Disclosure information

Vodafone Group Plc 09 November 2006 9 November 2006 INFORMATION RELATING TO INTERIM RESULTS Vodafone Group Plc ('Vodafone') is publishing today additional disclosure information to assist investors and analysts in their understanding of Vodafone's results for the six months ended 30 September 2006 to be announced on 14 November 2006. In April 2006, Vodafone announced a revised organisational structure, principally aimed at creating a European region and an Eastern Europe, Middle East and Africa, Asia Pacific and Affiliates ('EMAPA') region, effective from 1 May 2006. Consequently, the interim results will present segmental financial information, including comparative information, for the Group in accordance with this new regional structure. Furthermore, Vodafone will provide additional analysis of certain key Group financial reporting measures by segment and by country. Certain unaudited comparative information for the six months ended 30 September 2005 and the year ended 31 March 2006 is provided below in respect of this revised disclosure. The financial information contained in this document is for convenience only and does not contain sufficient information to allow a full understanding of the historical results and state of affairs of Vodafone and the Vodafone Group. For more detailed information, including definitions of terms, regarding the financial results of the Vodafone Group for the financial periods referred to in this announcement, please refer to Vodafone's interim results announcement for the six months ended 30 September 2005 or Vodafone's Annual Report for the year ended 31 March 2006 relating to such financial period, as appropriate, which in each case can be found on our website (www.vodafone.com). For further information: Vodafone Group Investor Relations Tel: +44 (0) 1635 664447 SEGMENTAL AND OTHER ANALYSES SIX MONTHS ENDED 30 SEPTEMBER 2005 ---------------------------------- (note 1) Intra- Inter- Segment Joint Common region Regional region Net revenue Subsidiaries ventures Eliminations functions revenue revenue revenue revenue Revenue £m £m £m £m £m £m £m £m £m ---------------------------------- Continuing operations: Germany 2,913 (25) 2,888 (56) 2,832 Italy 2,240 (22) 2,218 (3) 2,215 Spain 1,968 (58) 1,910 (1) 1,909 UK 2,568 (25) 2,543 (4) 2,539 Other Europe 2,437 (47) 2,390 (1) 2,389 ------------------------------------------------------------------------------------------------------- Europe 12,126 9,892 2,240 (6) (177) 11,949 (65) 11,884 ------------------------------------------------------------------------------------------------------ Eastern Europe 618 - 618 (4) 614 Middle East, 755 - 755 (5) 750 Africa and Asia Pacific 636 - 636 (5) 631 ------------------------------------------------------------------------------------------------------ EMAPA 2,009 1,383 632 (6) - 2,009 (14) 1,995 ------------------------------------------------------------------------------------------------------ Other 622 622 - - 70 - 692 (23) 669 ------------------------------------------------------------------------------------------------------ 14,757 11,897 2,872 (12) 70 (177) 14,650 (102) 14,548 ====================================================================================================== -------------------------------- (note 1) Operating (note 2) Adjusted Segment Joint Common profit/ Other operating result Subsidiaries ventures Associates functions loss adjustments profit £m £m £m £m £m £m £m £m -------------------------------- Adjusted operating profit Continuing operations: Germany 775 775 - 775 Italy 923 923 - 923 Spain 529 529 - 529 UK 320 320 - 320 Other Europe (23) (23) 515 492 ---------------------------------------------------------------------------------------------------------- Europe 2,524 1,598 923 3 2,524 515 3,039 ---------------------------------------------------------------------------------------------------------- Eastern 90 90 - 90 Europe Middle East, 236 236 - 236 Africa and Asia Pacific 58 58 - 58 Associates - US 772 772 - 772 Associates - Other 415 415 (19) 396 ---------------------------------------------------------------------------------------------------------- EMAPA 1,571 214 170 1,187 1,571 (19) 1,552 ---------------------------------------------------------------------------------------------------------- Other 