Feeds

Mobo monster Vodafone takes £6bn kick down south

Spaniards, Italians just not as talkative these days

3 Big data security analytics techniques

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). ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.