Vodacom ups medium-term EBITDA target despite marginal revenue decline

Vodacom Group has released its reviewed annual results for the year ended March 31, 2025, upgrading its medium-term EBITDA growth target to double digits. Group revenue grew by 1.1% to R152.2 billion, with service revenue slightly down at 0.1%, although up 11.2% on a normalised basis. Financial services revenue saw a boost of 7.6% to R14.0 billion. Despite a 1.1% drop in EBITDA to R55.5 billion, normalised EBITDA increased by 7.8%. Headline earnings per share (HEPS) reached 857cps, and a final dividend of 620cps was declared, up 5.1%. The company will pay a gross final dividend number 32 of 335 cents per ordinary share, payable on Monday, 23 June 2025. Vodacom continues to expand across Africa, focusing on connectivity and digital services, and expects capital expenditure of over R20.0 billion in the new financial year.