Financial Data and Key Metrics Changes - Group service revenue growth accelerated to 5.8% in Q2, supported by growth across both Europe and Africa [5][6] - Europe's service revenue returned to growth at 0.5%, driven by stabilization in Germany and growth in The UK [5][6] - Adjusted EBITDA saw an organic growth of 6.8% in the first half [7] Business Line Data and Key Metrics Changes - In Germany, service revenue grew by 0.5% despite intense competition, aided by the end of the MDU TV law change and acceleration in wholesale revenue [6][9] - The B2B business grew at 2.9% in Q2, with strong demand for digital services growing in double digits [6][10] Market Data and Key Metrics Changes - The UK market showed strong performance in the first full quarter post-merger with Three, with measurable improvements in network and customer experience [5][12] - Emerging markets, particularly Turkey and Vodacom, continued to deliver strong growth in euro terms [6] Company Strategy and Development Direction - The company is focused on operational turnaround in Germany and executing integration plans in The UK, aiming to improve customer experience and simplify operations [20] - A progressive dividend policy has been announced, with a planned 2.5% increase in the final FY26 dividend [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering at the upper end of FY 2026 guidance due to solid performance and positive outlook [7][20] - The company is positioned in markets with sustainable structures and good local scale, with a focus on high growth opportunities such as IoT and digital services [19][20] Other Important Information - The company has returned over €3 billion of capital to shareholders via buybacks and dividends since the capital allocation framework was refreshed [14][15] - The incoming CFO, Pilar Lopets, emphasized the importance of operational excellence and sustainable cash flow growth [18] Q&A Session Summary Question: What are the expectations for future growth? - Management confirmed that Vodafone is now growing service revenue in Europe and Africa, with a focus on operational turnaround and integration plans [19][20] Question: How is the integration with Three progressing? - The integration is off to a fast start, with improvements in customer loyalty and measurable network enhancements already noted [12]

Vodafone Group returns to growth in Germany, after bringing on 1&1 AG as a new wholesale customer in its biggest market https://t.co/DwnYFjyCbY ...

Vodafone's shareholders will be rewarded with the first dividend increase in eight years after a return to growth in Germany helped the European mobile and broadband operator upgrade its earnings outl... ...

Core Points - Major European telecom companies are urging the European Commission to relax merger rules to boost investment in digital infrastructure and enhance competitiveness against US and Asian rivals [1] - The CEOs of Deutsche Telekom, Orange, Telefónica, TIM, Vodafone, Nokia, and Ericsson have expressed their concerns in a joint letter to the Commission President, highlighting the need for bold actions to address scale requirements [1] - The upcoming Digital Networks Act, expected to be proposed in November, aims to promote the development of digital infrastructure in Europe, but has faced internal opposition within the European Commission [1] Group 1 - European telecom companies are advocating for changes in merger regulations to facilitate investment [1] - The Digital Networks Act is seen as a critical opportunity for the industry to enhance competitiveness [1] - Internal opposition within the European Commission poses challenges to the proposed legislation [1]

Core Insights - The article discusses the investment strategies and market coverage of a senior analyst with over 10 years of experience in European and North American markets [1] Group 1: Analyst Profile - The analyst is a senior analyst and private portfolio manager with extensive experience in generating value ideas in various markets [1] - The analyst contributes to investing groups such as iREIT®+HOYA Capital and Wide Moat Research LLC, focusing on reasonably valued stock ideas [1] Group 2: Market Coverage - The analyst covers a wide range of markets including Scandinavia, Germany, France, UK, Italy, Spain, Portugal, and Eastern Europe [1] - The focus is on identifying investment opportunities in both European and North American markets [1]

Core Insights - Vodafone and AST SpaceMobile announced a plan to establish a Europe-led satellite constellation aimed at providing connectivity services between satellites and smartphones for commercial and government applications [1][2] - The satellite constellation's European operations center will be located in Germany, with potential sites near Munich or Hanover [1] - The project is expected to compete with SpaceX's Starlink, which has over 8,000 satellites deployed [2] Industry Overview - The demand for broadband internet in remote areas is driving satellite service providers to offer mobile network connectivity [1] - According to Novaspace, the satellite-to-phone connectivity market could exceed $10 billion by 2033 [1] - Vodafone and AST SpaceMobile's satellite constellation will support broadband services, public safety, and disaster relief efforts for European mobile network operators [1] Company Developments - AST SpaceMobile plans to deploy up to 60 satellites by 2026, currently operating 6 satellites [2] - Vodafone, as an investor in AST SpaceMobile, reported interest from operators in 21 EU member states for satellite-based communication services [2] - The commercial operation of the satellite constellation is planned to begin in 2026, providing a "sovereign satellite solution" for secure satellite communication services in Europe [2]

