Vodafone Spain posts 2% revenue rise and cuts debt after Zegona takeover

Vodafone Spain, owned by British investment fund Zegona, reported its first‑quarter results for fiscal year 2027 (April‑June 2026). Total revenue reached €916 million, up 2% year‑on‑year, while EBITDA grew 5% to €465 million and EBITDA after lease expenses rose to €324 million (+2.5%). Operating cash flow increased 1.5% to €204 million.

The carrier added 345 000 mobile lines to reach 12.864 million, including 37 000 new contract lines, and its fixed broadband base grew to 2.592 million accesses (+22 000). Debt net of cash fell 11% to €3.2 billion after a €3.7 billion refinancing completed on 14 July 2026, which will cut annual interest costs by roughly €60 million, bringing interest expense down from €294 million to about €170 million. Additional cost‑saving measures included the sale of a 40% stake in FiberPass to AXA for €400 million (half used to reduce debt) and a workforce reduction of around 900 employees through an employment regulation plan.