REG - Vodafone Group Plc - Change in reporting to reflect reshaped Group

VodafoneAnnouncement

07/05/2024 07:15

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RNS Number : 3365N  Vodafone Group Plc  07 May 2024

 Change in reporting to reflect reshaped Group

 

Following the announced sale of Vodafone Spain and Vodafone Italy, both
businesses will now be reported as discontinued operations.(1) The change in
reporting will be reflected in our FY24 Group financial results (year ended 31
March 2024).

Therefore, to aid comparability with prior periods and reflect the new
reporting structure of the Group (excluding Vodafone Spain and Vodafone
Italy)(2), pro forma financial information for both FY23 and H1 FY24 is
provided below.

A more detailed breakdown is available on our Investor Relations website:
investors.vodafone.com (https://investors.vodafone.com) .

 

 Group financial results(*)  Continuing operations pro forma         Change vs. previously reported results
                             H1 FY23   H2 FY23   FY23      H1 FY24   H1 FY23     H2 FY23     FY23        H1 FY24
                             €m        €m        €m        €m        €m          €m          €m          €m
 Service revenue             15,366    14,952    30,318    14,861    (3,841)     (3,810)     (7,651)     (3,757)
 Total revenue               18,949    18,723    37,672    17,983    (3,981)     (4,053)     (8,034)     (3,954)
 Adjusted EBITDAaL           6,136     6,288     12,424    5,427     (1,108)     (1,133)     (2,241)     (951)
 Adjusted EBITDAaL margin    32.4%     33.6%     33.0%     30.2%     0.8%        1.0%        0.9%        1.1%
 Capital additions           3,016     4,051     7,067     2,877     (525)       (786)       (1,311)     (488)
 Adjusted free cash flow     (536)     4,675     4,139     (1,380)   (23)        (680)       (703)       94
 * Adjusted EBITDAaL, Adjusted EBITDAaL margin and Adjusted free cash flow are
 non-GAAP measures. See page 40 of Vodafone's H1 FY24 results announcement for
 more information.

 

 Group organic      1 April 2022 - 31 March 2023                     1 April 2023 - 31 March 2024

growth rates(*)
                    Q1     Q2     H1     Q3     Q4     H2     FY23   Q1        Q2        H1        Q3
                    %      %      %      %      %      %      %      %         %         %         %
 Service revenue    4.0    4.5    4.2    3.9    3.4    3.6    3.9    5.4       6.6       6.0       6.3
 Total revenue      4.9    6.9    5.9    4.9    4.3    4.6    5.3    5.3       4.0       4.6       5.9
 Adjusted EBITDAaL                (0.4)                1.7    0.6                        3.3
 * Organic service revenue, total revenue and Adjusted EBITDAaL growth are
 non-GAAP measures. See page 40 of Vodafone's H1 FY24 results announcement for
 more information.

 

 Group organic       1 April 2022 - 31 March 2023                     1 April 2023 - 31 March 2024

growth rates

(excl. Turkey)(*)
                     Q1     Q2     H1     Q3     Q4     H2     FY23   Q1        Q2        H1        Q3
                     %      %      %      %      %      %      %      %         %         %         %
 Service revenue     3.0    3.2    3.1    2.3    1.6    1.9    2.5    3.0       4.2       3.6       3.6
 Total revenue       3.7    5.4    4.5    2.9    2.2    2.6    3.5    2.3       1.1       1.7       2.9
 Adjusted EBITDAaL                 (1.7)                0.4    (0.7)                      0.6
 * Organic service revenue, total revenue and Adjusted EBITDAaL growth are
 non-GAAP measures. See page 40 of Vodafone's H1 FY24 results announcement for
 more information.

Notes

1.   Vodafone Spain and Vodafone Italy will be recognised as discontinued
operations until such a time as the transactions complete. The financial
results of Vodafone Spain and Vodafone Italy will continue to be reflected in
Vodafone Group's consolidated financial statements. However, the financial
results from these businesses will be reported as discontinued operations and
will therefore be reported separately from our continuing operations.

2.   Reporting segments will now comprise Germany, UK, Other Europe, Turkey
(previously known as 'Other Markets') and Africa (previously known as
'Vodacom').

3.   The pro forma view of our FY23 and H1 FY24 financial results has been
prepared for illustrative purposes only. The pro forma view of our FY23 and H1
FY24 financial results is based on factually supportable pro forma
adjustments, which we consider reasonable. Future results of operations may
differ materially from those presented.

- ends -

 

 

 For more information, please contact:
 Investor Relations:  i (https://investors.vodafone.com) nvestors.vodafone.com  ir@vodafone.co.uk (mailto:ir@vodafone.co.uk)  Media Relations:  Vodafone.com/media/contact (https://Vodafone.com/media/contact)  GroupMedia@vodafone.com (mailto:GroupMedia@vodafone.com)
                      (https://investors.vodafone.com)
 Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14
 2FN, England. Registered in England No. 1833679

About Vodafone

Vodafone is the largest pan-European and African telecoms company. We provide
mobile and fixed services to over 300 million customers in 17 countries,
partner with mobile networks in 45 more and have one of the world's largest
IoT platforms. In Africa, our financial technology businesses serve more than
76 million customers across eight countries - managing more transactions than
any other provider.

Our purpose is to connect for a better future by using technology to improve
lives, businesses and help progress inclusive sustainable societies. We are
committed to reducing our environmental impact to reach net zero emissions by
2040.

 

For more information, please visit www.vodafone.com, follow us on X (formerly
Twitter) at @VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone.

 

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