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Vodafone Spain lost 432 million euros in the 2020-2021 financial year that ended on March 31 of this year, according to the data of its Annual memory published at the beginning of the course. This figure reflects a tough year for the operator, but one of reconstruction, in which it began to see the light after a model crisis.
In this way, the sum of the results of all its companies grouped under the umbrella of Vodafone Holdings Europe, S.L.U, they yielded total losses of 432,042,000 euros, reducing the red numbers of 453,547,000 euros from the previous year. This represents a reduction of 21 million euros less.
For the first time, the company groups all its companies under a single umbrella for the presentation of their accounts. In this way, this report for the 2020-2021 academic year reflects the numbers of Vodafone SAU and Vodafone ONO.
These figures are explained by the commercial improvement, cost cuts and the impulse of digitization by the company. All this in a context of trade war and onslaught of the low cost by most of the Spanish operators.
These data are not the best, but they are beginning to rebound after a bad 2018-2019 season in which the company decided not to issue the Champions League and El Partidazo. This season the operator lost almost a billion euros.
Asset depreciation
In this way, the accounts of Vodafone Holdings in the 2019-2020 academic year they reflect income of 4,166 million euros, this is slightly lower than the 4,296 million euros that a year ago they added Vodafone SAU and Vodafone ONO.
Regarding expenses, Vodafone Holding, personnel costs rose to € 394 million and operating costs to € 2,060 million. A year ago, Vodafone SAU had personnel expenses of 207 million and operating expenses of 1,777 million. As for Vodafone ONO operating expenses grew from 404 million to 416.7 million. Those of personnel went from 145 million to 69.9 million.
Finally, Ebitda was 968 million euros after the division of Vantage Towers with the company’s telecommunications towers in Spain. A year earlier, operating results were € 1,009 million.
During the 2020-2021 financial year Vodafone Holdings recorded a provision for portfolio depreciation in the investment that it maintains in Vodafone ONO for the amount of 318 million and recorded a reversal in the provision of Vodafone Spain of 297 million.
The value of the stakes that Vodafone Holdings Europe holds in group companies in the Spanish market has gone from 6,093 million euros in the 2019-2020 financial year to 5,097 million euros in the 2020-2021 financial year. Since 2018 the deterioration has been 5,689 million euros.
First quarter results
Regarding the first results of the new course for Vodafone, it received 1,030 million euros in Spain between April and June, the first quarter of its fiscal year, which represents an increase of 0.36% compared to the same period last year and a 3.8% organic growth.
Service revenues amounted to 925 million euros for the group, 0.5% more than in the same period last year and a growth of 0.8% in organic terms.
The company points out that it has benefited from a lesser effect of the coronavirus – compared to the quarter of hard confinement – and from a certain rebound in roaming and visitors, although it clarifies that part of this improvement has been neutralized by price competition.
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Reference-www.elespanol.com