Interim Results - Part 4
Vodafone Group Plc
15 November 2005
VODAFONE GROUP PLC
INTERIM RESULTS FOR THE SIX MONTHS ENDED
30 SEPTEMBER 2005
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PART IV
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KEY PERFORMANCE INDICATORS
MOBILE TELECOMMUNICATIONS BUSINESSES
PROPORTIONATE CUSTOMERS - 1 APRIL 2005 TO 30 SEPTEMBER 2005
-------------------------------------------------------------------------------------------------
QUARTER TO 30 JUNE 2005 QUARTER TO 30 SEPTEMBER 2005
-------------------------------------- ------------------------------------
COUNTRY PERCENTAGE AT 1 APR NET OTHER AT 30 NET OTHER AT 30 PREPAID
OWNERSHIP 2005 ADDITIONS MOVEMENTS JUN 2005 ADDITIONS MOVEMENTS SEP 2005
(1) (2) (3)
(%) ('000s) ('000s) ('000s) ('000s) ('000s) ('000s) ('000s) (%)
Principal Markets
Germany 100.0% 27,223 497 - 27,720 539 - 28,259 52.3%
Italy 76.9% 17,280 204 15 17,499 385 - 17,884 92.3%
Japan 97.7% 14,692 (72) - 14,620 24 - 14,644 10.9%
Spain 100.0% 11,472 368 - 11,840 578 - 12,418 52.0%
UK 100.0% 15,324 165 - 15,489 275 - 15,764 60.6%
---------------------------------------------------------------------
85,991 1,162 15 87,168 1,801 - 88,969
Other Subsidiaries
Albania 99.9% 648 22 - 670 43 - 713 96.7%
Australia 100.0% 2,731 160 - 2,891 125 - 3,016 71.9%
Czech
Republic 99.9% - 19 1,930 1,949 86 1 2,036 50.0%
Egypt 50.1% 2,072 183 - 2,255 712 - 2,967 89.5%
Greece 99.8% 3,996 164 - 4,160 131 - 4,291 66.0%
Hungary 100.0% 1,735 62 - 1,797 116 - 1,913 73.3%
Ireland 100.0% 1,952 29 - 1,981 32 - 2,013 73.0%
Malta 100.0% 167 3 - 170 6 - 176 90.4%
Netherlands 99.9% 3,789 71 - 3,860 116 - 3,976 56.0%
New Zealand 100.0% 1,891 38 - 1,929 27 - 1,956 77.8%
Portugal 100.0% 3,586 77 - 3,663 253 - 3,916 79.1%
Romania 100.0% - 105 5,098 5,203 278 48 5,529 64.5%
Sweden 100.0% 1,541 (17) - 1,524 21 - 1,545 35.3%
---------------------------------------------------------------------
24,108 916 7,028 32,052 1,946 49 34,047
Other Joint Ventures
Fiji 49.0% 76 4 - 80 7 - 87 93.7%
Kenya 35.0% 879 97 - 976 95 - 1,071 98.2%
Poland 19.6% 1,443 102 - 1,545 96 - 1,641 53.7%
Romania - 1,010 - (1,010) - - - - -
South
Africa 35.0% 5,087 574 - 5,661 613 - 6,274 88.7%
---------------------------------------------------------------------
8,495 777 (1,010) 8,262 811 - 9,073
Associates &
Investments
United
States(4) 44.4% 20,173 850 2 21,025 853 5 21,883 5.3%
Other 16,071 433 - 16,504 491 23 17,018 71.3%
---------------------------------------------------------------------
36,244 1,283 2 37,529 1,344 28 38,901
TOTAL 154,838 4,138 6,035 165,011 5,902 77 170,990 62.0%
-------------------------------------------------------------------------------------------------
(1) All ownership percentages are stated as at 30 September 2005 and exclude
options, warrants or other rights or obligations of the Group to increase or
decrease ownership in any venture. Ownership interests have been rounded
to the nearest tenth of one percent.
(2) Other movements for the quarter to 30 September 2005 represents a stake
increase of 0.90% in MobiFon S.A. in Romania, a stake increase of 0.03%
in Oskar Mobil a.s. in the Czech Republic, a stake increase of 0.14% in
SFR in France and the acquisition of customer bases by Verizon Wireless.
(3) Prepaid customer percentages are calculated on a venture basis. At 30
September 2005, there were 471.5 million total venture customers.
(4) 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 98.7% at 30 September 2005. 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.
