Half Year 2022 Vodafone Group PLC Earnings Call - Q&A Session Transcript
Good morning, and welcome to our H1 financial results. And I'm joined with Margherita. You will, of course, have the chance to read our results and see the videos on our website. If you've not had the chance, please do so. I hope it gives you a very good detailed summary of how we're performing.
And we're going to go to Q&A. But maybe before we do, I just thought I would just cover really four key points. The first is the financial performance in the half demonstrates the sustainable growth engine that we're building at Vodafone. Our results are in line with our expectations for the year and the medium-term financial ambition. Service revenue grew 2.8% in the first half. We had EBITDAaL growth of 6.5%. I think importantly, return on capital, which is very important to us, moved up 80 basis points to 6.3%. And that combination gave us confidence to move up guidance to the upper half of the range for EBITDAaL of between EUR 15.2 billion and EUR 15.4 billion and move up our adjusted free cash flow
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