Vodafone 2012 Annual Report Download - page 171

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Business review Performance Governance Financials Additional information
169
Vodafone Group Plc
Annual Report 2012
a the Group’s ability to secure the timely delivery of high quality,
reliable handsets, network equipment and other key products
fromsuppliers;
a loss of suppliers, disruption of supply chains and greater than
anticipated prices of new mobile handsets;
a changes in the costs to the Group of, or the rates the Group may
charge for, terminations and roaming minutes;
a the Group’s ability to realise expected benets from acquisitions,
partnerships, joint ventures, franchises, brand licences, platform
sharing or other arrangements with third parties, particularly those
related to the development of data and internet services;
a acquisitions and divestments of Group businesses and assets and
thepursuit of new, unexpected strategic opportunities which may
have a negative impact on the Group’s nancial condition and
resultsof operations;
a the Group’s ability to integrate acquired business or assets and the
imposition of any unfavourable conditions, regulatory or otherwise,
on any pending or future acquisitions or dispositions;
a the extent of any future write-downs or impairment charges on the
Group’s assets, or restructuring charges incurred as a result of an
acquisition or disposition;
a developments in the Group’s nancial condition, earnings and
distributable funds and other factors that the Board takes into
account in determining the level of dividends;
a the Group’s ability to satisfy working capital requirements through
borrowing in capital markets, bank facilities and operations;
a changes in foreign exchange rates, including particularly the
exchange rate of pounds sterling to the euro and the US dollar;
a changes in the regulatory framework in which the Group operates,
including the commencement of legal or regulatory action seeking
to regulate the Group’s permitted charging rates;
a the impact of legal or other proceedings against the Group or other
companies in the communications industry; and
a changes in statutory tax rates and prot mix, the Group’s ability to
resolve open tax issues and the timing and amount of any payments
in respect of tax liabilities.
Furthermore, a review of the reasons why actual results and
developments may differ materially from the expectations disclosed
orimplied within forward-looking statements can be found under
“Principal risk factors and uncertainties” on pages 51 to 53 of this
document. All subsequent written or oral forward-looking statements
attributable to the Company or any member of the Group or any
persons acting on their behalf are expressly qualied in their entirety
bythe factors referred to above. No assurances can be given that the
forward-looking statements in this document will be realised. Subject
tocompliance with applicable law and regulations, Vodafone does
notintend to update these forward-looking statements and does not
undertake any obligation to do so.