UK mobile operator Vodafone Group (LON:VOD) Plc has reaffirmed its outlook for the 2023 financial year, which ends in March.

According to the company’s press release, adjusted EBITDA is still expected to be in the range of €15-15.2 billion. Free cash flow is estimated at around €5.1 billion.

Vodafone generated revenue of €11.638 billion in the third fiscal quarter, compared to €11.684 billion in the same period a year earlier. The figure was therefore down 0.4%, with organic growth of 2.7%.

Service revenue, a key indicator of telecom sales, declined 1.3% to €9.52 billion in October-December. In organic terms, the figure was up 1.8%.

Vodafone’s capitalization decreased by almost 10% over the past three months, while the FTSE 100 stock index rose by 8.2%.