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Vodafone 2022 Half-Year Financial Report: Operation Under Wartime Conditions

Vodafone Ukraine Group, part of the NEQSOL Holding, announces its 2022 half-year results.

Expenses related to war, such as emergency works and network repairs, assistance to the country and clients, massive forced migration of Ukrainians abroad, had a considerable impact on the company’s performance and its financials dynamics. Growth of indicators was due to successful operations in the first two months of the year.

Revenue of Vodafone Ukraine Group in the first half of 2022 increased by 3% compared to the same period a year ago and exceeded UAH 9.9b. OIBDA has grown to up UAH 5.76b. OIBDA margin increased by 2.1 pp up to 58.1%. Net profit amounted to UAH 663m.

CAPEX in the first half of 2022 made UAH 1.276b, which is 14% less than a year earlier. As of today, all elements of the core network operate in ordinary way. Vodafone Ukraine made all necessary steps for the quick switch to the backup scenario. Vodafone technical team is hard at work to restore damaged network and equipment: around 87% of sites are operating normally and the number is increasing. All critical elements of company’s technical and IT infrastructure have been diversified. Estimated loss of assets is approx. UAH 806m.

Massive forced migration of Ukrainians abroad because of the war negatively influenced the number of clients. As at the end of July 2022 Vodafone’s customer base was 16.6 million clients, including 1.76m forced to stay abroad.

Vodafone continues to support the country and its people. As at the end of July only in Ukraine free services were provided to over 13m clients, they totalled at least UAH 270m. Apart from that 1.5m clients in 32 countries received free services in roaming, total amount exceeded UAH 596m.

So far Vodafone Ukraine contributed around UAH 250m responding to various humanitarian needs in Ukraine.

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