Vodafone Group Public Limited Company (VOD): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de las telecomunicaciones con el dinámico modelo de negocio de Vodafone Group, un plan estratégico que revela cómo este gigante global de telecomunicaciones transforma la infraestructura tecnológica compleja en soluciones de comunicación innovadores. Desde asociaciones de red de vanguardia hasta diversos flujos de ingresos, el modelo de Vodafone demuestra un enfoque sofisticado para conectar a millones de clientes en los mercados internacionales, combinando capacidades digitales avanzadas con excelencia operativa estratégica que establece el estándar en el paisaje de telecomunicaciones en rápida evolución.

Vodafone Group Public Limited Company (VOD) - Modelo de negocios: asociaciones clave

Proveedores de infraestructura de red

Vodafone colabora con proveedores de infraestructura de red clave para mejorar las capacidades tecnológicas:

Pareja	Valor de contrato	Duración
Nokia	1.700 millones de euros	2022-2026
Ericsson	2,300 millones de euros	2023-2027

Fabricantes de dispositivos

Asociaciones estratégicas con fabricantes de dispositivos globales:

Fabricante	Venta anual de dispositivos	Enfoque de colaboración
Manzana	1,2 millones de unidades	Integración de iPhone 5G
Samsung	2.5 millones de unidades	Ecosistema de teléfonos inteligentes de Galaxy

Socios de servicio en la nube

• Microsoft Azure: Acuerdo de infraestructura en la nube de 450 millones de euros
• Servicios web de Amazon: contrato de varios años de € 320 millones
• Plataforma en la nube de Google: € 280 millones de asociación estratégica

Reguladores de telecomunicaciones

Asociaciones regulatorias en múltiples jurisdicciones:

País	Cuerpo regulador	Inversión de cumplimiento
Reino Unido	De la OFCOM	75 millones de euros
Alemania	Bnetza	62 millones de euros
Italia	Agcom	48 millones de euros

Operadores móviles locales

Asociaciones de expansión internacional:

• Idea Cellular (India): empresa conjunta de 2.400 millones de euros
• Safaricom (Kenia): € 1.1 mil millones de alianza estratégica
• Vodacom (África): cooperación de red integrada de 3.600 millones de euros

Vodafone Group Public Limited Company (VOD) - Modelo de negocio: actividades clave

Servicios de telecomunicaciones móviles y de línea fija

Vodafone opera en 21 países y tiene redes de socios en 47 países a partir de 2023. Total de clientes móviles: 300 millones. Clientes de banda ancha de línea fija: 28.5 millones.

Categoría de servicio	Total de clientes	Ingresos anuales
Servicios móviles	300 millones	35,2 mil millones de euros
Servicios de línea fija	28.5 millones	7.8 mil millones de euros

Transformación digital e innovación tecnológica

Inversión en innovación tecnológica: € 4.2 mil millones en 2023. Cobertura de red 5G en 10 países.

• Implementación de red 5G en múltiples mercados
• IoT y soluciones de conectividad inteligente
• Optimización de red impulsada por IA

Desarrollo y mantenimiento de la infraestructura de red

Inversión total de infraestructura de red: € 6.5 mil millones en 2023. Cobertura de red en 21 países.

Componente de infraestructura	Inversión	Cobertura
Red móvil	4.300 millones de euros	99.7% de cobertura de población
Infraestructura de fibra óptica	1.900 millones de euros	22 millones de locales

Ciberseguridad y protección de datos

Inversión anual de ciberseguridad: 350 millones de euros. Equipo de ciberseguridad dedicado de 450 profesionales.

• Sistemas avanzados de detección de amenazas
• Actualizaciones de infraestructura de seguridad continua
• Cumplimiento de las regulaciones de GDPR

Servicio al cliente y gestión de soporte

Representantes de atención al cliente total: 12,500. Inversión anual de servicio al cliente: € 780 millones.

Canal de soporte	Interacciones anuales	Tiempo de resolución promedio
Soporte digital	45 millones	2.3 horas
Soporte telefónico	38 millones	18 minutos

Vodafone Group Public Limited Company (VOD) - Modelo de negocio: recursos clave

Infraestructura de la red global de telecomunicaciones global

Vodafone opera una infraestructura de red que abarca 21 países con redes asociadas en 43 países adicionales. La cobertura de red total incluye:

Métrico de red	Datos cuantitativos
Sitios de red totales	91,500 sitios móviles
Cobertura de red 5G	246 millones de población cubierta
Longitud de la red de fibra	68,000 kilómetros

