VOD Vodafone Group Plc

   By Adria Calatayud 
 

Vodafone Group PLC said Tuesday that it expects a significant economic impact from coronavirus in its markets in fiscal 2021 and that it won't be immune to challenges posed by the pandemic, as it reported a swing to a pretax profit for fiscal 2020.

The U.K. telecommunications group said it isn't able to provide guidance on adjusted earnings before interest, taxes, depreciation and amortization for the year ahead given uncertainties. Based on its current assessments, adjusted Ebitda might be flat to slightly down in fiscal 2021 compared with a rebased fiscal 2020 baseline, Vodafone said.

For the year ended March 31, the company made a pretax profit of 795 million euros ($860.5 million) compared with a loss of EUR2.61 billion a year earlier, when it booked a loss over the sale of its Indian arm and wrote down the value of some of its assets. The company posted a narrowed net loss of EUR920 million compared with EUR8.02 billion a year before.

Revenue for the year increased 3% to EUR44.97 billion, the company said. Analysts expected revenue of EUR45.42 billion, according to a consensus taken from FactSet and based on estimates by 14 analysts.

Adjusted Ebitda--one of the company's preferred profit measures--rose 2.6% to EUR14.88 billion, against Vodafone's guidance range of EUR14.8 billion to EUR15.0 billion.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

May 12, 2020 02:40 ET (06:40 GMT)

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