VodafoneThree Q4 Financial Results

VodafoneThree is moving ahead of target in our mission to build the UK’s best network.

12 May 2026:

Max Taylor, CEO, VodafoneThree:

“VodafoneThree has moved at pace in the first year, putting us ahead of expectations. We have delivered confidently on our integration plan, helping facilitate Vodafone Group taking full ownership of VodafoneThree.

We are laser focused on our mission and purpose: to build the UK’s best network connecting every community, in every corner of the UK. Our customers have already benefited from increased coverage, faster speeds, and greater reliability. With a clear multi-brand strategy, customers will have even more reasons to choose us and we look forward to continuing to raise the bar for connectivity standards in the UK.”

Financial Summary

VodafoneThree’s financial results are reported as part of Vodafone Group – for more details please see Vodafone Group’s FY 2026 report.

Transformation on Track

We’ve made huge strides in creating one team, building on the best of both organisations, and believe we are creating something special in VodafoneThree.

Customers can now buy both Vodafone and Three products through our multi-brand channels.

We reaffirmed our commitment to UK high streets, announcing plans to remain in every town we currently have a presence, and to inject millions of pounds into our retail locations, as we established the largest retail footprint of any mobile network operator in the UK, supporting more than 4,500 jobs.

Ahead of target on our financial and commercial plans

By moving through our integration at pace, delivering our efficiency targets and revenue growth, our Adjusted EBITDAaL (profit) has grown strongly at 4.5%.

Our organic service revenue grew by +0.3% in FY26 as we navigated a challenging market. We delivered growth thanks to our good trading performance and careful management of value across our brands in Consumer and Wholesale, and offsetting Business decline due to the impact of planned managed services contract terminations and lower Business project activity, including a strategic change by a large customer.

In Consumer our value brands SMARTY, VOXI and Talkmobile have again had a great year, and we added 222,000 new Broadband customers - our best-ever year in Consumer Home Broadband, and an additional 56,000 through Fixed-Wireless Access (FWA). In Business, we have continued to drive good customer order value in a tough market, and we’ve had yet another excellent year in Wholesale, delivering strong growth.

A strong year of continued CX leadership

Our customers’ experience has never been better.

We have achieved our best-ever level of Ofcom complaints on Three – our score improved so significantly it achieved the lowest number of complaints in the industry - 40% lower year-on-year.

On Net Promoter Score we have maintained our lead in the market for Vodafone (overall, on mobile, on Pay Monthly and on network satisfaction), and on Three we have improved significantly, closing the gap to competitors.

We've delivered strong mobile contract churn improvement over the year, with underlying improvement across all brands and Home Broadband.

Beating the plan on network integration

We are moving ahead of target in our mission to build the UK’s best network.

We’ve shared spectrum to improve 4G performance for our Three and SMARTY customers by up to 40%, enabled our customers to use both networks at no extra cost, eliminated over 16,500 km2 of not-spots, and delivered our targets for the first year of deployment of our first 5G Standalone sites.

And our customers are already benefiting massively. We’ve been awarded ‘Best Network in London’ by NET CHECK and achieved their highest ever score; hit best-ever download speeds (up 38% on Vodafone) and we’ve hit best-ever levels of data reliability.

Just this week, Vodafone launched 5G Broadband to deliver fibre-like speeds to a further 3.7m premises (who previously didn’t have access) across the UK thanks to our network integration.

Vodafone Business UK continued the move to a single Vodafone Business brand. We progressed the shift from legacy services to digital, and delivered positive trading momentum, while maintaining a leading position in the market. Sales strengthened under a new operating model, with sales order value up year on year. Delivery continued at pace on major programmes including Data Communications Company (DCC), helping to significantly grow our IoT base.

We also launched our 5G+ Local Slicing proposition for business customers, delivering enhanced and dependable mobile connectivity with guaranteed performance for enterprises.

-Ends-

About VodafoneThree

VodafoneThree is the UK’s largest mobile network operator serving the fixed and mobile market, formed following the merger of Vodafone UK and Three UK in June 2025.

Through an unprecedented £11 billion investment, VodafoneThree will build the UK’s best network. The network will deliver reliable, quality connectivity to all nations and regions, creating as many as 13,000 jobs and laying a digital foundation for the country’s growth ambitions. VodafoneThree is the only mobile network operator with a fully funded, regulated and guaranteed network build plan, reaching 99% 5G Standalone population coverage by 2030 and 99.96% by 2034. From big cities to small towns, and everywhere in between, the company’s mission is to build the UK’s best network.

VodafoneThree is a private company, 51% owned by Vodafone and 49% owned by CK Hutchison Holdings. It encompasses all businesses and assets, including Vodafone UK, Three UK, VOXI Mobile, SMARTY and Talkmobile.

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