Vodafone’s cable investments contribute to recovery

Vodafone’s cable investments in Germany and Spain helped boost its first fiscal quarter performance, along with more stable pricing in key markets.

Vodafone’s first fiscal quarter results performance in Germany benefited from the inclusion of Kabel Deutschland, which added 102,000 broadband net additions in the quarter. Fixed service revenue including KDG grew by 0.2%, offsetting a decline in the operator’s DSL business. Fixed service revenue excluding KDG declined by 4.8%.

In Spain, Vodafone added 80,000 new cable and fibre customers in the quarter, and signed up 291,000 customers to its new Vodafone One converged offering. Fixed service revenue grew by 4.2% in the quarter, down slightly on the fourth quarter growth rate of 5.8%, which excluded Ono.

Vodafone’s overall Europe-wide service revenue continued to recover in the quarter, declining by 1.5% as against 2.6% in the fourth quarter.

Vodafone now has 12.3 million fixed broadband customers, including 11.5 million in Europe, where it added 216,000 customers in the quarter.