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Home » Vodafone Group (VOD) CEO Vittorio Colao on Q1 2015 Results – Earnings Call Transcript

Vodafone Group (VOD) CEO Vittorio Colao on Q1 2015 Results – Earnings Call Transcript

Source: Seeking Alpha

 

Vodafone Group (NASDAQ:VOD)

Q1 2015 Earnings Conference Call

July 25, 2014 4:30 a.m. ET

Executives

Vittorio Colao – Chief Executive

Nick Read – Chief Financial Officer

Steve Pusey – Chief Technology Officer

Philipp Humm – Regional CEO Europe

Analysts

Akhil Dattani – JPMorgan

Tim Boddy – Goldman Sachs

Nick Delfas – Redburn Partners

Justin Funnell – Credit Suisse

James Ratzer – New Street Research

David Wright – Bank of America

James Britton – Nomura

Simon Weeden – Citigroup

Robert Grindle – Deutsche Bank

Andrew Beale – Arete Research

Jerry Dellis – Jefferies

Lawrence Sugarman – UBS

Adam Rumley – HSBC

Paul Marsch – Berenberg Bank

Ottavio Adorisio – Societe Generale

John Karidis – Oriel Securities

Operator

Welcome to the Vodafone Group analyst and investor conference call. Your host today is Vittorio Colao, CEO of the Vodafone Group. Please go ahead, Mr Colao.

Vittorio Colao – Chief Executive

Good morning everybody. Welcome to our interim management statement for the first quarter of ’14-’15. I will take you through the highlights and update you on our strategic and commercial developments and our views on the current regulatory environment, then Nick will update you on our financial performance and take you through the trends in our six key markets. He will also provide some country by country detail on the progress of Spring. We’ll then close and move to Q&A for which Nick and I will be joined by Philipp and Steve who are here with us.

So I will start with Slide 4: highlights for the quarter. Group organic service revenue was down 4.2% compared to 4% in the previous quarter, excluding mobile termination rates, was 2.9% in Q1. We continue to see strong growth in our emerging markets driven by continued customer growth and data usage.

Growth in AMAP was 4.7% or 6.2% excluding MTRs. This growth rate was, as expected, slightly down on the previous period due to the lapping of prior year prices rise in India and the impact of MTRs in South Africa.

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