VODAFONE LIVE! ACTIVE DEVICES
--------------------------------- -----------------------
QUARTER TO 30 QUARTER TO 30
JUNE 2005 SEPTEMBER 2005
--------------------------------- -----------------------
COUNTRY AT 1 APRIL NET AT 30 JUNE NET AT 30 SEP
2005 ADDITIONS 2005 ADDITIONS 2005
('000s) ('000s) ('000s) ('000s) ('000s)
--------------------------------- -----------------------
Principal Markets
Germany 4,845 344 5,189 319 5,508
Italy(1) 2,113 432 2,545 285 2,830
Japan 12,845 (67) 12,778 (3) 12,775
Spain 2,992 519 3,511 621 4,132
UK 3,443 295 3,738 225 3,963
--------------------------------- -----------------------
26,238 1,523 27,761 1,447 29,208
Other Subsidiaries &
Joint Ventures 3,988 638 4,626 1,151 5,777
--------------------------------- -----------------------
Group Statutory Total 30,226 2,161 32,387 2,598 34,985
--------------------------------- -----------------------
The table above only includes Vodafone live! customers in the Group's subsidiary
and joint venture undertakings. There were an additional 4.7 million registered
Vodafone live! venture customers in our associated undertakings at 30 September
2005 (30 June 2005: 3.8 million, 31 March 2005: 3.2 million).
(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.
3G DEVICES
--------------------------------- -----------------------
QUARTER TO 30 QUARTER TO 30
JUNE 2005 SEPTEMBER 2005
--------------------------------- -----------------------
COUNTRY AT 1 APRIL NET AT 30 JUNE NET AT 30 SEP
2005 ADDITIONS 2005 ADDITIONS 2005
('000s) ('000s) ('000s) ('000s) ('000s)
--------------------------------- -----------------------
Principal Markets
Germany 358 170 528 287 815
Italy(1) 511 209 720 324 1,044
Japan(2) 798 371 1,169 445 1,614
Spain 88 72 160 155 315
UK 190 92 282 156 438
--------------------------------- -----------------------
1,945 914 2,859 1,367 4,226
Other Subsidiaries &
Joint Ventures 253 146 399 313 712
--------------------------------- -----------------------
Group Statutory Total 2,198 1,060 3,258 1,680 4,938
--------------------------------- -----------------------
Consumer devices 1,954 972 2,926 1,580 4,506
Business devices 244 88 332 100 432
--------------------------------- -----------------------
2,198 1,060 3,258 1,680 4,938
--------------------------------- -----------------------
The table above only includes 3G devices in the Group's subsidiary and joint
venture undertakings. There were an additional 0.4 million Vodafone Mobile
Connect 3G/GPRS data card and Vodafone live! with 3G devices in our Associated
undertakings at 30 September 2005 (30 June 2005: 0.2 million, 31 March 2005: 0.1
million).
(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 number of 3G devices in Japan reported in the table above
excludes 140,000 devices (30 June 2005: 130,000, 31 March 2005: 119,000)
which use the 3G network but are not capable of accessing 3G data services.
AVERAGE MONTHLY REVENUE PER USER IN THE QUARTER(1)
--------------------------------------------------------------------------------
COUNTRY 30 30 31 31 30 30
JUNE SEPTEMBER DECEMBER MARCH JUNE SEPTEMBER
2004 2004 2004 2005 2005 2005
--------------------------------------------------------------------------------
Germany Total 25.5 26.0 24.9 23.4 24.3 24.4
(EUR) Contract 40.4 41.5 39.9 37.7 39.8 41.0
Prepaid 10.3 10.3 9.6 9.2 9.2 9.0
--------------------------------------------------------------------------------
Italy Total 30.3 30.3 30.2 29.1 30.4 29.9
(EUR) Contract 79.6 74.4 78.4 74.8 79.4 75.0
Prepaid 25.6 26.0 25.5 24.6 25.8 25.9
--------------------------------------------------------------------------------
Japan Total 6,201 6,357 6,149 5,887 5,951 6,016
(JPY) Contract 6,553 6,733 6,533 6,260 6,329 6,391
Prepaid 2,512 2,718 2,574 2,393 2,410 2,448
--------------------------------------------------------------------------------
