Vodafone Group raised its fiscal 2027 guidance to reflect the consolidation of Safaricom, a Kenyan telecommunications provider, after its Vodacom subsidiary increased its stake to 55% from 35%. The U.K. telecommunications company now expects adjusted earnings before interest, taxes, depreciation, amortization after leases of between 13 billion and 13.3 billion euros ($14.78 billion-$15.12 billion), up from the previous range of 11.9 billion to 12.2 billion euros.

The raised outlook places the key earnings metric at the upper end of the new guidance. The consolidation of Safaricom, which operates in Kenya, drives the increase as Vodafone integrates the business more fully into its group results.

Despite the higher earnings forecast, the company maintained its adjusted free cash flow projection between 2.6 billion and 2.9 billion euros for the period. The move underscores Vodafone's focus on its African operations as a growth engine.