Vodafone 2013 Annual Report Download - page 24
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How we do business
A simple
business model
We pursue a virtuous circle of investment, revenue,
strong cash conversion and reinvestment – while
rewarding shareholders along the way.
Our track record demonstrates
a successful balance between the
capital requirements of the business –
in networks, spectrum and IT platforms –
and our desire to sustain an attractive annual
cash return to shareholders.
Reinvestment
in the
business
Assets
Supplier relationships
Networks
Distribution
People
Brand
Capital expenditure
£6.2bn
£6.4bn
£6.3bn
2011
2012
2013
Networks
We aim to have a great mobile network
in each of our markets. This means giving
our customers far-reaching coverage, a very
reliable connection, and increasing speeds
and data capacity. We combine our ongoing
high level of network investment with
a commitment to securing the best possible
portfolio of spectrum. For more information
on our network build-out, see page 30.
Distribution
We reach our customers through around
15,000 of our own stores, a broad network
of exclusive distribution partners and third-
party retailers. The internet, whether accessed
through a mobile device or PC, is becoming
an increasingly important channel.
Supplier relationships
Given our scale and global reach, we tend
to be a key strategic partner for many
of our suppliers. We work closely with them
to build great networks, develop innovative
services and offer the widest range of the
latest devices.
People
We have a highly skilled, motivated and
diverse workforce, and we believe each
individual should be a key advocate of
Vodafone’s products and services. For more
information on our people, see page 34.
Brand
Vodafone is ranked as one of the most
valuable telecoms brands in the world, with
an attributed worth of US$27 billion (source:
Brand Finance). This brand strength is a major
driver of purchasing decisions for consumers
and enterprise customers alike.
22 Vodafone Group Plc
Annual Report 2013