Vodafone TV customers down 656,000 in 1Q 2024
Tuesday, May 14th, 2024![Vodafone logo Vodafone logo](https://www.digitaltvnews.net/wp-content/uploads/logos/vodafonecom.jpg)
VodafoneGroup Plc has announced FY24 preliminary results, for the year ended 31 March 2024.
Germany
Total revenue decreased by 1.2% to €13.0 billion, driven by lower equipment revenue. Service revenue grew by 0.2% (Q3: 0.3%, Q4: 0.6%) as the contribution from higher broadband ARPU was largely offset by the cumulative impact of broadband and TV customer losses and lower regulated rates for terminating mobile calls. Growth improved in Q4, as higher consumer mobile ARPU and customer base growth was partially offset by a 0.9 percentage point impact from the end to bulk TV contracting in Multi Dwelling Units(‘MDUs’).
Fixed service revenue increased by 0.3% (Q3: 1.0%, Q4: -0.2%) as broadband ARPU growth was partially offset by the impact of a lower broadband and TV customer base. The slowdown in fixed service revenue growth in Q4 was primarily driven by a 1.7 percentage point impact from changes to German TV laws.
Ahead of changes to German TV laws, which take effect from July 2024 and change the practice of bulk TV contracting in MDUs, we have started migrating end users to new contracts at scale. Based on our experience to date, we expect to retain around 50% of the 8.5 million MDU TV households. At the end of March 2024, we had already actively retained 1.9 million households. Our total TV customer base declined by 1.0 million during the year, primarily due to the MDU transition, which began in the last quarter of FY24.
TV customers – Europe
TV Customers (thousands)
Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 ------- ------- ------- ------- ------- ------- ------- ------- ------- Germany 13,172 13,093 13,007 12,895 12,760 12,640 12,547 12,411 11,758 Portugal 808 819 833 846 852 861 871 881 886 Other 1,729 1,733 1,747 1,737 1,733 1,728 1,720 1,714 1,706 Europe* 15,709 15,645 15,587 15,478 15,345 15,229 15,138 15,006 14,350
Net Additions (thousands)
Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 ------- ------- ------- ------- ------- ------- ------- ------- ------- Germany (133) (79) (86) (112) (135) (120) (93) (136) (653) Portugal 12 11 14 13 6 9 10 10 5 Other (6) 4 14 (10) (4) (5) (8) (6) (8) Europe* (127) (64) (58) (109) (133) (116) (91) (132) (656)
* Europe totals exclude TV customers from Italy, Spain, and Hungary.
Other businesses: VodafoneZiggo (Netherlands)
TV Customers (thousands)
Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 ------- ------- ------- ------- ------- ------- ------- ------- ------- 3,705 3,691 3,670 3,665 3,645 3,612 3,573 3,525 3,492 (25) (14) (21) (5) (20) (33) (39) (48) (33)
Links: Vodafone
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