Because the accounts of Vodafone Italia are crying

16 November 20203 years ago babelfish

How Covid influences the revenues of Vodafone Italia, which is also affected by competition in the mobile segment.

While the Vodafone group celebrates its return to profit in the first half of 2020-2021, which ended on September 30, Vodafone Italy is facing decreasing revenues due to the Covid-19 pandemic. The result, in fact, is affected by the reduction in roaming traffic and competitiveness in mobile.

All the details.

GROUP IN PROFIT

Let's start with the group. Vodafone closed the first half of 2020-2021, as at 30 September, with a net profit of 1.555 billion euros compared to the loss of 1.891 billion the year before. The pre-tax result was positive for 2.05 billion euros.

Adjusted operating profit also grew, which recorded a + 51% to 2.54 billion compared to the previous 1.68 billion.

REVENUES INFLUENCED BY COVID-19

On the other hand, revenues fell to 21.42 billion euros in the half year (-2.3%).

THE RESULTS OF VODAFONE ITALIA

The revenues of Vodafone Italia are also down, to 2.249 billion euros, to minus 7.2%, in the semester ended 30 September 2020. Ebitda drops to 800 million euros (-11.1%) in organic terms .

ROAMING AND COMPETITIVENESS

To weigh on the performance, explains the same company, is the “reduction of roaming traffic caused by the impact of the pandemic on the flows of foreign visitors entering and leaving Italy”, but also the persistent competitive intensity on the mobile front.

ho.Mobile, Vodafone's second brand, has reached 2.2 million customers.

THE FIXED NETWORK IS GROWING

But it is on the fixed network front that Vodafone Italia does best. Revenues from fixed network services, in fact, grew by 4.4%, to 611 million euros.

Specifically, broadband customers reach 3 million, up 4.2% compared to the same half of the previous year (+118,000).

THE PARTNERSHIP

News for Vodafone Italia on the partnership front. The company has signed a partnership with PostePay, the first virtual operator in Italy with over 4 million mobile SIMs, allowing PostePay to switch to the Vodafone network.

Vodafone Business has also signed an agreement with BNL Gruppo BNP Paribas to implement the Bank's digital transformation plan.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/primo-piano/perche-i-conti-di-vodafone-italia-piangono/ on Mon, 16 Nov 2020 14:10:24 +0000.