Interim Results - Part 3
Vodafone Group Plc
14 November 2006
VODAFONE GROUP PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2006
PART III
KEY PERFORMANCE INDICATORS
MOBILE TELECOMMUNICATIONS BUSINESSES
PROPORTIONATE CUSTOMERS - 1 APRIL 2006 TO 30 SEPTEMBER 2006
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QUARTER TO 30 JUNE 2006 (RESTATED) QUARTER TO 30 SEPTEMBER 2006
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COUNTRY PERCENTAGE AT 1 NET OTHER AT 30 NET OTHER AT 30
OWNERSHIP APR ADDITIONS MOVEMENTS JUN ADDITIONS MOVEMENTS SEP PREPAID
(1) 2006 (2) 2006 (3) 2006 (4)
(%) ('000s) ('000s) ('000s) ('000s) ('000s) ('000s) ('000s) (%)
Europe:
Germany 100.0% 29,191 253 - 29,444 178 - 29,622 53.2%
Italy 76.9% 18,490 69 - 18,559 778 - 19,337 92.2%
Spain 100.0% 13,521 428 - 13,949 659 (584) 14,024 46.3%
UK 100.0% 16,304 (119) - 16,185 102 - 16,287 60.1%
Albania 99.9% 772 19 - 791 77 - 868 96.9%
Greece 99.9% 4,471 162 3 4,636 119 - 4,755 67.6%
Ireland 100.0% 2,075 15 - 2,090 29 - 2,119 73.7%
Malta 100.0% 175 2 - 177 7 - 184 89.9%
Netherlands 99.9% 3,909 (28) - 3,881 13 - 3,894 50.3%
Portugal 100.0% 4,276 90 - 4,366 216 (145) 4,437 79.5%
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Total Europe 93,184 891 3 94,078 2,178 (729) 95,527 65.6%
EMAPA:
Subsidiaries:
Australia 100.0% 3,177 (37) - 3,140 50 - 3,190 73.2%
Czech 100.0% 2,214 49 - 2,263 48 - 2,311 46.9%
Republic
Egypt 50.1% 3,314 237 - 3,551 423 - 3,974 91.7%
Hungary 100.0% 2,063 (39) - 2,024 26 - 2,050 65.1%
New Zealand 100.0% 2,068 32 - 2,100 11 - 2,111 76.3%
Romania 100.0% 6,384 351 - 6,735 420 - 7,155 66.4%
Turkey 100.0% - 381 10,930 11,311 870 - 12,181 90.3%
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19,220 974 10,930 31,124 1,848 - 32,972 79.6%
Joint Ventures:
Fiji 49.0% 101 7 - 108 14 - 122 94.8%
India 10.0% 1,958 366 - 2,324 382 - 2,706 85.5%
Kenya 35.0% 1,380 118 - 1,498 127 - 1,625 98.2%
Poland 19.6% 1,918 125 - 2,043 139 - 2,182 58.4%
South Africa(5) 50.0% 10,968 1,011 (225) 11,754 1,117 (966) 11,905 89.0%
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16,325 1,627 (225) 17,727 1,779 (966) 18,540 83.3%
Affiliates:
United States(6) 44.4% 23,530 807 4 24,341 850 - 25,191 5.3%
Other(7) 18,312 489 - 18,801 537 - 19,338 74.8%
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Total 41,842 1,296 4 43,142 1,387 - 44,529 64.2%
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Total EMAPA 77,387 3,897 10,709 91,993 5,014 (966) 96,041 68.1%
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Total 170,571 4,788 10,712 186,071 7,192 (1,695) 191,568 67.7%
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Notes:
(1) All ownership percentages are stated as at 30 September 2006 and
exclude options, warrants or other rights or obligations of the Group to
increase or decrease ownership in any venture with the exception of India,
where the Group's 10% economic interest represents a 5.6% direct interest
in Bharti Airtel Limited and a subscription for convertible debentures in
Bharti Enterprises Private Limited, representing a 4.4% indirect economic
interest in Bharti Airtel Limited. Ownership interests have been rounded
to the nearest tenth of one percent.
