By Adria Calatayud 
 

Vodafone Group PLC said Wednesday that it returned to organic service revenue growth in the third quarter of fiscal 2021, after two quarters in decline, and reiterated its guidance for the full year.

The U.K. telecommunications group said service revenue--a closely-watched metric which tracks sales of telecom services--was up 0.4% for the quarter ended Dec. 31 on an organic basis, with a 1.1% decline in Europe offset by other markets. Organic service revenue in Germany, Vodafone's largest market, rose 1.0% for the quarter, the company said.

Total revenue for the quarter was 11.20 billion euros ($13.49 billion), down 4.7% on year.

Vodafone said it continues to expect adjusted earnings before interest, taxes, depreciation and amortization for the year ending March 31 to be between EUR14.4 billion and EUR14.6 billion, and free cash flow to be at least EUR5 billion before spectrum and restructuring costs.

The company said an initial public offering of its European telecom tower company, Vantage Towers, is firmly on track for early 2021.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

February 03, 2021 02:31 ET (07:31 GMT)

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