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Vodaphone Business targets 8% growth in €100 billion markets

By BFN News | 07:51 AM | Thursday 18 March, 2021

Vodafone Group told investors that its Vodaphone Business operation can deliver c8% pa growth in addressable markets totalling over €100 billion. The virtual briefing spelt out how it had the scale, expertise and technology to successfully compete in these attractive markets. Over the last three years Vodaphone Business, which represents 28% of the group?s service revenue, had delivered service revenue growth (excluding roaming and visitor revenue) of 3.2% in Q3 FY21, with total service revenue now over €10bn. It said its strategy is 'grounded in our purpose to connect for a better future and is focused on three core elements. Firstly, to be the trusted partner for small and medium-sized enterprises. Secondly, to be the gigabit connectivity provider of choice to large enterprises. Thirdly, to be the leading end-to-end provider of IoT solutions for every organisation'. Vodaphone Business added its medium-term financial ambitions were to: deliver above-market revenue growth in fixed & mobile connectivity; double-digit revenue growth in cloud, security, IoT and unified communications services; optimise its balance of EBITDA growth and EBITDA margin; and invest in high marginal ROCE opportunities, to deliver consistent ROCE growth. Vinod Kumar, Vodafone Business CEO, said: 'The events of the last year have highlighted the critical role that fast, reliable and secure connectivity plays in powering businesses, governments and our essential public services. We responded rapidly and comprehensively, supporting a step-change in our commercial performance. We are on a clear growth pathway that will connect people, places and things for a better future and create sustainable value for our shareholders.' Story provided by

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