(2) Other movements for the quarter ended 30 June 2006 represent the
acquisition of minority interests in Vodafone Greece, Vodafone Albania, the
acquisition of substantially all the assets and business of Telsim Mobil
Telekomunikasyon Hizmetleri in Turkey, the indirect acquisition of a 0.1%
interest in Vodacom Group (Pty) Limited in South Africa and the change in
the application of disconnection policies in South Africa. Following a
review of the acquired operations in Turkey, the number of customers at the
date of acquisition has been decreased by 0.7 million and customer numbers
for the quarter ended 30 June 2006 have been restated accordingly.
(3) Other movements for the quarter ended 30 September 2006 represents the
change in application of disconnection policies in Spain, Portugal and South
Africa.
(4) Prepaid customer percentages are calculated on a venture basis. At 30
September 2006, there were 577.4 million venture customers.
(5) Customers in South Africa refers to the Group's interests in Vodacom
Group (Pty) Limited and includes customers in South Africa, the Democratic
Republic of Congo, Lesotho, Mozambique and Tanzania.
(6) The Group's ownership interest in Verizon Wireless is 45.0%. However,
the Group's proportionate customer base has been adjusted for Verizon
Wireless's proportionate ownership of its customer base across all its
network interests of approximately 98.6% at 30 September 2006. In the
absence of acquired interests, this proportionate ownership will vary
slightly from quarter to quarter depending on the underlying mix of net
additions across each of these networks.
(7) On 25 August 2006 the Group announced its intention to sell its
interests in Belgium with the effect that at 30 September 2006 it was
classified as an asset held for resale with customer numbers frozen at
that date. The sale was completed on 3 November 2006.
VODAFONE LIVE! ACTIVE DEVICES
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QUARTER TO 30 JUNE 2006 QUARTER TO 30 SEPTEMBER 2006
----------------------------------- ----------------------------
COUNTRY AT 1 NET AT 30 NET AT 30
APR 2006 ADDITIONS JUN 2006 ADDITIONS SEP 2006
('000s) ('000s) ('000s) ('000s) ('000s)
Europe:
Germany 6,214 (20) 6,194 47 6,241
Italy(1) 4,097 246 4,343 385 4,728
Spain 5,514 537 6,051 541 6,592
UK 4,181 195 4,376 96 4,472
Other 4,229 404 4,633 254 4,887
----------------------------------- ----------------------------
Total Europe 24,235 1,362 25,597 1,323 26,920
Total EMAPA 2,835 761 3,596 176 3,772
----------------------------------- ----------------------------
Group Statutory Total(2) 27,070 2,123 29,193 1,499 30,692
------------------------------------------------------------------------------------------
Notes:
(1) Under IFRS, Vodafone Italy is treated as a joint venture. The figures in
the table above represent the Group's share of Vodafone live! active
devices.
(2) The table above only includes Vodafone live! customers in the Group's
subsidiary and joint venture undertakings. At 30 September 2006 there were
an additional 6.8 million (30 June 2006: 6.5 million, 31 March 2006:
5.9 million) registered Vodafone live! venture customers in the Group's
associated undertakings.
3G DEVICES
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QUARTER TO 30 JUNE 2006 QUARTER TO 30 SEPTEMBER 2006
----------------------------------- ----------------------------
COUNTRY AT 1 NET AT 30 NET AT 30
APR 2006 ADDITIONS JUN 2006 ADDITIONS SEP 2006
('000s) ('000s) ('000s) ('000s) ('000s)
Europe:
Germany 2,025 312 2,337 387 2,724
Italy(1) 2,250 207 2,457 373 2,830
Spain 902 320 1,222 517 1,739
UK 1,033 195 1,228 120 1,348
Other 1,230 176 1,406 320 1,726
----------------------------------- ----------------------------
Total Europe 7,440 1,210 8,650 1,717 10,367
Total EMAPA 281 120 401 135 536
----------------------------------- ----------------------------
Group Statutory Total(2) 7,721 1,330 9,051 1,852 10,903
----------------------------------- ----------------------------
Consumer devices 7,061 1,178 8,239 1,658 9,897
Business devices 660 152 812 194 1,006
----------------------------------- ----------------------------
7,721 1,330 9,051 1,852 10,903
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Notes:
(1) Under IFRS, Vodafone Italy is treated as a joint venture. The figures in
the table above represent the Group's share of 3G devices.
