Vodafone Spain billed 965 million euros during the first quarter of its 2023 financial year, which represents a 2.3% drop compared to the same period of the previous year. As explained by the company in a statement on Monday, this represents an improvement of 1.9 percentage points compared to the fourth quarter in which profits had fallen by 4.2%, due to the stabilization of service income and higher income from the sale of terminals.
The Spanish division has communicated its evolution on the same day that the Vodafone Group has presented a service billing of 9,110 million euros in London, which represents a fall of 4.2%, but that in comparative terms excluding the impact of the exchange rate and hyperinflation in Turkey, as well as mergers and acquisitions, Vodafone's service revenues increased by 3.7%.
In Spain, service revenues reached 871 million euros, representing a 3% drop, that is, an improvement of 0.7 percentage points in the first quarter of the year. It is the first time that Vodafone's revenue decline has been halted for the first time in the last four quarters.
The strategy of the new CEO of Spain, Mário Vaz, who took office on April 1, represented a change in strategy for the company, to which the progressive recovery throughout the quarter is attributed, as the impact of the rise in prices on customers faded and due to the tactical measures implemented.
At the end of June 2023, the customer base continued to fall but in a more attenuated way. In the case of mobile contract clients, the reduction reached 86,000 clients. Fixed broadband clients fell by 65,000 clients and the television client base fell by 33,000.
For its part, Lowi maintained its value-focused strategy against ultralowcost operators. Contract mobile customers increased by 13,400.
The British telecommunications operator Vodafone has announced the appointment of Luka Mucic as the new financial director of the group as of September 1.
In this way, the former financial director of the German SAP, a position he held until March 31, will release the CEO of Vodafone, Margherita Della Valle, from these functions, which she was compatible with her position since her appointment as the company's top executive at the end of last April.
