Form 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rules 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Dated November 13, 2006
VODAFONE GROUP
PUBLIC LIMITED COMPANY
(Exact name of registrant as specified in its charter)
VODAFONE HOUSE, THE CONNECTION, NEWBURY, BERKSHIRE, RG14 2FN, ENGLAND (Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
|
Form 20-F |
ü |
|
Form 40-F |
|
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
|
Yes |
|
|
No |
ü |
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
This Report on Form 6-K contains a news release issued by Vodafone Group Plc on November 9, 2006, entitled “INFORMATION RELATING TO INTERIM RESULTS”.
9 November 2006
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
|
Revenue |
|
Segment |
|
|
Subsidiaries |
|
Joint |
|
Eliminations |
|
|
Common |
(1) |
Intra- |
|
Regional |
|
Inter- |
|
Net |
|
|
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, Africa and Asia |
|
755 |
|
|
|
|
|
|
|
|
|
|
|
– |
|
755 |
|
(5 |
) |
750 |
|
|
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 |
|
|
Adjusted operating profit |
|
Segment |
|
|
Subsidiaries |
|
Joint |
|
Associates |
|
|
Common |
(1) |
Operating |
|
Other |
(2) |
Adjusted |
|
|
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 Europe |
|
90 |
|
|
|
|
|
|
|
|
|
|
|
90 |
|
– |
|
90 |
|
|
Middle East, Africa and Asia |
|
236 |
|
|
|
|
|
|
|
|
|
|
|
236 |
|
– |
|
236 |
|
|
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
|
Revenue |
|
Segment revenue £m |
|
|
Subsidiaries £m |
|
Joint ventures £m |
|
Eliminations £m |
|
|
Common |
(1) |
Intra- region revenue £m |
|
Regional revenue |
|
Inter- region revenue £m |
|
Net revenue £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, Africa and Asia |
|
1,784 |
|
|
|
|
|
|
|
|
|
|
|
– |
|
1,784 |
|
(15 |
) |
1,769 |
|
|
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 |
|
|
Adjusted operating profit |
|
Segment |
|
|
Subsidiaries |
|
Joint |
|
Associates |
|
|
Common |
(1) |
Operating |
|
Other |
(2) |
Adjusted |
|
|
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, Africa and Asia |
|
523 |
|
|
|
|
|
|
|
|
|
|
|
523 |
|
– |
|
523 |
|
|
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
|
|
|
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 profit |
|
Capitalised fixed asset additions |
|
Free cash flow(1) |
|
||||||||||
|
|
|
Year ended 31 March 2006 |
|
Six months ended 30 September 2005 |
|
Year ended 31 March 2006 |
|
Six months ended 30 September 2005 |
|
Year ended 31 March 2006 |
|
Six months ended 30 September 2005 |
|
Year ended 31 March 2006 |
|
Six months ended 30 September 2005 |
|
Year ended 31 March 2006 |
|
Six months ended 30 September 2005 |
|
|
|
|
£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(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 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
|
|
|
VODAFONE GROUP |
|
|
|
PUBLIC LIMITED COMPANY |
|
|
|
(Registrant) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dated: November 13, 2006 |
|
By: /s/ S R SCOTT |
|
|
|
Name: Stephen R. Scott |
|
|
|
Title: Company Secretary |