Capacidades avanzadas de 5G y tecnología digital

Los recursos tecnológicos de Vodafone incluyen:

• 7.700 millones de euros invertidos en transformación digital
• Más de 1.200 patentes de tecnología activa
• Integración de IA y aprendizaje automático en las operaciones de red

Gran base de clientes

Segmento de clientes	Usuarios totales
Clientes móviles	300 millones
Clientes fijos de banda ancha	28.5 millones
Clientes empresariales empresariales	1,5 millones de clientes corporativos

Fuerza laboral tecnológica y de gestión calificada

Composición de la fuerza laboral:

• Total de empleados: 105,900
• Personal de I + D: 4.200 profesionales de tecnología especializada
• Promedio de la tenencia del empleado: 8.3 años

Capital financiero y reservas de inversión significativas

Métrica financiera	Cantidad
Activos totales	122.4 mil millones de euros
Gastos de capital anuales	7.2 mil millones de euros
Equivalentes de efectivo y efectivo	4.600 millones de euros

Vodafone Group Public Limited Company (VOD) - Modelo de negocio: propuestas de valor

Conectividad móvil y de banda ancha de alta calidad

A partir de 2024, Vodafone opera redes móviles en 21 países y tiene redes asociadas en 47 países adicionales. La compañía ofrece cobertura móvil a aproximadamente 625 millones de clientes a nivel mundial.

Métrico de red	Valor
Cobertura 4G	Cobertura de población del 96% en los mercados primarios
Implementación de 5G	15 países con redes 5G activas
Velocidad de banda ancha	Velocidad de descarga promedio de 150 Mbps

Soluciones integrales de comunicación digital

Vodafone ofrece servicios digitales integrados en múltiples plataformas.

• Conexiones de IoT: 159 millones de dispositivos IoT administrados
• Servicios de comunicación en la nube: ingresos anuales de € 1.2 mil millones
• Enterprise Digital Solutions: admitiendo 1,5 millones de clientes comerciales

Paquetes de telecomunicaciones asequibles y flexibles

Vodafone proporciona diversas estrategias de precios en diferentes mercados.

Tipo de paquete	Costo mensual promedio
Plan móvil básico	€15.99
Paquete familiar	€29.99
Plan de negocios ilimitado	€49.99

Servicios e innovaciones tecnológicas avanzadas

Vodafone invierte significativamente en el avance tecnológico.

• Inversión anual de I + D: 1.400 millones de euros
• AI y proyectos de aprendizaje automático: 37 iniciativas activas
• Soluciones de ciberseguridad: proteger a más de 500,000 clientes empresariales

Fuertes capacidades internacionales de roaming

Vodafone ofrece extensos servicios internacionales de roaming.

Métrico roaming	Valor
Países itinerantes	210 países y territorios
Asociaciones de roaming	536 operadores móviles en todo el mundo
Ingresos de roaming	782 millones de euros en 2023

Vodafone Group Public Limited Company (VOD) - Modelo de negocios: relaciones con los clientes

Plataformas de autoservicio digital

Vodafone opera la plataforma digital MyVodafone con 45.7 millones de usuarios digitales activos a partir de 2023. La plataforma permite al 82% de las interacciones de servicio al cliente a través de canales digitales.

Métricas de plataforma digital	Valor
Usuarios digitales activos	45.7 millones
Interacciones de servicio digital	82%
Descargas de aplicaciones móviles	26.3 millones

Canales de atención al cliente 24/7

Vodafone mantiene múltiples canales de atención al cliente con:

• Soporte de chat en vivo disponible 24/7
• Soporte telefónico en 22 países
• Tiempo de respuesta de soporte por correo electrónico menos de 24 horas
• Canales de servicio al cliente de las redes sociales

Ofertas de comunicación y servicio personalizadas

Métrico de personalización	Actuación
Campañas de marketing personalizadas	67% de tasa de participación del cliente
Recomendaciones de servicio específicas	Tasa de conversión del 53%

Programas de fidelización y estrategias de retención de clientes

El programa de lealtad de Vodafone Red incluye:

• Tasa de retención de clientes del 74.6%
• Valor promedio de por vida del cliente: € 1,200
• Membresía del programa de lealtad: 38.5 millones de suscriptores

Participación regular a través de aplicaciones móviles

Métricas de compromiso de aplicaciones móviles	Estadística
Usuarios mensuales de aplicaciones activas	26.3 millones
Duración promedio de la sesión de la aplicación	12.4 minutos
Transacciones de autoservicio a través de la aplicación	62% de las interacciones totales del cliente

Vodafone Group Public Limited Company (VOD) - Modelo de negocios: canales

Sitio web en línea y aplicaciones móviles

Vodafone opera plataformas digitales que atienden a 300 millones de clientes a nivel mundial a partir de 2023. Las descargas de aplicaciones móviles alcanzaron 45.2 millones en el último año fiscal.

