Vodafone FY EBITDA falls 5.4%

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Vodafone's (VOD) FY EBITDA dropped 5.4% to £12.8B as revenue slipped 1.9% to £43.6B, hurt by the carrier's exposure to sluggish European markets.

Net profit attributable to shareholders soared to £59.25B from £413M a year earlier, boosted by the sale of Vodafone's 45% stake in Verizon Wireless for $130B, for which the British carrier received a one-off contribution of £48.2B.

Adjusted operating profit dropped 37% to £7.67B, mainly due to a much lower contribution from Verizon Wireless before it was sold.

In Q4, organic service revenue declined 3.8%, although that was slightly less than consensus of -3.9%.

Expects FY 2015 EBITDA to drop to £11.4-11.9B.

"Our operational performance has been mixed," says CEO Vittorio Colao. While Vodafone's "emerging markets businesses have performed strongly," in Europe, the company continues "to face competitive, regulatory and macroeconomic pressures."

Vodafone declared a final dividend of 7.47 pence a share, giving total dividends of 11 pence, up 8%. (PR)