VODAFONE GROUP PLC (VOD) Q3 2020 Earnings Call Transcript

VODAFONE GROUP PLC (VOD) Q3 2020 Earnings Call Transcript

I'm with Margherita, and I will summarize our commercial performance in the quarter and cover some key strategic topics and then Margherita will go through our trading performance, before we answer your questions.. Turning to the highlights on Slide 3, overall, I think we're making good progress on our strategic and commercial priorities and we are on track with our plan.. Despite a competitive environment in Europe that remains challenging, especially in the value segment, we maintained our service revenue growth in Q3 with a 10 basis points improvement compared to Q2.. We have been actively managing our portfolio for some time with the goal to create two scale differentiated regional platforms in Europe and Sub-Saharan Africa.. The sale of Egypt largely completes this effort as well as generating over EUR2 billion in proceeds, which will reduce our debt.. Turning to Slide 4 which looks at our overall commercial performance more closely, I am encouraged by the continuous year-on-year improvements delivered in European churn, which you can see in the top left chart as we focus on our long-term ambition of the single-digit churn rate for all of our markets.. The performance is supporting a good reacceleration in our mobile