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Vodafone IoT Reports EUR 0.9 Bln Annual Revenue With Double-digit Revenue Growth

Vodafone IoT currently generates 0.9 billion euros annual revenue with double-digit revenue growth and a strong double-digit ROCE. The total addressable market is 10 billion euros and expected to grow 16% per annum, with further stimulus from the NextGenerationEU recovery plan funding, supporting Vodafone's further expansion into end-to-end IoT services, Vodafone Group Plc. (VOD.L,VOD) said in a statement.

Alex Froment-Curtil, Vodafone Group Chief Commercial Officer, said, "Further deepening our customer relationships is the foundation to delivering our medium-term financial ambitions to grow revenue in both Europe and Africa, mid-single digit EBITDAaL growth and to improve our return on capital."

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