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Vodafone on Thursday said revenue growth in Germany and a strong contribution from Türkiye and Africa in its third quarter kept the group on track to deliver full-year earnings and cash flow at the upper end of its guidance, according to a Reuters report on Thursday.
The UK-based telecom group, whose shares have risen 73% over the past 12 months, reported a 6.5% increase in total group revenue to 10.5 billion euros ($12.4 billion). The rise was supported by Africa operations and the consolidation of Three UK, the mobile network it merged with in Britain last year.
Vodafone reiterated that it expects adjusted core earnings and free cash flow for the year ending in March to come in at the upper end of its guidance ranges of 11.3 billion to 11.6 billion euros and 2.4 billion to 2.6 billion euros, respectively.
The company said the next 500 million euro tranche of its share buyback program would begin Thursday, after completing 3.5 billion euros in buybacks since May 2024.
Vodafone said its Türkiye unit continues to be a key contributor. The company announced that total investment in Türkiye has exceeded 480 billion lira ($11.23 billion) in real terms, making it one of the largest foreign direct investment commitments in the Turkish market.
The group said it remains focused on long-term value creation and technological advancement ahead of its 20th anniversary in Türkiye in 2026, with particular emphasis on launching 5G services by that year.
Vodafone entered the Turkish market in 2006 through the acquisition of local operator Telsim in a deal valued at $4.5 billion.
Vodafone Türkiye CEO Engin Aksoy has said the company’s contribution to Türkiye’s digital transformation remains a strategic priority, describing 2026 as its “5G year.”
Aksoy said Vodafone plans to leverage its global capabilities, robust infrastructure and local market expertise to ensure a smooth customer experience during the rollout. He added that a successful transition to 5G requires a well-structured fixed broadband policy and equal access to infrastructure, which he described as critical for sector-wide progress.
Vodafone Türkiye purchased two spectrum packages in the 5G tender held in October, with a total bid of $627 million.
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Between April and September 2025, Vodafone Türkiye reported service revenues of 64.8 billion lira ($1.51 billion) and earnings before interest, tax, depreciation and amortization of 23.7 billion lira.
The company serves 25.5 million mobile subscribers and 1.4 million fixed broadband users. It also operates a broad ecosystem of suppliers and partners, with an estimated 50 billion lira in procurement volume and around 36,000 indirect jobs supported across its network.
Vodafone said it will begin offering fiber internet to an additional 1.3 million households next month under a new infrastructure agreement with state cable operator Turksat. The expansion is expected to extend coverage to 23.7 million homes, including shared networks, as the company targets the widest fiber footprint in Türkiye.
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