Vodafone Greece invests €15m in retail revamp

Vodafone Greece has already modernised around 60 of its 245 stores as part of a €15 million investment programme to upgrade its retail network.

As part of the programme, the company has opened a new store at The Mall Athens, where it is rolling out a new approach to technology sales and customer service. The upgrades include a broader range of products, technical support services and modernised IT and connectivity infrastructure, leveraging fibre-optic technology and 5G.

Vodafone is also continuing its broader €1 billion investment programme for 2024–2029, focusing primarily on expanding its fibre-optic and 5G networks.

According to its financial statements, the telecommunications company recorded lower revenue and higher losses in the financial year from 1 April 2024 to 31 March 2025.

Revenue from customer contracts stood at €996.9 million, down from €1,019.1 million in the previous financial year, a decline of 2.2%. Including other income, total turnover reached €1.007 billion, compared with €1.027 billion a year earlier.

Pre-tax losses widened to €68.5 million from €15.6 million, while net losses rose to €82.9 million from €16.1 million. The increase was mainly attributable to a deterioration in financial results, from a positive €15.4 million to a negative €38 million, as well as a rise in the tax charge from €0.5 million to €14.4 million. Operating losses, by contrast, remained almost unchanged at €30.5 million.

Mobile services revenue fell by 1.4% to €530.1 million, while fixed-line revenue recorded a sharper decline of 10.1% to €287.6 million. Other revenue from customer contracts rose by 25.2% to €90.4 million, attributed mainly to equipment sales related to public-sector projects and increased data usage by visitors to Greece.

Revenue from business customers, to whom Vodafone provides services including IT and digital transformation solutions, totalled €314.1 million.

Capital expenditure on property, plant and equipment and intangible assets amounted to €145 million, up from €144.1 million in the previous financial year. Operating cash flow was positive at €213.1 million, while intercompany borrowing stood at €569.3 million.

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