Vodafone Reports Strong Q3 Performance, Reaffirms Guidance, and Announces Major Safaricom Acquisition

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Vodafone Group delivered a strong Q3 FY26 trading update, exceeding expectations with robust service revenue growth across Europe and Africa. The company reiterated its full-year guidance, expecting to achieve the upper end of its profit and cash flow targets. Critically, the filing disclosed Vodacom's agreement to acquire an effective 20% stake in Safaricom Plc for approximately €1.81 billion, a significant strategic move to gain controlling ownership of a leading African telecoms and financial services business. Additionally, Vodafone Türkiye secured 5G spectrum for €539 million, positioning it for future growth. These substantial strategic investments, coupled with positive operational momentum and ongoing share buybacks, signal strong confidence in the company's future trajectory and strategic execution.

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• Strong Q3 FY26 Trading Update

  Group service revenue grew 7.3% to €8.5 billion, with organic service revenue up 5.4%. Adjusted EBITDAaL increased 2.3% organically in Q3, with strong contributions from Africa and Türkiye, and reacceleration in Other Europe.

• Guidance Reaffirmed at Upper End

  The company expects to deliver at the upper end of its FY26 financial guidance for Adjusted EBITDAaL (€11.3-11.6 billion) and Adjusted free cash flow (€2.4-2.6 billion).

• Major Safaricom Acquisition Announced

  Vodacom Group agreed to acquire an effective 20% of Safaricom Plc for approximately €1.81 billion, aiming for controlling ownership of Kenya's leading telecoms and financial services operator. This is a significant strategic expansion in Africa.

• Significant 5G Spectrum Investment in Türkiye

  Vodafone Türkiye acquired 100 MHz of 5G spectrum for US$627 million (€539 million), with payments phased over three years, to launch 5G services in 2026 and renew existing spectrum holdings until 2042.

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Vodafone Group delivered a strong Q3 FY26 trading update, exceeding expectations with robust service revenue growth across Europe and Africa. The company reiterated its full-year guidance, expecting to achieve the upper end of its profit and cash flow targets. Critically, the filing disclosed Vodacom's agreement to acquire an effective 20% stake in Safaricom Plc for approximately €1.81 billion, a significant strategic move to gain controlling ownership of a leading African telecoms and financial services business. Additionally, Vodafone Türkiye secured 5G spectrum for €539 million, positioning it for future growth. These substantial strategic investments, coupled with positive operational momentum and ongoing share buybacks, signal strong confidence in the company's future trajectory and strategic execution.