Vodafone Ireland service revenue rises as company increases broadband base
Mobile and broadband provider Vodafone said service revenue in Ireland rose in the year to the end of March as the company built on its broadband customer base.
The company said improved customer loyalty also supported revenues, although growth was partially offset by lower mobile termination rates.
Vodafone Ireland's customer base rose by 18,000 over the year, while broadband customers increased by 22,000. The company also has a fixed wholesale network access partnerships, including a joint venture with Siro, that covers 1.7 million households in Ireland with fibre to the home.
The wider group said it expected to return to top-line growth in Germany, its largest market, this year, driving an increase in cash flow after it said it met expectations for the year to end-March on Tuesday.
READ MORE
The group, which operates in Europe and Africa, reported adjusted core earnings of €10.9 billion, which it said met its €11 billion target when hyperinflation in Turkey was taken into account.
Chief executive Margherita Della Valle has reshaped Vodafone by selling its operations in Spain and Italy and agreeing a merger in Britain, where it will become the mobile market leader when the deal completes in the next few weeks.
But it was hit by a one-off change in German cable TV contract rules, resulting in a 5 per cent decline in service revenue in the country in the last financial year.
'Looking ahead, we expect to see broad-based momentum across Europe and Africa, and for Germany to return to top-line growth during this year,' she said. - Additional reporting: Reuters
(c) Copyright Thomson Reuters 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
37 minutes ago
- Irish Times
Warnings about corporation tax fall on deaf ears as money keeps rolling in
The Irish public might well have become desensitised to warnings about corporate tax . We've had 10 years of warnings about the concentration risk at the heart of the business tax base – the dangers of having such a large chunk of State income hanging on the fortunes of just a few firms – but it's not obvious anyone is listening any more. And not when receipts keep rising and rising in the face of these warnings. Last year, they reached a record €28 billion (excluding the €11 billion that flowed in from the Apple tax case). And even now, with a tariff-loving, America-first Donald Trump in the White House promising a big clampdown on US multinationals that have offshored their manufacturing operations to the Republic and elsewhere, our corporate tax receipts are projected not to fall but to keep rising. READ MORE The Irish Fiscal Advisory Council (Ifac) says it is predicting another surge in receipts on the back of several favourable trends. First, it expects receipts to rise by about €5 billion from 2026 onwards as additional revenue from the new global minimum tax rate of 15 per cent flows into the exchequer. It also noted that most of the big taxpayers here are not affected by trade tensions and are forecast to report increased profits this year, resulting in higher tax payments this year and beyond. Many of these firms have also been availing of generous tax-cutting capital allowances which are due to run out, meaning they will be liable for more tax. And finally, the current surge in pharmaceutical exports, which jumped by 154 per cent in the first quarter as firms rushed to get merchandise into the US before tariffs, is likely to result in bigger tax payments this year. How to manage your pension in these volatile times Listen | 37:00 Ifac chairman Seamus Coffey said the State's corporate tax base was between €28 and €30 billion, but 'go four or five years you could have a forecast range of plus or minus €15 billion.' If the plus margin of error pertains, that points to a corporate tax base of €40 billion, eight times what it was a decade ago. All of which begs the question: are we making the best use of this seemingly evergreen windfall?
