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Vodafone Spain revenues and losses up

September 26, 2016

From David Del Valle in Madrid

Vodafone Spain increased revenue by 4 per cent to €3.866.8 billion but incurred in €207 million losses as of the end of March against €159.8 million the previous year.

The rise in losses is because of the costs from the redundancies following the acquisition of the cable company ONO and the investments in ultra high speed networks.

Vodafone registered a 40 per cent rise in the sale of mobiles up to €522.9 million, services amounted to €3.343 billion, down €5 million in comparison with the previous year.

Vodafone acquired ONO in 2014 for €7.200 billion. In 2015, the company cut 1,059 workers with a cost of €40.9 million.

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