38 38 - - 153 191 - 191 ---------------------------------------------------------------------------------------------------------- 4,133 1,850 1,093 1,190 153 4,286 496 4,782 ========================================================================================================== Notes: (1) Common functions represents results from Partner Markets and unallocated central Group income and expenses (2) Comprises impairment to the carrying value of goodwill relating to the mobile operations in Sweden amounting to £515 million offset by £19 million of non-operating income in relation to the Group's associated undertakings SEGMENTAL AND OTHER ANALYSES (CONTINUED) YEAR ENDED 31 MARCH 2006 ---------------------------------- (note 1) Intra- Inter- Segment Joint Common region Regional region Net revenue Subsidiaries ventures Eliminations functions revenue revenue revenue revenue Revenue £m £m £m £m £m £m £m £m £m ---------------------------------- Continuing operations: Germany 5,754 (52) 5,702 (100) 5,602 Italy 4,363 (39) 4,324 (4) 4,320 Spain 3,995 (100) 3,895 (2) 3,893 UK 5,048 (50) 4,998 (10) 4,988 Other Europe 4,697 (78) 4,619 (3) 4,616 ------------------------------------------------------------------------------------------------------ Europe 23,857 19,503 4,363 (9) (319) 23,538 (119) 23,419 ------------------------------------------------------------------------------------------------------ Eastern Europe 1,435 - 1,435 (14) 1,421 Middle East, 1,784 - 1,784 (15) 1,769 Africa and Asia Pacific 1,335 - 1,335 (14) 1,321 ------------------------------------------------------------------------------------------------------ EMAPA 4,554 3,077 1,489 (12) - 4,554 (43) 4,511 ------------------------------------------------------------------------------------------------------ Other 1,320 1,320 - - 145 - 1,465 (45) 1,420 ------------------------------------------------------------------------------------------------------ 29,731 23,900 5,852 (21) 145 (319) 29,557 (207) 29,350 ====================================================================================================== -------------------------------- (note 1) Operating (note 2) Adjusted Segment Joint Common (loss)/ Other operating result Subsidiaries ventures Associates functions profit adjustments profit £m £m £m £m £m £m £m £m -------------------------------- Adjusted operating profit Continuing operations: Germany (17,904) (17,904) 19,400 1,496 Italy (1,928) (1,928) 3,600 1,672 Spain 968 968 - 968 UK 698 698 - 698 Other Europe 466 466 512 978 ----------------------------------------------------------------------------------------------------- Europe (17,700) (15,777) (1,928) 5 (17,700) 23,512 5,812 ----------------------------------------------------------------------------------------------------- Eastern Europe 176 176 - 176 Middle East, 523 523 - 523 Africa and Asia Pacific 140 140 - 140 Associates - US 1,732 1,732 - 1,732 Associates - Other 683 683 (17) 666 ----------------------------------------------------------------------------------------------------- EMAPA 3,254 472 367 2,415 3,254 (17) 3,237 ----------------------------------------------------------------------------------------------------- Other 147 139 - 8 215 362 (12) 350 ----------------------------------------------------------------------------------------------------- (14,299) (15,166) (1,561) 2,428 215 (14,084) 23,483 9,399 ===================================================================================================== Notes: (1) Common functions represents results from Partner Markets and unallocated central Group income and expenses (2) Comprises impairments to the carrying value of goodwill relating to the mobile operations in Germany, Italy and Sweden amounting to £23,515 million offset by £17 million of non-operating income in relation to the Group's associated undertakings and £15 million of other items TRADING RESULTS SIX MONTHS ENDED 30 SEPTEMBER 2005 Europe EMAPA Other Eliminations Group £m £m £m £m £m Continuing operations: Voice revenue 9,226 1,616 - (71) 10,771 Messaging revenue 1,417 196 - - 1,613 Data revenue 474 38 - (8) 504 Fixed line and DSL revenue - - 622 (19) 603 ----------------------------------------------------------------------------------- Total