(2) The table above only includes 3G devices in the Group's subsidiary and
joint venture undertakings. At 30 September 2006 there were an additional
2.3 million (30 June 2006: 2.0 million, 31 March 2006: 1.7 million)
Vodafone live! with 3G and Vodafone Mobile Connect 3G/GPRS data card
devices in the Group's associated undertakings.
AVERAGE MONTHLY REVENUE PER USER IN THE QUARTER
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COUNTRY 30 JUNE 30 SEP 31 DEC 31 MARCH 30 JUNE 30 SEP
2005 2005 2005 2006 2006 2006
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Europe:
-----------------------------------------------------------------------------------
Germany Total 24.3 24.4 22.9 21.5 22.1 22.4
(EUR) Contract 39.8 41.0 38.8 37.2 38.4 39.0
Prepaid 9.2 9.0 8.3 7.5 7.6 7.6
-----------------------------------------------------------------------------------
Italy Total 30.4 29.9 27.7 26.4 27.6 27.1
(EUR) Contract 79.4 75.0 73.7 71.0 72.6 68.0
Prepaid 25.8 25.9 23.5 22.2 23.3 23.2
-----------------------------------------------------------------------------------
Spain Total 36.2 37.7 35.3 33.3 35.3 36.4
(EUR) Contract 58.5 60.7 56.3 52.8 54.8 55.2
Prepaid 15.4 16.2 15.0 13.9 15.0 15.4
-----------------------------------------------------------------------------------
UK Total 24.6 25.1 23.8 22.7 23.7 24.5
(GBP) Contract 46.5 47.9 44.8 43.9 45.2 46.5
Prepaid 9.5 9.9 9.5 8.8 8.9 9.4
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Albania Total 2,255 2,534 2,259 2,098 2,122 2,311
(ALL) Contract 18,783 19,815 18,499 16,777 17,240 17,941
Prepaid 1,680 1,936 1,701 1,593 1,606 1,782
-----------------------------------------------------------------------------------
Greece Total 32.2 34.2 31.3 29.8 31.1 31.0
(EUR) Contract 65.1 69.7 64.2 61.5 65.6 66.8
Prepaid 15.1 15.7 14.1 13.4 13.7 13.4
-----------------------------------------------------------------------------------
Ireland Total 51.4 53.1 50.2 48.6 48.8 46.9
(EUR) Contract 101.9 107.8 99.9 99.3 102.8 99.4
Prepaid 32.1 32.6 31.6 30.0 29.3 28.0
-----------------------------------------------------------------------------------
Malta Total 14.0 16.2 13.0 12.1 14.7 16.6
(MTL) Contract 74.6 91.4 61.8 54.4 72.3 87.1
Prepaid 7.4 7.8 7.3 6.9 7.4 7.9
-----------------------------------------------------------------------------------
Netherlands Total 37.1 36.6 34.5 33.6 35.7 36.9
(EUR) Contract 69.5 68.6 64.7 61.3 63.5 64.6
Prepaid 11.3 11.0 9.8 9.2 10.1 10.4
-----------------------------------------------------------------------------------
Portugal Total 26.4 27.1 24.0 23.3 23.5 24.4
(EUR) Contract 67.3 69.8 61.9 62.4 62.2 62.8
Prepaid 14.3 14.7 13.4 12.9 13.0 13.9
-----------------------------------------------------------------------------------
EMAPA Subsidiaries:
-----------------------------------------------------------------------------------
Australia Total 47.8 48.2 51.4 47.9 49.4 52.4
(AUD) Contract 92.8 93.6 94.3 92.0 92.7 96.4
Prepaid 26.7 31.1 35.0 32.0 33.9 36.2
-----------------------------------------------------------------------------------
Czech Republic Total 680 679 679 644 674 670
(CZK) Contract 1,029 1,017 1,015 951 978 966
Prepaid 340 342 337 311 331 334
-----------------------------------------------------------------------------------
Egypt Total 91.4 89.4 74.1 79.0 79.4 88.1
(EGP) Contract 268.6 283.9 274.1 289.3 292.1 309.7
Prepaid 60.7 62.4 52.0 56.0 57.1 66.7
-----------------------------------------------------------------------------------
Hungary Total 5,321 5,153 4,885 4,647 5,066 5,339
(HUF) Contract 11,302 11,264 9,666 8,809 9,129 9,097
Prepaid 3,391 3,046 3,043 2,887 3,125 3,359
-----------------------------------------------------------------------------------
New Zealand Total 50.7 51.0 51.2 51.2 46.6 46.6
(NZD) Contract 138.9 139.7 137.2 138.5 126.1 125.3
Prepaid 25.9 25.6 25.9 25.7 23.2 22.5
-----------------------------------------------------------------------------------
Turkey(1) Total N/A N/A N/A N/A N/A 16.5
(TRY) Contract N/A N/A N/A N/A N/A 31.4
Prepaid N/A N/A N/A N/A N/A 14.8
-----------------------------------------------------------------------------------
Romania Total 14.9 15.9 15.4 13.9 15.2 15.9
(USD) Contract 30.2 31.1 29.5 27.0 29.5 30.8
Prepaid 6.3 7.1 7.0 6.0 6.7 7.3
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Note:
(1) On 24 May 2006 the Group acquired substantially all the assets and
business of Telsim Mobil Telekomunikasyon Hizmetleri in Turkey. As a
result, average monthly revenue per user in the quarter has only been
published with effect from the quarter ended 30 September 2006.
