Posts Tagged ‘31 December 2008’

Interim Management Statement for the Quarter Ended 31 December 2008

5 marca, 2009 in Uncategorized
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Interim Management Statement for the Quarter Ended 31 December 2008
03 February 2009

Key highlights:

Group: Revenue of £10,470 million, up 14.3%
Pro forma service revenue growth including India of 1.4%
Group data revenue of £786 million, up 25.3% on an organic basis
Proportionate mobile customer base of 289.0 million at 31 December 2008, up 9.5 million in the quarter
Europe: Service revenue up 15.0%, driven by strong foreign exchange
Organic service revenue down 1.4%; trends broadly similar to second quarter in a weaker market environment
Solid results in Germany and Italy and stabilised results in the UK offset continuing weakness in Spain
Africa & Central Europe: Service revenue up 6.1%
Continued good growth in Vodacom offset by Turkey
Asia Pacific & Middle East: Service revenue up 27.9%
Record customer growth in India; service revenue growth of 29.6% at constant exchange rates
Verizon Wireless: Service revenue up 12.2%; data revenue up 49.4%, both in local currency
Alltel acquisition completed on 9 January 2009
Strategy: Good early progress on all objectives, including £1 billion cost saving programme
Outlook: Underlying ranges confirmed. Increased guidance to reflect foreign exchange environment
Adjusted operating profit in the range of £11.5 billion to £12.0 billion, an increase of £0.5 billion
Free cash flow in the range of £5.5 billion to £6.0 billion, an increase of £0.3 billion
Vittorio Colao, Chief Executive, commented:

“Our underlying performance showed similar trends to the previous quarter, with pro forma service revenue up 1.4% including India and at constant exchange rates. In the context of the current economic environment, we have continued to implement our strategy, with an emphasis on customer value, mobile data, Enterprise and fixed broadband. This has driven increased usage, 25% organic growth in data revenue and over 280,000 fixed broadband additions in Europe. We have also made progress on our plans to reduce costs by £1 billion by March 2011. Underlying guidance is confirmed.”