Mucahithan Avcioglu
May 20, 2025•Update: May 20, 2025
ISTANBUL
British telecommunications company Vodafone reported an operating loss of €411 million ($462.3 million) for the 2025 financial year, warning Tuesday that uncertainties around foreign exchange rates and trade policies could affect future earnings.
"The current macroeconomic climate presents significant uncertainties, particularly on trade and foreign exchange rates, which may impact our financial performance in the year ahead,” the company said.
The loss was driven by impairment charges totaling €4.5 billion related to Vodafone’s operations in Germany and Romania, according to its preliminary financial results.
In the previous year, Vodafone had posted a net profit of €3.7 billion.
However, revenue in 2025 rose 2% year-on-year to €37.4 billion.
The company said it expects adjusted core earnings to range from €11 billion to €11.3 billion in the 2026 financial year.
In 2025, Vodafone’s adjusted core earnings came in at €11 billion, in line with its guidance.
The company also expects difficulties in its German operations to ease by next year, with sales growth projected to resume.
Vodafone also announced a new €2 billion share buyback program.
