Vodafone Group(US:VOD) Jing Ji Guan Cha Wang·2026-02-12 13:12Core Viewpoint - Vodafone (VOD.US) has reaffirmed its guidance for the fiscal year 2026, indicating a strong performance outlook based on its latest quarterly results and strategic initiatives [1] Financial Performance - Vodafone expects its adjusted EBITDAaL to reach between €11.3 billion and €11.6 billion, and adjusted free cash flow to be between €2.4 billion and €2.6 billion for the fiscal year 2026 [2] Capital Movements - The company plans to increase its dividend per share by 2.5% year-on-year for the fiscal year 2026 and has initiated a new €500 million share buyback program, following the completion of a previous €3.5 billion buyback [3] Business Progress - Service revenue growth in the German market was below expectations, with only a 0.7% increase in Q3 of fiscal year 2026, which has contributed to recent stock price volatility. Future performance will depend on the recovery of the German business post-regulatory impacts and continued growth in the African market, which has seen a 13.5% organic growth for consecutive quarters [4] Strategic Developments - The merger with Three UK is progressing as planned, and the divestiture of operations in Italy and Spain has been completed. The effectiveness of the integration and the focus on core markets will be important to monitor [5]