Vodafone 2010 Annual Report Download - page 115
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Financials
Vodafone Group Plc Annual Report 2010 113
Pro-forma full year information
The following unaudited pro-forma summary presents the Group as if the additional stake in Vodacom had been acquired on 1 April 2009. The pro-forma amounts include
the results of Vodacom, amortisation of the acquired intangible assets recognised on acquisition and interest expense on the increase in net debt as a result of the
acquisition. The pro-forma amounts do not include any possible synergies from the acquisition of an additional stake in Vodacom. The pro-forma information is provided
for comparative purposes only and does not necessarily reflect the actual results that would have occurred, nor is it necessarily indicative of future results of operations
of the combined companies.
2010
£m
Revenue 44,677
Profit for the financial year 8,556
Profit attributable to equity shareholders 8,603
Pence
Basic earnings per share 16.36
Diluted earnings per share 16.28
Australia
On 9 June 2009 Vodafone Australia completed its merger with Hutchison 3G Australia to form a 50:50 joint venture. Vodafone Hutchison Australia (Pty) Limited, which, in
due course, will market its products and services solely under the Vodafone brand. The results of the combined business have been proportionately consolidated in the
Group’s results as a joint venture from the date of the merger.
Other
During the 2010 financial year the Group completed a number of smaller acquisitions for net cash consideration of £26 million paid during the year. The aggregate goodwill
and fair values of identifiable assets and liabilities of the acquired operations were £27 million, £23 million and £24 million respectively.
27. Reconciliation of net cash ow from operating activities
2010 2009 2008
£m £m £m
Profit for the financial year 8,618 3,080 6,756
Adjustments for:
Share-based payments 150 128 107
Depreciation and amortisation 7,910 6,814 5,909
Loss on disposal of property, plant and equipment 101 10 70
Share of result in associates (4,742) (4,091) (2,876)
Impairment losses, net 2,100 5,900 –
Other income and expense (114) –28
Non-operating income and expense 10 44 (254)
Investment income (716) (795) (714)
Financing costs 1,512 2,419 2,014
Income tax expense 56 1,109 2,245
Decrease/(increase) in inventory 281 (78)
(Increase)/decrease in trade and other receivables (714) 80 (378)
Increase/(decrease) in trade and other payables 1,164 (145) 460
Cash generated by operations 15,337 14,634 13,289
Tax paid (2,273) (2,421) (2,815)
Net cash flow from operating activities 13,064 12,213 10,474