Plataforma digital	Métricas de usuario
Descargas de aplicaciones móviles	45.2 millones
Usuarios de la plataforma web	300 millones
Calificación de aplicaciones móviles	4.3/5

Tiendas minoristas físicas

Vodafone mantiene 1.872 tiendas minoristas propiedad de la compañía en 21 países en 2024.

Categoría de almacenamiento	Número
Tiendas propiedad de la compañía	1,872
Países con presencia física	21

Minoristas de telecomunicaciones de terceros autorizados

Vodafone se asocia con 12,500 minoristas autorizados de terceros en todo el mundo.

• Total de minoristas de terceros: 12,500
• Tasa de comisión promedio: 8.5%
• Cobertura de la red de minoristas: 95% de los mercados operativos

Equipos de ventas directos

Vodafone emplea a 3.600 representantes de ventas directas en los mercados globales.

Métrica del equipo de ventas	Valor
Representantes de ventas directas totales	3,600
Ventas promedio por representante	£ 487,000 anualmente

Plataformas de marketing digital

El gasto de marketing digital alcanzó £ 214 millones en 2023.

• Presupuesto total de marketing digital: £ 214 millones
• Seguidores de redes sociales: 5.7 millones
• Tasa de conversión de anuncios digitales: 3.2%

Vodafone Group Public Limited Company (VOD) - Modelo de negocios: segmentos de clientes

Usuarios móviles de consumo

A partir del tercer trimestre de 2023, Vodafone Group atendió a 300 millones de clientes móviles a nivel mundial. Los segmentos de usuarios móviles de consumo incluyen:

Segmento	Porcentaje	Características típicas
Adultos jóvenes (18-35)	42%	Alto consumo de datos, usuarios de teléfonos inteligentes
Adultos de mediana edad (36-55)	35%	Comunicación empresarial y familiar
Seniors (más de 55)	23%	Servicios móviles básicos, bajo uso de datos

Clientes empresariales y empresariales

La base de clientes empresariales de Vodafone incluye:

• Grandes clientes corporativos: 35,000 clientes empresariales
• Ingresos empresariales anuales: € 7.4 mil millones en 2023
• VERTICALES DE LA INDUSTRIA CLAVE:
  • Servicios financieros
  • Fabricación
  • Cuidado de la salud
  • Minorista

Empresas pequeñas y medianas

Detalles del segmento de PYME:

Región	Número de clientes de PYME	Ingresos mensuales promedio por cliente
Europa	127,000	€320
África	85,000	€180
Oriente Medio	45,000	€250

Organizaciones gubernamentales y del sector público

Métricas del segmento de clientes del gobierno:

• Total de clientes gubernamentales: 2.500 en 25 países
• Valor del contrato del sector público: € 1.2 mil millones en 2023
• Áreas de servicio primarias:
  • Infraestructura de comunicación
  • Soluciones de red seguras
  • Servicios de transformación digital

Clientes internacionales de roaming

Estadísticas del segmento internacional de roaming:

Métrico	Valor
Clientes de roaming total	58 millones
Ingresos de roaming	1.600 millones de euros en 2023
Uso promedio de datos de roaming por cliente	2.3 GB por mes

Vodafone Group Public Limited Company (VOD) - Modelo de negocio: Estructura de costos

Mantenimiento y actualizaciones de la infraestructura de red

Costos de infraestructura de red de Vodafone para el año fiscal 2023/2024:

Categoría de costos	Cantidad (€ millones)
Gasto de capital de infraestructura de red	5,824
Mantenimiento de equipos de red	2,136
Implementación de red 5G	1,456

Inversiones de investigación y desarrollo

Desglose de gastos de I + D:

• Inversión total de I + D: 1.200 millones de euros
• Investigación de tecnología digital
• Innovación de telecomunicaciones
• Desarrollo de ciberseguridad

Salarios de empleados y gastos operativos

Categoría de gastos	Cantidad (€ millones)
Compensación total de empleados	4,672
Sobrecarga operativa	2,345
Beneficios para empleados	876

Costos de marketing y adquisición de clientes

Detalles del gasto de marketing:

• Presupuesto total de marketing: € 782 millones
• Gasto de marketing digital: 342 millones de euros
• Costo de adquisición de clientes por usuario: € 45

Cumplimiento regulatorio y tarifas de licencia

Categoría de cumplimiento	Cantidad (€ millones)
Tarifas de licencia de espectro	1,234
Costos de cumplimiento regulatorio	456
Gastos legales y regulatorios	223

Vodafone Group Public Limited Company (VOD) - Modelo de negocios: flujos de ingresos

Servicios de voz y datos móviles

Para el año fiscal 2023, Vodafone Group informó ingresos por servicios móviles de € 25.3 mil millones. Los ingresos por datos móviles representaron € 15.7 mil millones, lo que representa el 62% de los ingresos por servicios móviles.

