By Kyle Morris

 

Vodafone Group PLC said Wednesday that third-quarter performance was in line with expectations and that it is on track to meet fiscal 2022 guidance.

The U.K.-based telecommunications company said that group service revenue growth for the period ended Dec. 31 was 2.7% on an organic basis, with growth in both Europe and Africa.

Organic service revenue growth in Germany was 1.1%, it said.

Total revenue for the quarter was 11.68 billion euros ($13.17 billion) compared with EUR11.20 billion a year earlier.

The company reaffirmed fiscal 2022 guidance with adjusted earnings before interest, taxes, depreciation and amortization after leases--which strips out exceptional and other one-off items--expected between EUR15.2 billion-EUR15.4 billion and adjusted free cash flow of at least EUR5.3 billion.

"We remain focused on our operational priorities to strengthen commercial momentum in Germany, accelerate our transformation in Spain and position Vodafone Business to maximize EU recovery funding opportunities. We are also committed to creating value for our shareholders through proactive portfolio actions and continuing to improve returns at pace," Chief Executive Nick Read said.

 

Write to Kyle Morris at kyle.morris@dowjones.com

 

(END) Dow Jones Newswires

February 02, 2022 02:38 ET (07:38 GMT)

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