Telecom major Vodafone Group Plc (VOD.L,VOD) reported Tuesday a pre-tax profit in fiscal 2026, compared to prior year's loss, while attributable loss sharply narrowed from last year.
The results mainly reflected the absence of prior year's impairment charges and higher revenues.
Looking ahead for the mid term, the company projects growth in Adjusted EBITDAaL and revenues.
The company said, "Our growth portfolio gives us the confidence in our medium-term ambition to deliver double-digit Adjusted free cash flow growth, driving continued Adjusted free cash flow growth in euro terms."
In the full year, profit before taxation was 1.86 billion euros, compared to prior year's loss of 1.48 billion euros.
On an after-tax basis, the company recorded loss attributable to Owners of the parent of 397 million euros, sharply narrower than prior year's loss of 4.17 billion euros.
Basic loss per share was 1.65 eurocents, compared to loss of 15.94 eurocents a year ago.
On a continuing operations basis, profit for the financial year was 59 million euros, compared to loss of 3.72 billion euros last year. Basic loss per share from continuing operations was 1.20 eurocents, compared to a loss per share of 15.86 eurocents in the prior year.
Adjusted basic earnings per share was 10.72 eurocents, compared to 7.87 eurocents in the prior year.
Operating profit was 2.84 billion euros, compared to loss of 0.41 billion euros a year ago. Adjusted EBITDAaL increased 3.8 percent year-over-year to 11.4 billion euros, and the growth was 4.5 percent on an organic basis, driven by service revenue growth, only partially offset by continued commercial investment.
Total revenue increased 8 percent to 40.46 billion euros from last year's 37.45 billion euros, due to 8.8 percent service revenue growth and the consolidation of Three UK, partially offset by foreign exchange movements.
Further, the company announced that the Board has declared total dividends of 4.6125 eurocents in fiscal 2026, a 2.5 percent increase year-on-year.
The final dividend is 2.3625 eurocents compared to 2.25 eurocents in the prior year. The record date is June 5 and the dividend is payable on July 30.
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