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Vodafone sees decline by 7.4 pct, forecasts further decrease

English.news.cn   2014-05-21 11:49:43

LONDON, May 20 (Xinhua) -- Vodafone Group announced Tuesday that its earnings before interest, taxes, depreciation and amortization (EBITDA) in the financial year ending March 31, 2014 declined by 7.4 percent over the previous year to 12.8 billion pounds (21.5 billion U.S. dollars).

The British mobile telecom carrier also forecasts another earnings decrease this year.

The Group's revenue was down by 1.9 percent to 43.6 billion pounds in financial year 2013-2014, said Vodafone in a statement.

Vodafone registered an adjusted operating profit of 7.9 billion pounds, including 3.2 billion pounds yielded from disposal of Verison Wireless last September, data showed.

In the financial year ending March 2015, however, the Group's EBITDA will fall to a range of 11.4 billion pounds to 11.9 billion pounds, forecasted Vodafone.

"Our operational performance has been mixed," commented Vittorio Colao, Chief Executive Officer of Vodafone. "The Group's emerging markets businesses have performed strongly throughout the year: we have executed our strategy well and have successfully positioned ourselves for the rapid growth in data we are now witnessing."

While "in Europe, where we continue to face competitive, regulatory and macroeconomic pressures, we have taken steps to improve our commercial performance, particularly in Germany and Italy, and are beginning to see encouraging early signs," said Colao.

The group's shares traded on London Stock Exchange went down by 5.46 percent Tuesday, topping the losers of FTSE 100 Index.

Editor: Mengjie
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