Vodafone Raises Cost-Cutting Target for UK Business Unit

The British telecom group announced on Thursday that it now expects Vodafone Three to achieve annual cost savings of £1 billion (approximately $1.32 billion) in the fiscal year ending March 2032, up from a previous target of £700 million by the end of FY2030. Vodafone also stated that adjusted EBITDA excluding lease expenses—a core profitability metric for the telecom industry—for its UK division will grow at a mid-to-high single-digit percentage annually between FY2025 and FY2032. Additionally, the group set a target to more than triple Vodafone Three's operating free cash flow by FY2032 compared to FY2025 levels.