Categoría de servicio	Ingresos (mil millones)	Porcentaje
Servicios de voz móvil	9.6	38%
Servicios de datos móviles	15.7	62%
Ingresos totales de servicio móvil	25.3	100%

Telecomunicaciones de línea fija

Las telecomunicaciones de línea fija generaron € 7.2 mil millones en ingresos para Vodafone Group en 2023, con el siguiente desglose:

• Servicios de banda ancha fija: € 4.1 mil millones
• Servicios de voz fijos: € 2.3 mil millones
• Conectividad empresarial de línea fija: € 0.8 mil millones

Soluciones empresariales y comerciales

Los ingresos del segmento empresarial totalizaron € 8.5 mil millones en 2023, con fuentes clave de ingresos que incluyen:

Categoría de servicio empresarial	Ingresos (mil millones)
Servicios en la nube y de red	3.6
IoT y soluciones de transformación digital	2.1
Servicios de ciberseguridad	1.5
Servicios de TI administrados	1.3

Venta de dispositivos y ingresos por equipos

Las ventas de dispositivos y equipos generaron 3,8 mil millones de euros en 2023, con la siguiente distribución:

• Venta de teléfonos inteligentes: € 2.6 mil millones
• Accesorios y portátiles: € 0.7 mil millones
• Ventas de equipos de red: € 0.5 mil millones

Ofertas de servicios digitales y plataformas de contenido

Los ingresos por servicios digitales alcanzaron € 2,1 mil millones en 2023, que comprenden:

Categoría de servicio digital	Ingresos (millones de euros)
Servicios de transmisión de video	650
Servicios financieros móviles	580
Plataformas de entretenimiento digital	470
Almacenamiento en la nube y seguridad digital	400

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Vodafone Group Public Limited Company (VOD) is delivering to its customers as of late 2025. These value propositions center on bundling services, pushing digital transformation for businesses, ensuring network quality, and driving financial access in key regions.

The foundation of the consumer and business offering is converged connectivity, blending mobile, fixed broadband, and TV services. For fiscal year 2025 (FY25), Vodafone reported total revenue of €37.4 billion, with service revenue reaching €30.8 billion, reflecting a reported growth of 2.8% or an organic increase of 5.1%. This scale supports a massive customer base, serving approximately 536 million mobile customers and 20 million fixed broadband customers globally.

For the business segment, the value proposition leans heavily into B2B digital services, which now account for approximately 10% of the Group's total service revenue. This area is seeing strong internal growth; B2B digital services revenue grew by 26.1% over the last two years. Specifically, Cloud services within this segment saw robust demand, growing by 15.1% in FY25. Vodafone Business organic service revenue growth was 4.0% for FY25.

Network quality is a key differentiator, focusing on reliable 5G and gigabit-capable fixed network performance. For instance, in Ireland, Vodafone's 5G network achieved 78% population coverage, and the company was recognized for best Mobile Internet and 5G Provider in 2024. In Germany, the company emphasizes offering the largest gigabit footprint in the country. Looking at specific performance metrics from late 2024 in Spain, Vodafone was the outright winner for the 5G Voice App Experience with a score of 82.1 points and for Reliability Experience with a score of 906 points on a 1000-point scale.

A significant social and market-specific value proposition is financial inclusion and mobile money services in African markets, primarily through its associate, Vodacom. Mobile money is a critical entry point to the formal financial system in Sub-Saharan Africa, where 40% of adults had a mobile money account in 2024. Vodacom's M-Pesa platform, for example, serves over 62 million customers, encompassing both consumer and enterprise users.

Finally, Vodafone is actively improving the customer experience, which is tracked via Net Promoter Score (NPS). The company reports having leading or co-leading Consumer NPS in 9 out of 15 controlled markets. The UK market, in particular, showed strong results, achieving its best-ever performance and leading in the market, alongside a 30% drop in Ofcom mobile complaints.