NON-VOICE SERVICES AS A PERCENTAGE OF SERVICE REVENUE
QUARTER TO 30 SEPTEMBER 2006
--------------------------------------------------
COUNTRY MESSAGING DATA TOTAL
Germany 14.2% 7.4% 21.6%
Italy(1) 13.6% 3.9% 17.5%
Spain 9.6% 5.1% 14.7%
UK 15.7% 6.0% 21.7%
Group Statutory Total(2) 13.3% 4.5% 17.8%
--------------------------------------------------
HISTORIC NON-VOICE SERVICES INFORMATION
NON-VOICE SERVICES AS A
PERCENTAGE OF SERVICE REVENUE IN THE QUARTER TO
-------------------------------------------------------------
COUNTRY 30 JUNE 30 SEP 31 DEC 31 MARCH 30 JUNE 30 SEP
2005 2005 2005 2006 2006 2006
Germany 19.3% 19.5% 20.4% 21.7% 21.2% 21.6%
Italy(1) 14.9% 16.8% 17.4% 18.0% 17.3% 17.5%
Spain 13.7% 14.2% 14.8% 15.1% 15.7% 14.7%
UK 19.3% 19.7% 20.7% 21.3% 20.9% 21.7%
Group Statutory Total(2) 16.2% 16.6% 17.2% 17.8% 17.4% 17.8%
-------------------------------------------------------------
Notes:
(1) Under IFRS, Vodafone Italy is treated as a joint venture.
(2) Service revenue from the mobile telecommunications businesses excludes
fixed line and DSL revenues.
CUSTOMER CHURN
ANNUALISED CHURN INFORMATION IN THE QUARTER TO
------------------------------------------------------------
COUNTRY 30 JUNE 30 SEP 31 DEC 31 MARCH 30 JUNE 30 SEP
2005 2005 2005 2006 2006 2006
Germany Total 17.3% 19.7% 21.2% 22.6% 20.7% 22.1%
Contract 13.1% 14.3% 16.8% 16.7% 14.6% 13.5%
Prepaid 21.1% 24.6% 25.2% 27.7% 26.0% 29.5%
Italy Total 17.3% 18.7% 19.1% 19.5% 20.8% 21.7%
Contract 14.9% 14.5% 16.6% 14.5% 17.2% 13.6%
Prepaid 17.5% 19.1% 19.3% 19.9% 21.1% 22.4%
Spain(1) Total 21.7% 20.7% 20.6% 20.6% 20.5% 37.0%
Contract 13.6% 12.5% 13.9% 14.1% 12.3% 13.4%
Prepaid 29.0% 28.1% 26.9% 26.9% 28.9% 62.5%
UK Total 32.4% 33.1% 31.9% 31.2% 32.8% 37.6%
Contract 23.2% 21.6% 20.2% 21.2% 20.1% 18.8%
Prepaid 38.3% 40.5% 39.5% 37.5% 40.9% 49.9%
------------------------------------------------------------
Note:
(1) The customer churn for Spain for the quarter ended 30 September 2006
includes the effect of 583,724 disconnections following a change in
application of disconnection policies. The underlying customer churn,
excluding these disconnections, was 20.1%.