Spain Total 34.1 36.7 34.2 33.3 36.2 37.7
(EUR) Contract 58.3 61.1 56.6 54.2 58.5 60.7
Prepaid 14.7 16.4 14.7 14.6 15.4 16.2
--------------------------------------------------------------------------------
UK Total 26.6 26.6 24.9 24.1 24.6 25.1
(GBP) Contract 49.6 48.7 45.7 45.6 46.5 47.9
Prepaid 10.4 11.1 10.3 9.4 9.5 9.9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Albania Total 2,336 2,587 2,417 2,184 2,255 2,534
(ALL) Contract 24,469 25,580 24,629 22,234 23,592 25,201
Prepaid 1,636 1,851 1,690 1,522 1,518 1,753
--------------------------------------------------------------------------------
Australia Total 51.0 52.1 47.3 51.4 47.8 48.2
(AUD) Contract 76.7 77.1 82.8 102.2 92.8 93.6
Prepaid 29.1 32.7 22.4 25.4 26.7 31.1
--------------------------------------------------------------------------------
Czech
Republic(2) Total 643 657 680 641 680 679
(CZK) Contract 1,062 1,063 1,066 986 1,029 1,017
Prepaid 305 320 340 317 340 342
--------------------------------------------------------------------------------
Egypt Total 99.7 111.5 102.8 94.1 91.4 89.4
(EGP) Contract 253.8 264.6 255.9 258.0 268.6 283.9
Prepaid 63.1 74.4 67.9 61.8 60.7 62.4
--------------------------------------------------------------------------------
Greece Total 33.0 36.7 32.3 30.4 32.2 34.2
(EUR) Contract 64.7 71.4 63.8 61.8 65.1 69.7
Prepaid 17.7 19.4 16.2 14.4 15.1 15.7
--------------------------------------------------------------------------------
Hungary Total 5,255 5,396 5,182 4,945 5,321 5,153
(HUF) Contract 12,667 12,961 11,774 10,800 11,302 11,264
Prepaid 3,480 3,422 3,313 3,169 3,391 3,046
--------------------------------------------------------------------------------
Ireland Total 51.1 51.7 50.7 49.1 51.4 53.1
(EUR) Contract 101.7 102.8 98.7 96.3 101.9 107.8
Prepaid 31.0 31.6 31.7 30.8 32.1 32.6
--------------------------------------------------------------------------------
Malta Total 14.7 16.9 12.9 11.6 14.0 16.2
(MTL) Contract 81.1 98.0 65.4 55.7 74.6 91.4
Prepaid 8.2 8.7 7.4 6.8 7.4 7.8
--------------------------------------------------------------------------------
Netherlands Total 38.7 39.3 37.5 35.3 37.1 36.6
(EUR) Contract 72.3 73.5 70.5 67.0 69.5 68.6
Prepaid 13.1 13.3 11.9 10.5 11.3 11.0
--------------------------------------------------------------------------------
New Zealand Total 53.4 52.5 53.0 52.3 50.7 51.0
(NZD) Contract 150.0 147.3 146.5 143.4 138.9 139.7
Prepaid 27.9 27.2 27.9 27.8 25.9 25.6
--------------------------------------------------------------------------------
Portugal Total 29.2 29.7 26.8 25.8 26.4 27.1
(EUR) Contract 59.3 59.8 54.5 54.4 67.3 69.8
Prepaid 16.4 17.2 15.7 15.5 14.3 14.7
--------------------------------------------------------------------------------
Romania(2) Total 14.0 14.4 14.1 13.2 14.9 15.9
(USD) Contract 29.4 31.2 30.4 27.7 30.2 31.1
Prepaid 4.9 5.3 5.5 5.2 6.3 7.1
--------------------------------------------------------------------------------
Sweden Total 338.6 335.3 315.6 285.0 317.9 313.8
(SEK) Contract 477.7 484.5 461.2 432.6 458.6 439.5
Prepaid 68.8 75.0 60.8 29.9 61.7 69.3
--------------------------------------------------------------------------------
(1) The Group previously reported rolling 12 month ARPU information. In
order to assist in the understanding of the Group's results, information
will now be presented on a rolling 3 month basis. Comparative information
has been restated to reflect the new basis of disclosure. There has been
no change in the underlying calculation of ARPU.
(2) MobiFon S.A. in Romania and Oskar Mobil a.s. in the Czech Republic
became subsidiaries on 31 May 2005. However, historic average monthly
revenue per user information has been presented in the table above for
all comparative periods in order to assist in the understanding of
historic results.