Irish Times
37 minutes ago
- Irish Times
Bidding war for Dalata Hotel Group hots up
A week ago, the board of Dalata Hotel Group rejected a €1.3 billion bid from the Nordic Pandox consortium , which had tabled a €6.05 a share, non-binding cash offer. Dalata, which is led by chief executive Dermot Crowley, said the bid 'materially undervalues the group and its prospects'. The market would seem to agree with the shares closing in Dublin yesterday at €6.25, some 3.3 per cent higher than the Pandox bid. The Irish hotel chain is at the stage of second round bids, having effectively put itself up for sale on March 6th by announcing a strategic review. Seems fair to assume that those bids place a higher value on the company than the Pandox offer. READ MORE The Pandox consortium comprises Swiss hotel operator Pandox and Norwegian real estate group Eiendomsspar, which has a stake of 8.8 per cent in Dalata and a near quarter stake in the bidding consortium. Eiendomsspar first emerged on the Dalata share register in October, the same month as Dalata held an investor day to outline its strategy as a listed company. Pandox's bid was a surprise, with the consortium bypassing the formal sales process in tabling its offer. Its 9 per cent stake isn't in blocking territory to a takeover of the company by a third party, but it could make life difficult for whoever emerges as the preferred bidder from the sales process. How to manage your pension in these volatile times Listen | 37:00 Two other entities – Zahid Group and Helikon – hold 28 per cent of Dalata's shares between them, putting them in blocking territory. Dalata is a well-run, profitable hotel group with a strong track record (Covid years aside). It has paid regular dividends and completed share buybacks, and outlined an ambition to grow its footprint to 21,000 bedrooms by 2030. Yet somewhere along the way, it appears that some long-term investors who weren't impressed by its growth strategy or its decision to pay €84 million for the Radisson Blu hotel at Dublin Airport decided to bail on the group, opening the way for Pandox, Zahid, and Helikon to build their stakes. This process has a long way to play out and a price closer to €7 a share might be required before a winner emerges. The only certainty is that Dalata will be checking out of the stock market.
Irish Times
an hour ago
- Irish Times
Expected changes to local property tax will lead to modest increases for most homeowners
Most homeowners will see modest increases in their local property tax (LPT) next year under changes likely to be approved by the Cabinet this morning to mitigate the effects rising property values have on tax bills. The changes require legislation to widen tax bands and reduce the rate of LPT, Minister for Finance Paschal Donohoe is expected to tell colleagues. Property prices have increased by almost a quarter since the last revaluation of properties for the tax in 2021. Fearing substantial hikes in tax bills, the Government is expected to change the way the tax is calculated ahead of the next date for revaluation on November 1st of this year. Properties on the lower bands – which include the vast majority of houses in the country with valuations under €525,000 – will see their bills increase by €5 and €23 a year. READ MORE Those with properties valued at under €240,000 will pay €95 a year, an increase of €5. Those with properties valued at between €420,000 and €525,000 will pay €428 a year, an increase of €23. Those in higher bands, however, will see their bills increase more sharply. In the top band, properties valued at between €1.995-€2.1 million will pay €3,110, an extra €389 a year. Properties valued above €2.1 million pay based on the valuation of the property, rather than a band. Projections by the Department of Finance suggest the tax will increase by 5-6 per cent for properties under €1.26 million. Local authorities will continue to be permitted to vary LPT downward by 15 per cent. In 2027, they will be permitted to increase the tax by 25 per cent in their area. [ Rent Pressure Zones: Pressure on Government as it proposes to link certain rents to inflation Opens in new window ] The Cabinet is also expected to approve proposed changes to rent caps, which are likely to be fiercely opposed in the Dáil today by Opposition parties. It is understood that Rent Pressure Zones (RPZs) will be extended to cover the entire country, with rent increases linked to inflation and capped at 2 per cent. The Government is also likely to promise new protections for renters, though some housing advocates have warned that the changes will mean higher rents and increased homelessness . In future, sources say, it will be possible to reset rents between tenancies – but only where a tenant leaves voluntarily or has breached their tenancy agreement. There was further worrying news for the Government when AIB's latest construction purchasing managers' index (PMI) warned that the level of home building contracted during May for the first time in nine months amid a wider fall in activity at Irish construction firms. While some firms were able to increase activity, there were signs of 'softening market conditions and uncertainty', leading to a drop in all types of construction activity, AIB said, though the drop in home building was 'only marginal'. However, there was better news from the Irish Fiscal Advisory Council (Ifac), the Government's fiscal and budgetary watchdog. [ Corporate tax receipts forecast to rise despite Trump tariff threat Opens in new window ] It said corporation tax receipts could surge by as much as €5 billion, as a result of changes in the tax rate applying to companies and the rush to export goods to the US ahead of the imposition of tariffs. Big companies will start making payments to the exchequer under the increased 15 per cent corporate tax rate by the middle of next year, Ifac said, while most of the biggest taxpayers here are forecast to report increased profits this year, resulting in higher tax payments. A host of capital allowances used by some of the State's biggest companies are due to expire, while pharmaceutical firms will likely pay more tax this year amid a surge in exports to the US ahead of the possible imposition of tariffs, Ifac added.
