|
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.
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
growth rates*
|
1 April 2022 - 31 March
2023
|
1 April 2023 - 31 March
2024
|
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
growth rates
(excl. Turkey)*
|
1 April 2022 - 31 March
2023
|
1 April 2023 - 31 March
2024
|
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
-
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.