Vodafone Group Q3 Organic Service Revenue Up 0.1% Excl. Items - Quick Facts

(RTTNews) - Vodafone Group Plc (VOD.L, VOD) announced, for the quarter ended 31 December 2018, on a statutory basis, Group revenue decreased by 0.8 billion euros to 11.0 billion euros due to the adoption of IFRS15, the sale of Qatar and FX headwinds. On an IAS 18 basis, Group organic service revenue declined by 0.8%, but grew 0.1% excluding the impact of UK handset financing. On an IFRS15 basis, revenue growth was 0.4%, for the quarter.

Vodafone Group stated that its trading during the third quarter was in-line with management's expectations underlying the outlook statement for the 2019 financial year. The Group confirmed its expectation that organic adjusted EBITDA on an underlying basis (excluding settlements and UK handset financing, IAS 18 basis) will grow by around 3%, with free cash flow generation (pre-spectrum) of around 5.4 billion euros. Under IFRS 15, the Group expects organic service revenue growth will be slightly higher and absolute adjusted EBITDA will be slightly lower, primarily due to the elimination of the impact of UK handset financing under IAS 18, with no impact on FCF.