Vodafone Annual Report 2012

In: Business and Management

Submitted By ironcentury
Words 87713
Pages 351
Vodafone Group Plc Annual Report for the year ended 31 March 2012

Creating a more valuable Vodafone

We are creating a more valuable Vodafone
Our strategy is focused on four areas of growth potential and founded on strong capital and cost discipline. This is delivering results: we have outperformed our key competitors in most major markets, and returned over £10 billion to shareholders in the last 12 months.

£46.4bn £11.5bn
Group revenue increased 1.2% to £46.4 billion with a strong demand for data services and further voice penetration in emerging markets.

Adjusted operating profit was £11.5 billion, slightly down on last year (up 2.5%* on an organic basis) supported by a good performance from our US associate, Verizon Wireless.


Free cash flow of £6.1 billion, decreased due to the sale of our interests in China and France and a lower working capital benefit.


Total ordinary dividends per share of 9.52 pence, up 7.0% in line with our dividend per share growth target. We also paid a special dividend of 4.0 pence per share and our £6.8 billion share buyback programme is almost complete.


Capital expenditure increased by 2.3%, as we continued to maintain our high level of investment to support our network strategy.


Adjusted earnings per share of 14.91 pence, down 11.0% on last year, resulting from the loss of income following the sale of several businesses and higher financing costs.

Vodafone Group Plc Annual Report 2012


Business review

In this year’s report

Business review#
02 Overview 02 Who we are 04 What we do and how we do it 06 Where we do it 08 Where we are heading 10 How we’re doing Chairman’s statement Chief Executive’s review Industry trends How we do business Strategy 22 26 28

40 50 51 54 Operating results Guidance Principal risk factors and uncertainties…...

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