Represents a fall of , but in comparative terms excluding the impact of the type of change and hyperinflation in Turkey, as well as mergers and acquisitions, Vodafone's service revenue increases by 3.7%. Group services revenue fell 4.2% In Spain, revenue from services reached 871 million euros, which represents a drop of 3%, that is, an improvement of 0.7 percentage points in the first quarter of the year. It is the first time that Vodafone's revenue decline has stopped for the first time in the last four quarters. The strategy of the new CEO of Spain, Mário Vaz, who took office on April 1, represented a change in strategy for the company, which is attributed to the progressive recovery throughout the quarter, as the impact of the price increase on customers and the tactical measures implemented. Lowi, increases customers At the end of June 2023, the customer base continued to decline but in a more moderate manner.
In the case of mobile contract customers, the reduction reaches 86,000 customers. Fixed broadband clients are reduced by 65,000 clients and Job Function Email Database the television client portfolio is reduced by 33,000. For its part, Lowi maintained its value-focused strategy against ultra-lowcost operators. Contract mobile customers increase by 13,400. Luka Mucic, new financial director of the Vodafone Group British telecommunications operator Vodafone has announced the appointment of Luka Mucic as the group's new chief financial officer, effective September 1. In this way, the former financial director of the German company SAP, a position he held until March 31, will relieve the CEO of Vodafone, Margherita Della Valle, of these functions, who was compatible with her position since her appointment as top executive of the company at the end of last April.
The euro zone recession deepened early in the third quarter, according to a closely watched business survey that suggested the region's economy is contracting. The euro zone's Flash HCOB Composite Purchasing Managers' Index, a measure of business activity in the 20-nation bloc, fell to an eight-month low after a sharper-than-expected slowdown in the services and manufacturing in July. The result is expected to add to calls for the European Central Bank to stop raising interest rates after this week. The euro fell 0.5 percent against the US dollar to $1.107, while Germany's rate-sensitive two-year bond yield fell 6.5 basis points to 3.03 percent, as Investors bet against further rate hikes following Thursday's 25bp move. Falling to 48.9, down from 49.9 the previous month, the PMI index fell further below the 50 mark that separates contraction from expansion and raised fears of a possible recession in the eurozone economy. after two quarters of slight contraction. The U.K. economy is also slowing sharply, according to a separate PMI survey released on Monday that showed the British business activity index fell to a seven-month low of 50.7, down.