Vodafone 2011 Annual Report Download - page 7

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Our mobile subsidiaries and joint venture
in Europe operate under the brand name
‘Vodafone’ and our majorxed line businesses
operate as ‘Vodafone’ or in the case of Italy
as ‘TeleTu’ or in Spain as ‘Tele2’.
Our subsidiaries and joint ventures in AMAP
operate under the ‘Vodafone’ brand, or in the
case of Vodacom and its mobile subsidiaries,
as ‘Vodacom’ and ‘Gateway’ brands. In India
we operate as ‘Vodafone Essar’. Our associate
in Kenya operates as ‘Safaricom’.
Non-Controlled Interests are businesses in
which we have an equity interest but do not
have management control. We aim to maximise
the value of these interests either by generating
liquidity or increasing free cash ow. During the
year we sold our interests in China Mobile and
SoftBank and in April 2011 we announced an
agreement to sell our 44% interest in SFR.
Common Functions primarily represent the
results of the partner markets and the net result
of unallocated central Group costs.
Revenue(1)
Adjusted operating profit(1)
Capital expenditure(1)
Operating free cash flow(1)
Mobile customers by market(2)
Non-Controlled Interests and Common Functions
Millions
Germany 36.7
Italy 23.4
UK 19.1
Spain 17.3
Turkey 16.8
Romania 9.2
Portugal 6.1
Netherlands 5.0
Greece 3.9
Czech Republic 3.2
Hungary 2.7
Ireland 2.2
Albania 1.6
Malta 0.2
Total 147.4
Millions
India 134.6
Vodacom 43.5
Egypt 31.8
Australia 3.6
Ghana 3.0
New Zealand 2.5
Qatar 0.8
Fiji 0.3
Total 220.1
Vodacom consists of:
South Africa 26.5
Tanzania 8.9
Democratic Republic of Congo 4.2
Mozambique 3.1
Lesotho 0.8
Africa, Middle East and Asia
Pacific (‘AMAP’)
Europe
Notes:
(1) The sum of these amounts do not equal Group totals due
to Non-Controlled Interests and Common Functions and
intercompany eliminations.
(2) Controlled and jointly controlled businesses. Excludes
3.4 million customers representing the Group’s share of
customers in our Polish joint venture Polkomtel which
is in our Non-Controlled Interests and Common
Functions segment.
2.5% decrease
£32.0bn
(2010: £32.8bn)
20.0% growth
£13.3bn
(2010: £11.1bn)
55.5% growth
£1.3bn
(2010: £0.8bn)
6.2% growth
£2.2bn
(2010: £2.1bn)
53.7% growth
£2.4bn
(2010: £1.6bn)
9.8% decrease
£5.7bn
(2010: £6.4bn)
stable
£3.7bn
(2010: £3.7bn)
9.2% decrease
£7.5bn
(2010: £8.2bn)
Business Country Ownership at 31 March 2011
Verizon Wireless US 45.0%
SFR France 44.0%(1)
Polkomtel Poland 24.4%
Bharti Airtel India 4.4%(2)
China Mobile China Sold(3)
SoftBank Japan Sold(4)
Notes:
(1) Sale announced in April 2011.
(2) Indirect interest.
(3) We previously held a 3.2% interest in China Mobile Limited.
(4) Our interests previously included loan notes and receivables issued by SoftBank.
£7.4bn
Agreed proceeds
from the sale of
Non-Controlled
Interests
In addition to the above, our associate Safaricom had 6.9 million
mobile customers based on our percentage ownership.
Vodafone Group Plc Annual Report 2011 5
Business review