Vodafone’s turnover reached 11,638 million euros between October and December 2022, the third fiscal quarter of the British operator, which represents a year-on-year decline of 0.4%, according to the company.

However, in organic terms, which present the results on a comparable basis, excluding the impact of the exchange rate and hyperinflation in Turkey, as well as mergers and acquisitions, Vodafone’s revenue increased by 2.7%.

Vodafone’s service revenues totaled 9,520 million euros in the third fiscal quarter of the British telephone operator, a drop of 1.3% compared to the same period of the previous year, although in organic terms they increased by 1.8% .

Between October and December, Vodafone’s service revenues in Germany decreased by 1.8%, to 2,882 million, while in the United Kingdom they rose 2.7%, to 1,327 million. In the case of Italy, the operator’s revenues fell by 3.3%, to 1,071 million, and in Spain service billing fell by 8.7%, to 858 million.

“While we continue to target our financial guidance for the year, the recent decline in revenue in Europe shows we can do better,” Vodafone CEO Margherita Della Valle said.

In this sense, the executive recalled that the company has already adopted measures, including the simplification of its structure to give local markets full autonomy and responsibility to make business decisions, as well as the implementation of initiatives to generate around half of the cost savings target of 1,000 million euros.