service revenue 11,117 1,850 622 (98) 13,491 Acquisition revenue 484 120 - (1) 603 Retention revenue 198 4 - - 202 Other revenue 150 35 70 (3) 252 ----------------------------------------------------------------------------------- Total revenue 11,949 2,009 692 (102) 14,548 Interconnect costs (1,816) (352) (186) 98 (2,256) Other direct costs (743) (203) (90) 4 (1,032) Acquisition costs (1,181) (207) (30) - (1,418) Retention costs (844) (43) (37) - (924) Operating expenses (2,454) (473) (84) - (3,011) ----------------------------------------------------------------------------------- EBITDA 4,911 731 265 - 5,907 Acquired intangibles amortisation (3) (49) - - (52) Purchased licence amortisation (441) (30) - - (471) Depreciation and other amortisation (1,431) (268) (74) - (1,773) Share of result in associates 3 1,168 - - 1,171 ----------------------------------------------------------------------------------- Adjusted operating profit 3,039 1,552 191 - 4,782 Adjustments for: - Impairment losses (515) - - - (515) - Non-operating income of associates - 19 - - 19 ----------------------------------------------------------------------------------- Operating profit 2,524 1,571 191 - 4,286 =================================================================================== REGIONAL ANALYSIS Revenue EBITDA Adjusted operating Capitalised fixed Free cash flow(1) profit asset additions ------------------ ---------------- ------------------- ------------------- ------------------ Six Six Six Six Six Year months Year months Year months Year months Year Months ended ended ended ended ended ended ended ended ended ended 31.3.06 30.9.05 31.3.06 30.9.05 31.3.06 30.9.05 31.3.06 30.9.05 31.3.06 30.9.05 £m £m £m £m £m £m £m £m £m £m EUROPE Germany 5,754 2,913 2,703 1,353 1,496 775 592 296 2,167 1,090 Italy(2) 4,363 2,240 2,270 1,207 1,672 923 541 191 1,808 1,024 Spain 3,995 1,968 1,373 721 968 529 502 183 958 438 UK 5,048 2,568 1,623 781 698 320 665 265 942 396 Greece 1,233 625 470 241 317 164 108 59 336 152 Netherlands 1,174 604 369 185 219 106 124 52 224 117 Portugal 899 452 286 146 163 84 115 53 153 48 Other 1,400 762 510 277 279 138 164 102 310 142 Intra-region revenue (328) (183) - - - - - - - - ------------------ ---------------- ------------------- ------------------- ------------------ Total Europe 23,538 11,949 9,604 4,911 5,812 3,039 2,811 1,201 6,898 3,407 EMAPA Romania(3) 533 213 254 105 88 40 104 50 159 74 Egypt 555 255 307 141 212 98 167 56 190 101 South Africa(2) 1,070 454 388 164 271 122 202 81 178 64 Pacific 1,335 636 362 167 140 58 247 137 112 28 Other subsidiaries 675 298 195 88 42 25 132 68 61 41 Other Joint Ventures(2) 387 153 153 66 86 41 101 40 60 33 United States - - - - 1,732 772 - - - - Other Associates - - - - 666 396 - - - - Intra-region revenue (1) - - - - - - - - - ------------------ ---------------- ------------------- ------------------- ------------------ Total EMAPA(4) 4,554 2,009 1,659 731 3,237 1,552 953 432 760 341 Common functions 145 70 275 182 211 153 112 53 (19) 37 Other operations 1,320 622 228 83 139 38 129 64 56 (24) Inter-region revenue (207) (102) - - - - - - - - ------------------ ---------------- ------------------- ------------------- ------------------ Total Group 29,350 14,548 11,766 5,907 9,399 4,782 4,005 1,750 7,695 3,761 ================== ================ =================== =================== Net interest paid (349) (165) Tax paid (1,712) (698) Dividends received and other 784 354 ----------------- Free cash flow - Continuing operations 6,418 3,252 - Discontinued operations (note 5) 701 443 ----------------- 7,119 3,695 ================= Notes: (1) For the Group's operating companies, common functions and other operations, the cash flows presented reflect operating free cash flow (2) The results of joint ventures have been included using proportionate consolidation (3) Includes periods in the 2006 financial year where accounted for as a joint venture (4) With effect from the six months ended 30 September 2006, financial information for Turkey will also be disclosed following its acquisition in that period (5) Discontinued operations represent Vodafone Japan This information is provided by RNS The company news service from the London Stock Exchange

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