Here's a quick look at some of the key numbers underpinning these value propositions:

Value Proposition Metric	Financial/Statistical Figure	Context/Period
Group Service Revenue	€30.8 billion	FY25 Reported Value
Organic Service Revenue Growth	5.1%	FY25
Digital Services Contribution to Service Revenue	c. 10%	FY25
B2B Digital Services Growth (2-Year)	26.1%	Over last two years
Cloud Services Revenue Growth	15.1%	FY25
Total Mobile Customers	Approx. 536 million	As of late 2025
Total Fixed Broadband Customers	Approx. 20 million	As of late 2025
Markets with Leading/Co-leading Consumer NPS	9 of 15	As of late 2025
UK Mobile Complaints Reduction (Ofcom)	30% drop	FY25
African Mobile Money Account Ownership (Adults)	40%	Sub-Saharan Africa, 2024
M-Pesa Customers (Consumer & Enterprise)	Over 62 million	As of late 2025

The focus on converged offerings means you get the full suite, from high-speed data to home internet. For businesses, the growth in digital services like Cloud is a clear indicator of where Vodafone sees its future revenue lift. Still, network quality remains a local battle, with specific awards like the 5G Voice App Experience in Spain showing where they are winning on performance metrics.

You'll want to track the continued expansion of the mobile money ecosystem, as that represents a unique, high-growth, high-impact value stream outside of the core European telco markets. Finance: draft 13-week cash view by Friday.

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Customer Relationships

You're looking at how Vodafone Group Public Limited Company (VOD) manages its relationships with hundreds of millions of customers, spanning from individual consumers to large multinationals across its footprint. The focus is clearly shifting toward digital efficiency and demonstrable customer satisfaction improvements.

Digital self-service and AI-powered customer support

Vodafone Group Public Limited Company (VOD) is embedding generative Artificial Intelligence (Gen AI) to make digital self-service interactions more personalized and comprehensive. This technology is also used to enhance frontline digital experiences. For instance, in Italy, Gen AI chatbots are available to support over ten million customers with queries covering roaming and billing. The focus for these chatbots is evolving; key metrics now measure the satisfaction of customers with the interaction itself, moving beyond just the number of contacts handled. Furthermore, the internal use of AI shows tangible results, with developer teams accepting 30% of code suggestions from solutions like GitHub Copilot. This digital push is underpinned by a strategic decision to process customer insights using real-time AI models, which feed into weekly action plans across all markets, a process that began with investment in FY24.

Dedicated account management for large Vodafone Business enterprise clients

For your largest Vodafone Business enterprise clients, the relationship model involves dedicated, high-touch support. This includes deploying account managers, solution specialists, and, for the biggest accounts, executive-level engagement. Vodafone Business saw its organic service revenue grow by 4.0% in the Fiscal Year 2025 (FY25). This growth was supported by strong demand for digital offerings. Over the last two years leading up to FY25, the segment's digital services, which include IoT, Cloud & Security, grew by 26.1%. These digital services now represent approximately 10% of Group service revenue. In specific markets like the US, Vodafone exclusively serves global enterprises with international footprints, leveraging its compliance expertise for local contracting needs.

Here's a snapshot of the scale and focus areas for Vodafone Business:

Metric	Value/Context	Reporting Period
Vodafone Business Organic Service Revenue Growth	4.0%	FY25
B2B Digital Services Growth (Cumulative)	26.1% increase	Last 2 years (to FY25)
Digital Services Share of Group Service Revenue	Circa 10%	FY25
Global Customer Base (Total)	Hundreds of millions	FY25
Enterprise Client Engagement Level	Account Managers, Solution Specialists, Executive Level	Ongoing

Customer Experience (CX) transformation to reduce detractors

Customer Experience (CX) transformation has been held as the top priority. The rollout of the 'Ask Once' program aims to deliver a seamless service guarantee and easier access to help for customers. To drive this, CX boards were established to review customer pain points regularly and implement action plans supported by dedicated investment and senior management oversight. The results of this focus in FY25 were significant: Vodafone Group Public Limited Company (VOD) achieved a market-leading Net Promoter Score (NPS) position and its lowest ever share of detractors across its base. This improvement is reflected in regulatory data, where Ofcom mobile complaints were down by 30% year-on-year in FY25. In the UK specifically, CX improvements supported an increase in the mobile Consumer contract customer base of 117,000 in FY25. The investment supporting this transformation included a reallocated €140 million in FY24.

