By Adria Calatayud 
 

Vodafone Group PLC said Friday that first-quarter revenue rose as growth in its closely-watched organic revenue accelerated, and that it is on track to meet its guidance for fiscal 2022.

The U.K.-based telecommunications group said revenue for the three months ended June 30 was 11.10 billion euros ($13.07 billion) compared with EUR10.51 billion for the same period last year. On an organic basis, Vodafone's first-quarter revenue grew 5.6% on year.

Vodafone's organic service revenue--a key metric in the telecom sector--grew 3.3% in the quarter, accelerating from a 0.8% increase in the previous quarter. In Germany, Vodafone's largest market, service revenue was up 1.4%.

The company said roaming and visitor revenue grew 56% on year, but is still sharply below pre-pandemic levels.

Vodafone said it is on track to deliver its guidance for adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred profit metric, which strips out exceptional and other one-off items--for fiscal 2022 of between EUR15.0 billion and EUR15.4 billion, with an adjusted free cash flow of at least EUR5.2 billion.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

July 23, 2021 02:28 ET (06:28 GMT)

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