Feeds

Vodafone's Euro revenues slump by nearly TEN PER CENT

Project Spring fails to insert itself into firm's financial step

Beginner's guide to SSL certificates

Vodafone's latest results make grim reading for the company's investors, with revenues in established markets falling and subscribers drifting away despite the firm's 4G investments.

The British mobe operator's service revenues fell in Europe by 9.6 per cent and was only partially offset by gains in India and Turkey.

The group ended 2013 booking £10.97bn in revenue of which £9.856bn was service revenue in the final quarter, leaving it with £1bn free cash.

Overall group revenue fell by 4.8 per cent quarter-on-quarter. Vodafone blamed EU regulators and the slump for its European doldrums.

UK revenue was down 5.1 per cent, in Germany by 7.9 per cent and Spain and Italy the fall was well into the teens. The Australian operation, a joint venture with Hutchison, saw revenue fall by 8 per cent.

In the UK Voda has 19.3m subscribers, down around 100,000 net, with 40.5 per cent on prepaid. Only around 370,000 are on 4G however, compared to EE's 2m LTE customers.

The sale of the group's 45 per cent stake in Verizon gives the mobe giant a pile of cash - $130bn, or around £84bn. But it isn't splurging it all on the network: around £50bn is being returned to investors. It's also spending £7bn on an upgrade program it calls 'Project Spring', although that's largely made up of in-place upgrades from 3G to 4G.

The amount of capex was £1.8bn, up a little from £1.5bn a year ago. Telco analyst Keith McMahon laid into the firm via Twitter:

Voda's debts, including joint ventures, stand at £31.5bn. Without the JVs it's still riding high at £29.8bn.

AT&T and Softbank have been touted as potential buyers for Vodafone - if only for the cash. You can hop over to this PDF for a country-by-country breakdown. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.