Retention focus through converged product bundles and loyalty programs

Retention efforts are directly tied to loyalty programs and the appeal of converged offerings. The record-level customer loyalty achieved in FY25 helped drive the 117,000 increase in the mobile Consumer contract customer base. For fixed services in the UK, the customer base grew by 227,000 during FY25, a result supported by the launch of the new 'One Touch Switching' service in September 2024, which simplifies the process of joining Vodafone. While Vodafone's specific retention rate isn't provided, industry context suggests the focus is critical: a 5% increase in retention can boost profits by 25% to 95%, and retaining customers is generally five times less expensive than acquiring new ones. The strategy involves bundling core connectivity with growth areas like digital services to enhance customer stickiness.

Key customer retention and loyalty indicators from FY25 include:

• Mobile Consumer Contract Customer Base Increase: 117,000 customers.
• UK Broadband Customer Base Increase: 227,000 customers.
• Ofcom Mobile Complaints Reduction: 30% year-on-year.
• CX Investment (FY24): €140 million reallocated.

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Channels

You're looking at how Vodafone Group Public Limited Company (VOD) gets its products and services into the hands of customers as of late 2025. The channel strategy is clearly multi-faceted, balancing physical presence with digital reach, especially as the company continues its portfolio reshaping.

Vodafone-branded retail stores and physical distribution points

The physical footprint remains a core part of the customer interaction strategy, though there's a clear move toward partner-led growth in some areas. Vodafone operates as an owner in 27 countries and maintains partner networks in roughly 60 more countries globally. In the UK, the franchise model shows continued investment, with the launch of the 200th UK franchise partnered store noted as a milestone reflecting investment in in-person support blended with digital services. This physical presence is essential for consumer segments, even as digital adoption rises.

Online sales channels and e-commerce platforms

The shift to digital channels is evident in the performance of digital services, which now account for approximately 10% of Group service revenue. Within Vodafone Business, digital services revenue growth has been a bright spot, with Cloud services specifically growing by 15.1% in FY25. This segment has seen B2B digital services increase by 26.1% over the last two years, showing where digital sales efforts are concentrated and succeeding.

Direct sales force for Vodafone Business enterprise contracts

The direct sales force targets the enterprise segment, which is a significant focus area for Vodafone Business. For the fiscal year ended March 31, 2025 (FY25), Vodafone Business service revenue saw a reported decline of 2.3%, impacted by price competition and lower roaming revenue. However, the organic service revenue growth for Vodafone Business was reported at 4.0% for FY25, indicating underlying operational strength despite headline pressures. The total contract customer base for this segment still managed to increase by 7,000 in FY25, showing customer acquisition efforts are still yielding results.

Third-party distributors and resellers

Third-party channels are crucial for global reach, particularly for the enterprise segment outside of Vodafone's core owned markets. Vodafone US, for instance, focuses exclusively on serving global multinational enterprises and has heavily invested in its channel ecosystem, signing agreements with the largest Technology Service Distributors (TSDs) and resellers in the region. This strategy allows Vodafone to leverage partner expertise to deliver solutions globally, especially for US-headquartered companies expanding internationally. The Partner Markets program also invites regional and rural service providers to collaborate on co-branded services and roaming agreements.

Here's a quick look at some key financial metrics from FY25 that underpin the channel performance:

Metric	Value (FY25)	Comparison/Context
Total Group Revenue	€37.4 billion	Up 2.0% from FY24 (€36.7 billion)
Group Organic Service Revenue Growth	5.1%	Reflects strong underlying demand across markets
Adjusted Free Cash Flow	€2.5 billion	Slightly down from FY24 (€2.6 billion)
Total Dividends Per Share	4.5 eurocents	Down from FY24 (9.0 eurocents)
Capital Returned to Shareholders	€3.7 billion	Includes share buybacks completion and new program launch
Digital Services as % of Group Service Revenue	c. 10%	Key growth area complementing core connectivity

The company's overall channel strategy involves a mix of direct control and partner leverage across its global footprint.

• Vodafone operates in 27 own-operator countries.
• Partner networks exist in roughly 60 more countries.
• UK franchise program reached 200 partnered stores.
• Vodafone US relies on TSDs and Resellers for enterprise reach.
• Cloud services revenue grew 15.1% in FY25.

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Customer Segments

You're looking at the core of Vodafone Group Public Limited Company's strategy, which is how they divide and serve their vast customer base across Europe and Africa as of late 2025. This segmentation drives everything from network investment to product development.

Mass-market Consumers (Mobile, Fixed, TV) in core European markets (e.g., Germany, UK)

The European Consumer segment remains the largest, though it's undergoing significant transformation, particularly in Germany following regulatory changes. In fiscal year 2025, Vodafone Group reported total mobile customers across its footprint at 256,642 thousand and fixed broadband customers at 18,251 thousand.

