May 14, 2019 / 08:00AM GMT
Nicholas Jonathan Read - Vodafone Group Plc - CEO & Executive Director
Well, good morning, everyone. Thank you for attending today. As usual, I intend to go through our commercial performance, and then Margherita will go through our financial overview, and then I want to talk about the progress we're making on our strategic execution.
Overall, while no one at Vodafone is pleased with the share price development, I am encouraged by the pace of our execution of our new strategy that I outlined in November, which I plan to expand on in a moment.
In terms of our financial performance, we faced a challenging competitive environment in Spain and Italy as well as increased headwinds in South Africa. However, we delivered good growth in most of our other markets allowing us to deliver the EBITDA and free cash flow guidance for the year. But clearly, top line growth weakened during the year, and spectrum costs were high. Combined, this had an effect of reducing our financial headroom. Vodafone is at a key point in its transformation, and it's critical that we have sufficient headroom to
Full Year 2019 Vodafone Group PLC Earnings Call Transcript
Feb 15, 2024
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