NON-VOICE SERVICES AS A PERCENTAGE OF SERVICE REVENUE(1)
QUARTER TO 30 SEPTEMBER 2005
---------------------------------------------------------
COUNTRY MESSAGING DATA TOTAL
---------------------------------------------------------
Principal Markets
Germany 15.2% 4.3% 19.5%
Italy(2) 14.5% 2.3% 16.8%
Japan(3) 7.2% 23.3% 30.5%
Spain 11.6% 2.6% 14.2%
UK 14.9% 4.8% 19.7%
Group Statutory Total 12.5% 6.4% 18.9%
---------------------------------------------------------
HISTORIC NON-VOICE SERVICES INFORMATION(1)
NON-VOICE SERVICES AS A PERCENTAGE OF SERVICE
REVENUE IN THE QUARTER TO
-------------------------------------------------------------
COUNTRY 30 30 31 31 30 30
JUNE SEPTEMBER DECEMBER MARCH JUNE SEPTEMBER
2004 2004 2004 2005 2005 2005
-------------------------------------------------------------
Principal Markets
Germany(4) 17.3% 17.0% 18.3% 19.8% 19.3% 19.5%
Italy(2) 13.5% 14.8% 14.7% 15.6% 14.9% 16.8%
Japan(3)(4) 29.7% 28.7% 28.6% 29.1% 29.8% 30.5%
Spain 12.2% 13.0% 14.2% 15.0% 13.7% 14.2%
UK 17.4% 18.0% 18.8% 19.3% 19.3% 19.7%
Group Statutory
Total(4) 17.7% 17.8% 18.1% 19.0% 18.5% 18.9%
-------------------------------------------------------------
(1) The Group previously reported rolling 12 month non-voice services as
a percentage of service revenue information. In order to assist in the
understanding of the Group's results, information will now be presented
on a rolling 3 month basis. Comparative information has been restated to
reflect the new basis of disclosure. There has been no change in the
underlying calculation of non-voice services.
(2) Under IFRS, Vodafone Italy is treated as a joint venture.
(3) In Japan, messaging and other data services transmitted via the 3G
network are packet-based. It is not possible to allocate revenue arising
from these services between Messaging and Data services and so all
revenue is included within Data revenue.
(4) Following a review of certain tariffs in Germany and Japan, the
Group has reclassified an element of monthly fees received from contract
customers from voice revenue to non-voice revenue to provide a more precise
reflection of customer usage.
In Germany, during the six month period to 30 September 2005, the impact
of the change is to reduce voice revenue by £26m and increase messaging
revenue by the same amount. There is no impact on service revenue or total
revenue. The change increases non-voice services as a percentage of
service revenue in the quarter to 30 June 2005 from 18.4% to 19.3%.
In Japan, during the year to 31 March 2005, the impact of the change is to
reduce voice revenue by £422m and increase messaging revenue by £131m and
non-messaging data revenue by £291m. For the six month period to 30
September 2005, the impact of the change is to reduce voice revenue by
£200m and increase messaging revenue by £47m and non-messaging data
revenue by £153m. There is no impact on service revenue or total revenue.
The change increases non-voice services as a percentage of service revenue
in the quarters to 30 June 2004, 30 September 2004, 31 December 2004,
31 March 2005 and 30 June 2005 from 21.3%, 21.2%, 21.0%, 22.4% and
22.4% to 29.7%, 28.7%, 28.6%, 29.1% and 29.8%.
The impact on the Group Statutory Total arising from the changes outlined
above is to increase the non-voice services as a percentage of service
revenue in the quarters to 30 June 2004, 30 September 2004, 31 December
2004, 31 March 2005 and 30 June 2005 from 16.0%, 16.3%, 16.7%, 17.7% and
17.1% to 17.7%, 17.8%, 18.1%, 19.0% and 18.5%.
CUSTOMER CHURN(1)
ANNUALISED CHURN INFORMATION IN THE QUARTER TO
--------------------------------------------------------
COUNTRY 30 30 31 31 30 30
JUNE SEPTEMBER DECEMBER MARCH JUNE SEPTEMBER
2004 2004 2004 2005 2005 2005
--------------------------------------------------------
Principal Markets
Germany Total 16.9% 17.9% 18.8% 19.5% 17.3% 19.7%
Contract 14.4% 14.8% 16.1% 14.0% 13.1% 14.3%
Prepaid 19.2% 20.9% 21.3% 24.5% 21.1% 24.6%
--------------------------------------------------------
Italy(2) Total 15.2% 17.6% 18.6% 17.2% 17.3% 18.7%
Contract 19.9% 16.0% 16.3% 18.4% 14.9% 14.5%
Prepaid 14.8% 17.8% 18.8% 17.0% 17.5% 19.1%
--------------------------------------------------------
Japan Total 22.2% 24.0% 21.9% 22.8% 20.2% 19.1%
Contract 21.0% 22.9% 20.0% 20.8% 17.6% 16.2%
Prepaid 33.6% 34.4% 37.2% 39.1% 41.5% 42.7%
--------------------------------------------------------
Spain Total 24.1% 21.9% 20.7% 21.3% 21.7% 20.7%
Contract 15.9% 13.1% 14.2% 14.6% 13.6% 12.5%
Prepaid 30.5% 29.0% 26.2% 27.1% 29.0% 28.1%
--------------------------------------------------------
UK Total 29.7% 28.8% 29.6% 30.7% 32.4% 33.1%
Contract 22.2% 21.8% 21.6% 25.3% 23.2% 21.6%
Prepaid 34.7% 33.5% 34.8% 34.2% 38.3% 40.5%
--------------------------------------------------------
(1) The Group previously reported rolling 12 month churn. In order to
assist in the understanding of the Group's results, information will
now be presented on an annualised rolling 3 month basis. Comparative
information has been restated to reflect the new basis of disclosure.
