Info relating to the Half-yea
29 October 2009
INFORMATION RELATING TO THE HALF-YEAR FINANCIAL REPORT
Vodafone Group Plc ("Vodafone") is publishing today additional information to assist investors and analysts in their understanding of Vodafone's results for the six months ended 30 September 2009 to be announced on
10 November 2009.
The Group has changed how it determines and discloses segmental EBITDA and adjusted operating profit in order to ensure the Group's disclosures better reflect the contribution of each segment to the Group's underlying operating performance and remain consistent with internal reporting to management. The changes do not impact Vodafone's consolidated results.
Intercompany revenue and expenses arising from royalty fees for the use of the Vodafone brand, which were previously included within operating expenses, are now excluded from the calculation of EBITDA and adjusted operating profit of each segment and Common Functions. In addition intercompany charges for fixed asset usage, which were also previously included within operating expenses, are now reported within depreciation for purposes of calculating EBITDA of each segment.
As a result of the above changes:
-
each operating company's EBITDA, and therefore operating free cash flow, is now stated before intercompany royalty fees for use of the Vodafone brand and intercompany charges which are based on depreciation;
-
each operating company's adjusted operating profit is now stated before intercompany royalty fees for use of the Vodafone brand; and
-
Common Functions EBITDA and adjusted operating profit are now primarily comprised of the results of partner markets and the net result of unallocated central Group costs and exclude the income from intercompany royalty fees.
All periods within Vodafone's half-year financial report will be presented on the revised basis when published on 10 November 2009.
Previously published information on the revised basis is available on www.vodafone.com/investor.
For further information:
Vodafone Group
Investor Relations
Tel: +44 (0)1635 676904
This information is provided by RNS
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