Vodafone has seen its revenue increase by 1.6% in the first half of its 2025 financial year, reaching €18.3bn (£15.2bn).

This came as the telecommunications firm’s service revenue increased by 1.7% to €15.6bn (£12.95bn).

Despite growth in regions including Europe, Africa and Turkey, Vodafone’s service revenue fell in Germany by 6.2% in Q2, primarily due to the impact of the MDU TV law change.

In line with its simplicity programme, the group said it is "progressing with the 3,100 role reductions” in Germany.

Vodafone’s operating profit increased by 28.3% year-on-year to €2.4bn (£1.99bn), while its adjusted EBITDAaL jumped by 3.8% to €5.4bn, supported by service revenue growth and lower energy costs in Europe.

It comes after Vodafone's merger with Three was given the go-ahead by the Competition and Markets Authority.

Group chief executive at Vodafone, Margherita Della Valle, said: "We continue to make good progress on our strategy to change Vodafone. The approval processes for our transactions in the UK and Italy are nearing conclusion. These will complete our programme to reshape the group for growth. We are also investing in Germany to strengthen our market position and taking steps to expand our B2B capabilities.

“As we move through this year of transition, our results in the first half have been consistent with our expectations and we are reiterating our full year guidance.

“I am confident that the actions we are taking will deliver growth for Vodafone this year and a further acceleration into FY26."

Looking ahead, Vodafone said that its second €500m tranche of its share buyback is “almost complete”, with 1.2 billion shares repurchased for €1bn on 11 November.

In its guidance for the full year, Vodafone said its adjusted EBITDAaL is expected to reach €11bn (£9.13bn), with an adjusted cash flow of €2.4bn (£1.99bn).

Investment director at AJ Bell, Russ Mould, added that although the firm may be writing off the current financial year as "one of transition", the message that shareholders have received in recent years could leave patience "wearing thin".

He concluded: "Della Valle’s turnaround plan is close to fruition with the sale of its Italian business expected to follow on from May’s divestment of its Spanish operations early next year and the merger with Three in the UK looking close to clearing regulatory hurdles.

"Once these elements of the turnaround are complete, the market is likely to be less forgiving of poor performance. This places a lot of emphasis on the company fixing its problems in Germany and achieving a level of wider consistency which has escaped the business for years. Dialling up growth won’t be easy for Vodafone but it is what’s required after years of the shares drifting lower. Less mature markets in Africa present an opportunity, with the company expanding at a decent clip."

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