster Vodafone takes £6bn kick down south

Spaniards, Italians just not as talkative these days

Choosing a cloud hosting partner with confidence

Vodafone lost almost half-a-billion quid in the six months to November, its half-year results reveal, but it also had to write down £6bn from the value of its operations in southern Europe.

The US is doing OK, and Vodafone will get a dividend payment from Verizon Communications (of which it owns 45 per cent) of £2.4bn, but revenue across southern Europe fell by 17.5 per cent, in part because of the declining euro but also because Europeans, southern Europeans in particular, have less money to spend on phone calls these days.

Despite the loss before tax of £492m, Vodafone still managed an adjusted (EBITDA) profit figure of £6.6bn, on a revenue of 21.78bn, which is down more than 7 per cent on last year.

Vodafone will spend part of that Verizon dividend buying back its own shares, which will be cheaper this morning, having fallen 3.3 per cent on the back of the disappointing results.

Operations in Turkey and India are doing OK, with revenues there increasing by 18 and 11 per cent respectively, and data revenue is also up. However in Europe, 45.5 per cent of revenue is now coming from tariffs, the rest being slurped from out-of-tariff communications as well as all the other things that Vodafone sells these days.

In the UK, revenue was down just over 2 per cent, which Vodafone blames on increased competition including "significant pressure resulting from competitors introducing a number of new unlimited tariffs during Q4 of the 2012 financial year", though it also reckons the new "Vodafone Red" tariff will redress that.

Full details in the half-year financials (PDF, more boring than they sound). ®

Beginner's guide to SSL certificates

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.