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Vodafone Group Plc Annual Report 2007 3
At/year ended 31 March
2007 2007 2006 2005 2004 2003
$m £m £m £m £m £m
US GAAP
Consolidated Income Statement Data
Revenue 49,919 25,359 23,756 21,370 19,637 15,487
Net loss(4) (8,514) (4,325) (13,270) (13,752) (8,105) (9,072)
Consolidated Balance Sheet Data
Shareholders’ equity 139,923 71,081 86,984 107,295 129,141 140,580
Earnings per share (“EPS”)(3)
Weighted average number of shares – basic and diluted (millions) 55,144 55,144 62,607 66,196 68,096 68,155
Basic and diluted loss per ordinary share (15.43)¢ (7.84)p (21.20)p (20.77)p (11.90)p (13.31)p
Basic and diluted loss per ADS (154.3)¢ (78.4)p (212.0)p (207.7)p (119.0)p (133.1)p
Cash Dividends(3)(5)
Amount per ordinary share 13.31¢ 6.76p 6.07p 4.07p 2.0315p 1.6929p
Amount per ADS 133.1¢ 67.6p 60.7p 40.7p 20.315p 16.929p
Other Data
IFRS
Ratio of earnings to fixed charges(6) –––7.0
Deficit (8,640) (4,389) (16,520) –
US GAAP
Ratio of earnings to fixed charges(6) ––––––
Deficit(7) (13,319) (6,766) (13,875) (9,756) (9,059) (8,436)
Notes:
(1) Refer to “Performance – Non-GAAP Information” on page 62 for a reconciliation of this non-GAAP measure to the most comparable GAAP measure and a discussion of this measure.
(2) Amounts reported refer to continuing operations.
(3) See note 8 to the Consolidated Financial Statements, “(Loss)/earnings per share”. Earnings per American Depository Share (“ADS”) is calculated by multiplying earnings per ordinary share by ten, the
number of ordinary shares per ADS. Dividend per ADS is calculated on the same basis.
(4) 2005 net loss includes the cumulative effect of accounting changes related to intangible assets and post employment benefits that increase net loss by £6,372 million or 9.63p per ordinary share.
(5) The final dividend for the year ended 31 March 2007 was proposed by the directors on 29 May 2007.
(6) For the purposes of calculating these ratios, earnings consist of profit before tax adjusted for fixed charges, dividend income from associated undertakings, share of profits and losses from associated
undertakings and profits and losses on ordinary activities before taxation from discontinued operations. Fixed charges comprise one-third of payments under operating leases, representing the estimated
interest element of these payments, interest payable and similar charges and preferred share dividends.
(7) The deficits for the 2003 and 2004 financial years are presented on the same basis as the Form 20-F for the year ended 31 March 2004. These deficits have not been restated for the effect of discontinued
operations, because the UK GAAP information, which forms the basis of the US GAAP information presented, has not been restated. Even if any such adjustments were made, it is expected that the ratio of
earnings to fixed charges would still show a deficit.
HighlightsHighlights
2007
2006
2005
Net cash inflow from operating
activities(2) (£m) Year ended 31 March
10,193
10,190
9,240
2007
2006
2005
Free cash flow(3) (£m)
Year ended 31 March –4.5%
6,127
6,418
6,592
2007
2006
2005
Dividends per share (pence per share)
Year ended 31 March +11.4%
6.76
6.07
4.07