ACTIVE CUSTOMERS
ACTIVE CUSTOMERS(1) AT
-------------------------------------------------------------
COUNTRY 30 JUNE 30 SEP 31 DEC 31 MARCH 30 JUNE 30 SEP
2005 2005 2005 2006 2006 2006
Germany 93.0% 92.8% 91.5% 90.6% 90.6% 90.6%
Italy(2) 92.2% 92.8% 92.1% 91.2% 90.9% 90.4%
Spain 94.8% 95.0% 95.7% 94.3% 93.8% 98.5%
UK 88.8% 90.6% 90.8% 88.4% 85.7% 86.9%
Group Statutory Total(1) 91.3% 92.2% 92.1% 91.6% 91.0% 91.6%
-------------------------------------------------------------
Notes:
(1) An active customer is defined as one who either pays a monthly fee or has
made or received a chargeable event in the last 3 months. The Group's
subsidiary in Turkey and the Group's joint ventures in India and Kenya are
currently unable to measure active customers under this basis and so have
been excluded from the calculation of the Group Statutory Total activity
percentages in the table above.
(2) Under IFRS, Vodafone Italy is treated as a joint venture.
VOICE USAGE VOLUMES
TOTAL VOICE MINUTES(1) (MILLIONS) IN THE QUARTER TO
-------------------------------------------------------------
COUNTRY 30 JUNE 30 SEP 31 DEC 31 MARCH 30 JUNE 30 SEP
2005 2005 2005 2006 2006 2006
Europe:
Germany 6,356 6,428 7,010 6,993 7,614 7,979
Italy(2) 7,173 7,164 7,521 7,746 7,687 8,050
Spain 5,648 5,859 5,966 6,362 6,978 7,533
UK 6,810 6,937 7,167 7,145 7,207 7,579
Albania 129 144 141 135 148 166
Greece 1,757 1,896 1,870 1,869 2,075 2,216
Ireland 1,263 1,279 1,302 1,289 1,380 1,422
Malta 42 47 43 43 49 55
Netherlands 1,697 1,601 1,755 1,733 1,820 1,711
Portugal 1,319 1,384 1,386 1,402 1,472 1,606
Sweden 688 681 753 - - -
-------------------------------------------------------------
Total Europe 32,882 33,420 34,914 34,717 36,430 38,317
EMAPA:
Subsidiaries
Australia 1,619 1,818 1,957 2,001 2,006 2,141
Czech Republic(3) 289 840 899 925 901 868
Egypt 1,979 2,341 2,278 2,442 2,869 3,462
Hungary 741 792 842 866 948 980
New Zealand 540 559 616 602 597 597
Romania(3) 525 1,754 1,931 1,914 1,873 2,059
Turkey(4) - - - - - 6,451
-------------------------------------------------------------
5,693 8,104 8,523 8,750 9,194 16,558
Joint Ventures 2,021 1,957 2,598 4,684 5,763 6,387
-------------------------------------------------------------
TOTAL EMAPA 7,714 10,061 11,121 13,434 14,957 22,945
-------------------------------------------------------------
Group Statutory Total 40,596 43,481 46,035 48,151 51,387 61,262
-------------------------------------------------------------
Notes:
(1) The total voice minute information presented in the table above
represents the volume of minutes handled by each local network and includes
incoming, outgoing and visitor calls. The voice minute information in
respect of the Czech Republic, Germany, New Zealand and Romania reflects
minutes billed which are rounded-up under certain tariffs.
(2) Under IFRS, Vodafone Italy is treated as a joint venture. The figures in
the table above represent the Group's share of the voice minute information.
(3) MobiFon S.A. in Romania and Oskar Mobil a.s. in the Czech Republic became
subsidiaries on 31 May 2005. Voice minutes in the quarter to 30 June 2005
only include volumes during the month of June 2005. Prior to 31 May 2005,
MobiFon S.A. was treated as a joint venture and was previously included
within Other Joint Ventures.
(4) On 24 May 2006 the Group acquired substantially all the assets and
business of Telsim Mobil Telekomunikasyon Hizmetleri in Turkey. As a result,
voice minutes in the quarter have only been published with effect from the
quarter ended 30 September 2006.
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