There has been no change in the underlying calculation of customer churn.
(2) Under IFRS, Vodafone Italy is treated as a joint venture.
ACTIVE CUSTOMERS(1)
ACTIVE CUSTOMERS AT
---------------------------------------------------------
COUNTRY 30 30 31 31 30 30
JUNE SEPTEMBER DECEMBER MARCH JUNE SEPTEMBER
2004 2004 2004 2005 2005 2005
---------------------------------------------------------
Principal Markets
Germany 93.0% 92.2% 91.7% 91.1% 90.1% 90.1%
Italy(3) 92.3% 92.1% 91.8% 91.8% 91.7% 92.3%
Japan 97.3% 97.0% 96.7% 96.4% 96.6% 96.8%
Spain 96.7% 92.2% 92.3% 92.7% 92.9% 93.0%
UK 91.2% 90.7% 89.7% 88.8% 88.8% 90.6%
Group Statutory
Total(1)(2) 92.7% 92.2% 91.8% 91.6% 91.0% 91.8%
---------------------------------------------------------
(1) An active customer is defined as one who has made or received a
chargeable event in the last 3 months. The Group's joint venture in
Kenya and its subsidiary in the Czech Republic 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) Comparative Group Statutory Total figures have been restated to
reflect the change from UK GAAP to IFRS. The impact of the change has
been to decrease the Group Statutory Total active customer percentage at
30 June 2004, 30 September 2004, 31 December 2004 and 31 March 2005 by
0.6%, 0.5%, 0.5% and 0.5%, respectively.
(3) Under IFRS, Vodafone Italy is treated as a joint venture.
VOICE USAGE VOLUMES(1)
TOTAL VOICE MINUTES (MILLIONS) IN THE QUARTER TO
-------------------------------------------------------------
COUNTRY 30 30 31 31 30 30
JUNE SEPTEMBER DECEMBER MARCH JUNE SEPTEMBER
2004 2004 2004 2005 2005 2005
-------------------------------------------------------------
Principal Markets
Germany(1) 5,775 5,967 6,050 5,768 6,356 6,428
Italy(2) 6,679 6,914 7,250 7,327 7,173 7,164
Japan 6,172 6,161 5,980 5,656 5,692 5,833
Spain 3,963 4,375 4,482 4,973 5,648 5,859
UK 6,219 6,324 6,530 6,413 6,810 6,937
-------------------------------------------------------------
28,808 29,741 30,292 30,137 31,679 32,221
Other Subsidiaries
Albania 107 121 119 118 129 144
Australia 1,055 1,120 1,346 1,442 1,619 1,818
Czech Republic(3) N/a N/a N/a N/a 289 840
Egypt 1,470 1,693 1,616 1,734 1,979 2,341
Greece 1,417 1,535 1,517 1,538 1,757 1,896
Hungary 566 608 652 651 741 792
Ireland 1,143 1,187 1,195 1,176 1,263 1,279
Malta 40 43 39 37 42 47
Netherlands 1,513 1,437 1,567 1,556 1,697 1,601
New Zealand 469 497 538 539 540 559
Portugal 1,199 1,235 1,229 1,268 1,319 1,384
Romania(3) N/a N/a N/a N/a 525 1,754
Sweden 647 640 657 614 688 681
-------------------------------------------------------------
9,626 10,116 10,475 10,673 12,588 15,136
Other Joint
Ventures (3) 1,634 1,767 1,908 1,931 2,021 1,957
-------------------------------------------------------------
Group Statutory
Total(1) 40,068 41,624 42,675 42,741 46,288 49,314
-------------------------------------------------------------
(1) The total voice minute information 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.
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