In Germany, the largest single market, service revenue declined by 5.0% in FY25, largely due to the change in multi-dwelling unit (MDU) TV law. Vodafone Germany retained 4.2 million households under new commercial terms following the MDU TV migration, which was about 50% of the original 8.5 million MDU TV households. Still, in Q2 FY25, Germany service revenue showed stabilization, growing by 0.5%.

The UK market showed positive momentum, with organic service revenue increasing by 1.9% in FY25. The mobile Consumer contract customer base saw an increase of 117,000 in FY25. However, the UK mobile base fell to 18.175 million by the end of Q4 FY25. Fixed broadband in the UK grew by 227,000 customers across the year, reaching 1.61 million by Q4 FY25.

Key metrics for the core European Consumer segment in FY25 include:

• Total Group Mobile Customers: 256.642 million
• UK Mobile Consumer Contract Additions (FY25): 117,000
• Germany MDU TV Households Retained: 4.2 million
• UK Fixed Broadband Customer Additions (FY25): 227,000

Vodafone Business (B2B) customers, from SMBs to large multinational corporations

Vodafone Business is positioned as a key growth engine, leveraging global scale in connectivity, IoT, cloud, and security. The addressable market for this segment is estimated at €140+ billion. For the full fiscal year 2025, the organic service revenue growth for Vodafone Business was 4.0%. This growth was supported by digital services, which grew 26.1% over the last two years.

The segment's performance showed sequential improvement, with Q2 FY25 organic service revenue growth accelerating to 4.0%. However, the reported service revenue growth for Vodafone Business in FY25 was 1.6%. The total contract customer base saw a net loss, partially due to large low-value contract disconnections, but the focus remains on high-value digital services.

African Consumers focused on mobile data and financial services (M-Pesa)

The Africa Consumer segment, primarily through Vodacom, delivered consistent organic growth, with a 9.7% increase in Q2 FY25. Across Vodacom's international markets, the mobile customer base reached 60.0 million after adding 5.9 million new customers in FY25.

M-Pesa is a critical component here. The M-Pesa customer base grew to 25.2 million active users in FY25. M-Pesa revenue grew by 10.0% to €427.9 million, making up 27.6% of Vodacom's service revenue. In Egypt specifically, Vodafone Cash reached 11.4 million active users.

Here is a snapshot of the African footprint growth in FY25:

Metric	Vodacom International Markets	Egypt Total Mobile Customers
New Mobile Customers Added (FY25)	5.9 million	3.156 million (656k contract + 2.5m prepaid)
Total Mobile Customers (End FY25)	60.0 million	51.5 million
M-Pesa/Vodafone Cash Active Users	25.2 million (M-Pesa)	11.4 million (Vodafone Cash)

Wholesale customers (e.g., national roaming partners like 1&1 in Germany)

Wholesale services contribute to Vodafone's European operations, notably through the fibre joint venture OXG Glasfaser and national roaming agreements. Vodafone Germany's wholesale revenue saw an acceleration, which helped stabilize service revenue in Q2 FY25.

The national roaming partnership with 1&1 in Germany is a key wholesale relationship, with the migration of 1&1's existing customers expected to be completed by autumn 2025. 1&1's total broadband user base, which includes those using the Vodafone network via roaming or OXG fibre, stood at 3.9 million at the end of June 2025. OXG Glasfaser, the fibre JV between Altice and Vodafone, is set to begin onboarding 1&1 services over its network starting in the first quarter of 2026.

The wholesale segment's importance is underscored by the scale of the infrastructure partnerships:

• 1&1 Broadband Base (June 2025): 3.9 million users
• OXG Fibre JV Investment: Set aside €7 billion with Altice
• Expected OXG Premises Covered by March 2026: Over 500,000

Finance: draft 13-week cash view by Friday.

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Cost Structure

The Cost Structure for Vodafone Group Public Limited Company is heavily weighted towards maintaining and upgrading its extensive network infrastructure, alongside significant costs associated with its ongoing simplification and restructuring programs across its portfolio markets.

Significant capital expenditure (Capex) on network upgrades remains a top cost driver. For the fiscal year ended March 31, 2025 (FY25), total Group capital additions reached approximately €6.9 billion, reflecting a return to investment growth after recent portfolio changes. This spend is directed to support 5G rollout, capacity expansion, and network quality improvements in key markets. The allocation across major segments for these capital additions was detailed as follows:

Segment	FY25 Capital Additions (€ million)	Proportion of Total Group Capex (%)
Germany	2,482	36.2
Africa	2,593	37.8
UK	897	13.1
Other Europe 2	856	12.5
Common Functions 3	45	0.7
Group Total (Excluding Eliminations)	6,873	100.3
Reported Group Total Capital Additions	6,862	N/A

Note that the sum of the segment capital additions in the table above is slightly different from the reported Group total due to rounding or specific treatment of Common Functions/Eliminations in the source data. The reported total Group Capital Additions for FY25 was €6,862 million.