Core Viewpoint - Vodafone and AST SpaceMobile are collaborating to create a satellite constellation that will provide satellite-to-smartphone connectivity for both commercial and government applications throughout Europe [1] Company Summary - Vodafone is partnering with AST SpaceMobile to enhance connectivity solutions [1] - The initiative aims to bridge connectivity gaps in Europe, potentially transforming communication capabilities [1] Industry Summary - The project represents a significant advancement in satellite communication technology, focusing on direct smartphone connectivity [1] - This development could lead to increased competition in the telecommunications sector, particularly in satellite communication services [1]

Core Insights - Vodafone Group and AST SpaceMobile have chosen Germany for their main Satellite Operations Centre to enhance mobile broadband connectivity across Europe, particularly in underserved areas and for emergency services [1][5][7] Group 1: Satellite Operations Centre - The Satellite Operations Centre will manage satellite connectivity for mobile network operators (MNOs) in Europe, ensuring widespread mobile broadband access [1][2] - The centre's location will be finalized near Munich or Hannover, depending on negotiations [1] - The establishment of the centre is part of a joint venture, SatCo, aimed at providing a sovereign satellite solution for Europe [7] Group 2: Satellite Network and Services - AST SpaceMobile is developing the first space-based cellular broadband network that can be accessed directly by smartphones, targeting both commercial and government applications [2] - The planned satellite constellation will include a 'command switch' feature for European oversight and security, allowing for the management of encryption keys and satellite beam direction [3][9] - The constellation will support public protection and disaster relief (PPDR) by providing reliable connectivity to emergency responders [4][5] Group 3: Infrastructure and Operations - The Operations Centre will monitor extraterrestrial events and manage terrestrial issues, housing ground-based gateway stations for secure links between the satellite constellation and terrestrial networks [6] - The strategic location in Germany will facilitate the integration of satellite services with existing mobile telecom networks, enhancing connectivity across Europe [9] - The planned satellite system aims to support frequency bands suitable for PPDR communications, aligning with the EU Critical Communication System vision [5][9]

Core Insights - AST SpaceMobile Inc. is developing the first and only space-based cellular broadband network that can be accessed directly by everyday smartphones, targeting both commercial and government applications [1] - Vodafone Group Plc has partnered with AST SpaceMobile to establish a Satellite Operations Center in Germany [1] Company Overview - AST SpaceMobile Inc. is listed on NASDAQ under the ticker ASTS and focuses on creating a satellite network for mobile connectivity [1] - Vodafone Group Plc is a prominent telecommunications company operating in Europe and Africa, listed on the London Stock Exchange under the ticker VOD [1] Strategic Developments - The selection of Germany as the location for the main Satellite Operations Center signifies a strategic move to enhance operational capabilities for the satellite network [1]

Core Insights - Iridium Communications Inc. has announced a partnership with Vodafone IoT to integrate Iridium NTN Direct service, enhancing global connectivity for Vodafone IoT customers, particularly in remote locations [1][2][4]. Partnership Details - The partnership will allow Vodafone IoT to utilize Iridium NTN Direct, a 3GPP standards-based service that provides NB-IoT and direct-to-device connectivity, ensuring continuous connection for customers and their assets [2][4]. - The commercial launch of Iridium NTN Direct is planned for 2026, focusing on data messaging, tracking, and real-time monitoring for IoT, automotive, and industrial devices [3][5]. Industry Impact - This collaboration is expected to transform global connectivity by offering unmatched coverage, reliability, and scalability, particularly beneficial for industries requiring connectivity in extremely remote areas such as wind farms and oil pipelines [4][5]. - The Iridium network is noted for its reliability and low-power connectivity, making it ideal for NB-IoT and D2D applications, which are critical in remote and mobile environments [4]. Company Background - Iridium Communications Inc. is recognized as a leading provider of global voice, data, and PNT satellite services, with a history of delivering high-reliability safety services [5]. - Vodafone IoT is a global leader in managed IoT connectivity services, with over 215 million devices connected across more than 180 countries, emphasizing its commitment to reliable and secure IoT solutions [6][7].