Vodafone借VodafoneThree投资者日上调英国业务协同目标，盘前ADR不涨反跌

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6-K
1
a0757y.htm
VODAFONETHREE INVESTOR BRIEFING
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULES 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Dated
October 08, 2026
Commission
File Number: 001-10086
VODAFONE GROUP
PUBLIC LIMITED COMPANY
(Translation
of registrant’s name into English)
VODAFONE
HOUSE, THE CONNECTION, NEWBURY, BERKSHIRE, RG14 2FN,
ENGLAND
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F
✓
Form 40-F _
This
Report on Form 6-K contains a Stock Exchange Announcement dated 08
October 2026 entitled ‘VodafoneThree Investor
Briefing’.
Vodafone Group Plc
VodafoneThree Investor Briefing
8 October 2026
VodafoneThree
⫶
A key driver of growth and value
creation
“Today we are setting out in detail our strategy and growth
ambitions for the UK. We are issuing new bolder financial targets
and we are outlining the execution plan we have in place to deliver
these.
We created VodafoneThree because we saw the opportunity to
transform the UK market. To create the scale to invest. To deliver
a step change in network quality and customer experience across
every region of the UK. And to build a stronger business, creating
sustainable long-term value.
After a strong start, we now have even greater confidence in the
opportunity ahead. That’s why we are upgrading our cost
target to £1 billion, with VodafoneThree set to become an
increasingly important contributor to Vodafone’s growth
ambitions.”
Margherita Della Valle
Group Chief Executive
●
Cost
target upgraded to £1 billion per annum by FY32 (previously
£0.7 billion by FY30)
●
New
targets:
−
​
Mid-to-high
single digit Adjusted EBITDAaL growth (FY25-32 CAGR),
and
−
Operating
free cash flow to more than triple by FY32 (versus
FY25)
●
A
clear path to value creation and a key driver of Vodafone
Group’s medium-term cash flow growth ambition
Vodafone Group Plc is hosting an investor briefing later today,
focused on VodafoneThree’s strategy, growth ambitions, and
the significant value creation it expects to deliver over the
coming years, as we build the UK’s best network.
Key highlights from the event, which will be hosted by the CEO of
our European Markets, Ahmed Essam, VodafoneThree’s CEO, Max
Taylor, and other members of the UK’s senior leadership team
are:
1.
A new era of
connectivity
⫶
We will connect every community in
every corner of the UK. We have strong foundations. We have the
UK’s largest mobile customer base, we are #1 for customer
experience, and we have the scale to invest in building the
UK’s best network. In our first year we have already made
significant progress. Our focus is now on delivering the
significant opportunities ahead of us.
2.
Building the UK’s best
mobile network
⫶
We
have more assets than any other UK operator and an ambitious
network rollout plan. We have moved at pace, bringing immediate
benefits to customers from day one. The next stage in our journey
is to build a next-generation 5G standalone, AI-ready network.
Across the country, our 10-year £11 billion investment plan
will enable us to build the UK’s best network, delivering an
unparalleled experience for our
customers.
3.
Accelerating our leadership in
Consumer
⫶
We
are #1 in mobile and the leading challenger in fixed. We have
maintained our good commercial momentum post-merger with record low
customer churn across all of our brands and growing
ARPU
1
.
We have a clear multi-brand strategy that effectively targets
different segments of the market. As we build The Nation’s
Network, this will provide us with greater opportunities to
differentiate and monetise our best-in-class mobile network
position. We have recently launched new, market-leading
propositions such as SuperMobile and Vodafone TV. We also have
significant opportunities for growth in broadband, fixed wireless
access and convergence. VodafoneThree is the UK’s fastest
growing broadband provider and has the largest fibre footprint of
any operator.
4.
Connecting businesses to their
potential
⫶
Vodafone
Business is a scaled operator with strong foundations and exciting
growth opportunities. We support businesses of every size across
the UK, from SME to public sector, with our broad range of products
and services. We are creating a simpler, more efficient business
and further building on our market-leading customer experience. We
are differentiating by turning our network and customer scale into
a competitive advantage. And we are broadening our capabilities
beyond core connectivity into areas such as digital services,
sovereignty, security and AI, where we see attractive growth
opportunities.
5.
Delivering significant value
creation
⫶
We have made strong progress against
our cost targets. Our confidence in our clear and detailed
execution plan means we are upgrading our target to £1 billion
of annual savings by FY32 (previously £0.7 billion per annum
by FY30). This is driven by further savings as our network build
completes and we benefit further from network rationalisation as
well as the benefits of full Group ownership, which enable us to
move at an even faster pace. In addition, we see significant
potential to drive additional revenue synergies from the
merger.
In summary, we have a clear path to delivering significant and
sustainable long-term value creation, and VodafoneThree will be a
key driver of Vodafone Group’s mid-term ambition for
double-digit organic growth in Adjusted Free Cash
Flow.
New UK financial targets:
Annual cost saving target
£1 billion per annum by FY32
(£0.8 billion p.a. by
FY30)
Adjusted EBITDAaL growth
Mid-to-high single digit CAGR
(FY25-32)
Operating free cash flow
2
growth
Over 3x
(versus
FY25)
Return on capital employed
3
Exceeding cost of capital by FY32, materially above by
FY34
Footnotes
1.
