Vodafone 1999 Annual Report Download - page 71

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P60 Proportionate Information
Proportionate Information
The following table is presented on a proportionate basis. Proportionate presentation is not required by UK GAAP and is
not intended to replace the consolidated financial statements prepared in accordance with UK GAAP. However, since
significant entities in which the Group has an interest are not consolidated, proportionate information is provided as
supplemental data to facilitate a more detailed understanding and assessment of the consolidated financial statements
prepared in accordance with UK GAAP.
UK GAAP requires consolidation of entities controlled by the Group and the equity method of accounting for entities in
which the Group has significant influence but not a controlling interest. Proportionate presentation is a pro rata
consolidation, which reflects the Group’s share of turnover and expenses in both its consolidated and unconsolidated
entities. Vodafone Group Plc’s principal subsidiary undertakings, associated undertakings and investments, together with
the Group’s ownership interest, are listed here. Proportionate results are calculated by multiplying the Group’s ownership
interest in each entity by each entity’s results.
Proportionate information includes results from the Group’s equity accounted investments and investments held at cost.
The Group does not have control over the turnover, expenses or cash flow of these investments and is only entitled to
cash from dividends received from these entities. The Group does not own the underlying assets of these investments.
(a) Proportionate financial information
Year ended
31 March 1999
Year ended
31 March 1998
£m £m
Proportionate turnover 3,837.3 2,874.2
––––––––– –––––––––
Proportionate EBITDA(1) 1,218.0 919.0
––––––––– –––––––––
(b) Proportionate customer information
At
31 March 1999
At
31 March 1998
Proportionate number of customers 10,445,000 5,844,000
––––––––– –––––––––
Note:
(1) Proportionate EBITDA (earnings before interest, tax, depreciation and amortisation) is defined as operating profit before
exceptional reorganisation costs plus depreciation and amortisation of subsidiary undertakings, associated undertakings and
investments, proportionate to equity stakes. Proportionate EBITDA represents the Group’s ownership interests in the respective
entities’ EBITDA. As such, proportionate EBITDA does not represent EBITDA available to the Group.
http://www.vodafone.com/download/investor/reports/annual99/Proportionate_Information.htm30/03/2007 00:12:31