Vodafone 2004 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2004 Vodafone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 142

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142

Vodafone Group Plc Annual Report 2004
76
Notes to the Consolidated Financial Statements continued
3. Segmental analysis
The Group’s business is principally the supply of mobile telecommunications services and products. Other operations primarily comprise fixed line
telecommunications businesses and the Vizzavi joint venture, until 29 August 2002.
Segmental information is provided on the basis of geographic regions, being the basis on which the Group manages its worldwide interests.
In June 2003, the Group announced changes in the regional structure of its operations. The former Northern Europe and Central Europe regions were combined
into a new Northern Europe region, with the exception of the United Kingdom and Ireland that now form their own region. The results below are presented in
accordance with the new regional structure.
Turnover is by origin, which is not materially different from turnover by destination.
Mobile telecommunications Other operations
Middle
UK & Northern Southern Asia East & Asia Total
Ireland Europe Europe Americas Pacific Africa Total Europe Pacific Group
£m £m £m £m £m £m £m £m £m £m
Year ended 31 March 2004
Group turnover 5,504 7,353 9,776 – 8,785 297 31,715 947 897 33,559
Operating profit/(loss) 842 (5,041) (1,185) (21) 515 85 (4,805) (49) 78 (4,776)
Share of operating profit/(loss) in associated undertakings 4 86 9 297 1 158 555 (10) 1 546
Total Group operating loss 846 (4,955) (1,176) 276 516 243 (4,250) (59) 79 (4,230)
Exceptional non-operating items – (60) (2) 13 2 –(47) 3 (59) (103)
Loss on ordinary activities before interest 846 (5,015) (1,178) 289 518 243 (4,297) (56) 20 (4,333)
Total Group operating loss 846 (4,955) (1,176) 276 516 243 (4,250) (59) 79 (4,230)
Add back:
– Goodwill amortisation 384 8,147 4,826 1,119 701 30 15,207 ––15,207
– Exceptional operating items 130 – (351) (2) (5) –(228) ––(228)
Total Group operating profit before goodwill
amortisation and exceptional items 1,360 3,192 3,299 1,393 1,212 273 10,729 (59) 79 10,749
Depreciation and amortisation charges, excluding
goodwill amortisation 593 962 1,169 4 1,311 54 4,093 170 197 4,460
Intangible and tangible fixed asset additions 682 1,178 1,308 – 1,366 71 4,605 115 41 4,761
At 31 March 2004
Net assets/(liabilities) and attributed goodwill (before
net borrowings):
– subsidiary undertakings 7,348 43,867 37,010 (1,739) 14,956 432 101,874 319 – 102,193
– share of associated undertakings 4 5,500 76 15,047 18 403 21,048 178 – 21,226
7,352 49,367 37,086 13,308 14,974 835 122,922 497 – 123,419
Net debt (8,488)
114,931