Vodafone plans £1bn cost reduction in UK

British Vodafone has announced plans to achieve annual cost savings of up to $1.3 billion by 2032, while increasing its cost-cutting target to £800 million by 2030, up from previous estimates of £700 million. The company aims to achieve a compound annual growth rate of between 5% and 9% in adjusted EBITDA from 2025 to 2032, and to ensure that the return on invested capital exceeds the cost of capital by 2032, reaching higher levels by 2034. The CEO expressed confidence in the opportunities ahead for the company and raised the cost reduction goal, adding that Vodafone will become even more important in driving its future growth.

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