Network operating costs, which comprise network and IT related expenditure, are substantial. While specific total network operating costs are not explicitly isolated, the Group has been focused on efficiency. Vodafone targeted Europe opex savings of €0.4 billion across the period FY23-FY25. However, operating expenditure at the Group level saw an increase in the first half of the subsequent fiscal year (H1 FY25-26), climbing more than 10% to €6.0 billion, driven by post-merger UK costs and other investments.

Personnel and restructuring costs are a direct result of the simplification program. Vodafone has completed or actioned 7,700 role efficiencies as part of its simplification efforts by the end of FY25. The reported restructuring expenses for the year were around €250 million.

Interconnect and roaming costs with other operators are embedded within the operating costs and revenue calculations. Interconnect charges for incoming calls are explicitly included in the definition of Service revenue. Lower roaming revenue was noted as a factor impacting service revenue performance in Germany.

The cost structure was significantly impacted by non-cash impairment charges. Vodafone reported a loss before tax of €1.48 billion for FY25, compared to a profit of €1.62 billion in the prior year, primarily due to non-cash impairment charges totalling €4.5 billion related to its German and Romanian operations. This charge led to a Basic loss per share from continuing operations of 15.86 eurocents in FY25, down from earnings per share of 4.45 eurocents in FY24.

Key components of the FY25 Cost Structure:

• Non-cash impairment charges: €4.5 billion.
• Total Group Capital Additions (Capex): €6.862 billion.
• Role efficiencies completed/actioned: 7,700.
• Reported Restructuring Expenses: approximately €250 million.
• Depreciation on leased assets: €3,205 million.

Vodafone Group Public Limited Company (VOD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Vodafone Group Public Limited Company brings in cash as of late 2025. It's a story of core connectivity services, bolstered by digital growth and a significant financial services arm in Africa. Honestly, the numbers show a business actively reshaping itself through disposals while pushing organic growth in its remaining footprint.

The Total Revenue for the fiscal year ending March 2025 was reported at €37.4 billion. This represented a 2.0% increase over the prior year, even with adverse foreign exchange movements weighing on the final reported figure.

The largest component remains Service Revenue, which grew organically by 5.1% to reach €30.8 billion in FY25. This growth was broad-based across Europe, Africa, and Türkiye, successfully offsetting the anticipated slowdown in Germany.

Here's a quick look at the main revenue categories based on the reported figures:

Revenue Stream Category	FY25 Reported Amount
Total Revenue	€37.4 billion
Service Revenue	€30.8 billion
Other Revenue (Includes Equipment Revenue)	€6.6 billion

Drilling down into the Service Revenue, which covers your Mobile Service Revenue and Fixed Service Revenue, you see where the core business strength lies:

• Organic service revenue growth across the Group for FY25 was 5.1%.
• Vodafone Business, which includes B2B connectivity and digital services, saw organic service revenue growth of 4.0%.
• The UK market delivered organic service revenue growth of 1.9%.
• Türkiye showed exceptionally strong organic service revenue growth at 83.4%.
• Germany service revenue declined by 5.0%, largely due to the MDU TV law change impact.

Digital and IT Services Revenue, which complements the core connectivity, is scaling up. You can see this in the growth of Vodafone Business and the overall digital contribution:

• Digital services now represent approximately 10% of the Group's total service revenue.
• Vodafone Business, a key driver for digital and IT services like Cloud, IoT, and Security, grew its service revenue by 4.0%.

Equipment Revenue is captured within the 'Other Revenue' figure, which is the difference between Total Revenue and Service Revenue. For FY25, this residual category amounted to approximately €6.6 billion (€37.4 billion Total Revenue minus €30.8 billion Service Revenue). This stream is typically driven by handset and device sales supporting the mobile and fixed customer bases.

The Financial Services Revenue stream is heavily concentrated in Africa through M-Pesa. This is a distinct and high-growth area for Vodafone Group, primarily via its stake in Vodacom:

• Financial services customers across the footprint reached 88 million.
• Financial services revenue within Vodacom for FY25 was €0.7 billion.
• Specifically in Vodacom's international markets, M-Pesa revenue grew by 10.0% to reach €427.9 million.

Finance: draft 13-week cash view by Friday.