Vodafone shares collapsed amid economic problems in Germany.

Decline in Vodafone's revenues in Germany

Vodafone has announced a continued decline in revenues in its main market, Germany. In the third quarter of this year, service revenues fell by 6.4%, following a previous decrease of 6.2% in the second quarter. The main reasons for this decline were changes in legislation regarding pay-TV and increased competition in the mobile sector.

The company has lost more than half of its customers who used cable television in apartment buildings. This led to a drop in the share price of over 6% and the cancellation of all previously obtained profits.

Increase in revenues in the UK

At the same Time, there is an increase in the company’s revenues in the UK, where it is preparing for a merger with the operator Three. In the third quarter, service revenue increased by 7.6%. The number of mobile subscribers rose by 37 thousand, while the number of broadband Internet clients increased by 72 thousand.

Future forecasts

Despite the problems in Germany, Vodafone maintains its forecasts for the year. They anticipate generating 11 billion euros in core profit and at least 2.4 billion euros in adjusted free cash flow.