ARPU
– Average revenue per user
2.
Operating
free cash flow defined as Adjusted EBITDAaL less capital
additions
3.
Pre-tax
Return on Capital Employed (including goodwill)
Note to editors
A live webcast will be held at 13:00 BST on 8 October 2026
(available at
vodafone.com/vodafonethreeinvestorbriefing2026
).
Presentation
materials will be made available on our website from 12:00
BST.
For more information, please contact:
Investor Relations:
vodafone.com/investors
ir@vodafone.co.uk
Media Relations:
vodafone.com/news/media-contacts
GroupMedia@vodafone.com
Registered Office: Vodafone House, The Connection, Newbury,
Berkshire RG14 2FN, England. Registered in England No.
1833679
A live webcast will be held at 13:00 BST on 8 October 2026. The
webcast and supporting information can be accessed at
vodafone.com/investors
Forward-looking statements and other matters
This announcement contains “forward-looking statements”
within the meaning of the US Private Securities Litigation Reform
Act of 1995 with respect to the Vodafone Group’s financial
condition, results of operations and businesses, including, but not
limited to, the Vodafone Group’s plans and objectives,
including the Vodafone Group’s strategy and outlook for
VodafoneThree, including its network investment plans, cost and
capital expenditure synergy targets and expected returns, and the
development and commercialisation of new technology offerings,
including artificial intelligence (AI), which are subject to risks
and uncertainties because they relate to future events. All
statements other than statements of historical fact are, or may be
deemed to be, forward-looking statements. No statement in this
presentation is intended as a profit forecast or estimate for any
period; the new financial targets set out herein are targets only,
reflecting the Vodafone Group’s current expectations and
ambitions for VodafoneThree over the medium to long term.
Statements of potential cost savings and synergies relate to future
actions and circumstances which, by their nature, involve risks,
uncertainties and contingencies. As a result, any cost savings and
synergies referred to may not be achieved, may be achieved later or
sooner than estimated, or those achieved could be materially
different from those estimated. By their nature, forward-looking
statements and targets are inherently predictive, speculative and
involve risk and uncertainty because they relate to events and
depend on circumstances that may or may not occur in the future.
There are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied
by these forward-looking statements and targets. A review of the
reasons why actual results and developments may differ materially
from the expectations disclosed or implied within forward-looking
statements can be found under “Forward-looking
statements” and “Principal Risks and
Uncertainties” in the Vodafone Group Plc Annual Report for
the year ended 31 March 2026 and under “Forward-looking
statements and other matters” in the Vodafone Group Plc Q1
results for the three months ended 30 June 2026. These reports can
be found at investors.vodafone.com. Except as otherwise stated and
as may be required to comply with applicable law and regulations,
Vodafone does not intend to update these forward-looking statements
and targets and does not undertake any obligation to do
so.
This announcement also contains non-GAAP financial information,
including Adjusted EBITDAaL, Adjusted EBITDAaL growth, operating
free cash flow and return on capital employed, which the Vodafone
Group’s management believes is valuable in understanding the
performance of the Vodafone Group. However, non-GAAP financial
information is not uniformly defined by all companies and therefore
it may not be comparable with similarly titled measures disclosed
by other companies, including those in the Vodafone Group’s
industry. Although these measures are important in the assessment
and management of the Vodafone Group’s business, they should
not be viewed in isolation or as replacements for, but rather as
complementary to, the comparable GAAP measures.
About Vodafone Group
everyone.connected
Vodafone is a leading European and African telecoms
company.
We serve around 370 million mobile and broadband customers,
operating networks in 17 countries with investments in a further
three and partners in over 40 more. We have capacity on more than
70 subsea cable systems – the backbone of the internet
– and we are developing a new direct-to-mobile satellite
communications service to connect areas without coverage. Vodafone
runs one of the world’s largest IoT platforms, with over 240
million IoT connections globally, and we provide financial services
to around 103 million customers across eight African countries
– managing more transactions than any other
provider.
From the seabed to the stars, Vodafone’s mission is to
connect everyone.
For more information, please visit
www.vodafone.com
follow us on X at
@VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone.
About VodafoneThree
VodafoneThree is the UK's largest mobile network operator serving
the fixed and mobile market, formed following the merger of
Vodafone UK and Three UK in June 2025.
Through an unprecedented £11 billion investment, VodafoneThree
will build the UK's best network. The network will deliver
reliable, quality connectivity to all nations and regions, creating
as many as 13,000 jobs and laying a digital foundation for the
country's growth ambitions.
VodafoneThree is the only mobile network operator with a fully
funded, regulated and guaranteed network build plan, reaching 99%
5G Standalone population coverage by 2030 and 99.96% by 2034. From
big cities to small towns, and everywhere in between, the company's
mission is to build the UK's best network.
VodafoneThree encompasses all businesses and assets, including
Vodafone UK, Three UK, VOXI Mobile, SMARTY and
Talkmobile.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
VODAFONE
GROUP
PUBLIC
LIMITED COMPANY
(Registrant)
Date:
October 08, 2026
By: /s/ M D B
Name: Maaike de Bie
Title: Group General Counsel and Company Secretary