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Vodafone Spain eyes profit in 2020

March 12, 2019

From David Del Valle in Madrid

Vodafone Spain aims to go back to profit in 2020 – the first profits since the acquisition of ONO in 2015.

This is the forecast from the company included in the file submitted to the Spanish authorities to justify the 1,000 job cuts in its redundancy plan, according to El Español.

Vodafone estimates that the job cuts along with the savings in the football rights bill will drive the company to profit in the fiscal year 2019-2020.

The company paid €7.2 billion for ONO in 2015 resulting in a negative EBIT that year of €286.8 million with negative results the following years ending last year with a negative EBIT of €123 million.

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