UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
Report
of Foreign Private Issuer
Pursuant
to Rules 13a-16 or 15d-16 under
the
Securities Exchange Act of 1934
Dated
July 23, 2021
Commission
File Number: 001-10086
VODAFONE
GROUP
PUBLIC
LIMITED COMPANY
(Translation
of registrant’s name into English)
VODAFONE
HOUSE, THE CONNECTION, NEWBURY, BERKSHIRE, RG14 2FN, ENGLAND
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate
by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨ No x
If
“Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
.
This
Report on Form 6-K contains a Stock Exchange Announcement dated 22 July 2021 entitled ‘Change
in segmental reporting - Vantage Towers’.
22
July 2021
Change
in segmental reporting – updated for Vantage Towers
Following
the creation and successful IPO of Vantage Towers A.G. (“Vantage Towers”), one of Europe’s leading tower companies
that consolidates the ownership and operations of our passive mobile network infrastructure, we are updating our segmental reporting
structure to better reflect the way in which the Group now manages its operations.
Vantage
Towers will be reported as a new segment within Vodafone’s Group financial results. This change in reporting structure will take
effect from FY22 onwards and has no impact on service revenue.
The
tables below provide a proforma view of our FY20 and FY21 financial results under this new segmentation and should be used as the basis
of comparison for our FY22 results. However, there will be no change to our statutory information for comparative periods, which will
remain as previously disclosed.
New
segmental reporting structure
Proforma
FY211
|
|
Revenue
€m
|
|
|
Service
revenue
€m
|
|
|
Adjusted
EBITDAaL
€m
|
|
|
Adjusted
EBITDAaL margin
%
|
|
|
Capital
additions
€m
|
|
|
|
H1
21
|
|
|
FY21
|
|
|
H1
21
|
|
|
FY21
|
|
|
H1
21
|
|
|
FY21
|
|
|
H1
21
|
|
|
FY21
|
|
|
H1
21
|
|
|
FY21
|
|
Germany
|
|
|
6,371
|
|
|
|
12,984
|
|
|
|
5,723
|
|
|
|
11,520
|
|
|
|
2,685
|
|
|
|
5,323
|
|
|
|
42.1
|
%
|
|
|
41.0
|
%
|
|
|
1,110
|
|
|
|
2,504
|
|
Italy
|
|
|
2,506
|
|
|
|
5,014
|
|
|
|
2,249
|
|
|
|
4,458
|
|
|
|
800
|
|
|
|
1,597
|
|
|
|
31.9
|
%
|
|
|
31.9
|
%
|
|
|
297
|
|
|
|
773
|
|
UK
|
|
|
2,983
|
|
|
|
6,151
|
|
|
|
2,401
|
|
|
|
4,848
|
|
|
|
600
|
|
|
|
1,288
|
|
|
|
20.1
|
%
|
|
|
20.9
|
%
|
|
|
284
|
|
|
|
767
|
|
Spain
|
|
|
2,050
|
|
|
|
4,166
|
|
|
|
1,880
|
|
|
|
3,788
|
|
|
|
447
|
|
|
|
968
|
|
|
|
21.8
|
%
|
|
|
23.2
|
%
|
|
|
289
|
|
|
|
699
|
|
Other
Europe
|
|
|
2,720
|
|
|
|
5,549
|
|
|
|
2,411
|
|
|
|
4,859
|
|
|
|
794
|
|
|
|
1,613
|
|
|
|
29.2
|
%
|
|
|
29.1
|
%
|
|
|
350
|
|
|
|
840
|
|
Vodacom
|
|
|
2,423
|
|
|
|
5,181
|
|
|
|
1,949
|
|
|
|
4,083
|
|
|
|
891
|
|
|
|
1,873
|
|
|
|
36.8
|
%
|
|
|
36.2
|
%
|
|
|
333
|
|
|
|
703
|
|
Other
Markets
|
|
|
1,898
|
|
|
|
3,765
|
|
|
|
1,679
|
|
|
|
3,312
|
|
|
|
601
|
|
|
|
1,228
|
|
|
|
31.7
|
%
|
|
|
32.6
|
%
|
|
|
245
|
|
|
|
513
|
|
Vantage
Towers
|
|
|
576
|
|
|
|
1,165
|
|
|
|
-
|
|
|
|
-
|
|
|
|
304
|
|
|
|
603
|
|
|
|
52.8
|
%
|
|
|
51.8
|
%
|
|
|
98
|
|
|
|
229
|
|
Common
Functions
|
|
|
656
|
|
|
|
1,368
|
|
|
|
219
|
|
|
|
470
|
|
|
|
(119
|
)
|
|
|
(117
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
358
|
|
|
|
828
|
|
Eliminations
|
|
|
(729
|
)
|
|
|
(1,496
|
)
|
|
|
(93
|
)
|
|
|
(197
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Group
|
|
|
21,454
|
|
|
|
43,847
|
|
|
|
18,418
|
|
|
|
37,141
|
|
|
|
7,003
|
|
|
|
14,376
|
|
|
|
32.6
|
%
|
|
|
32.8
|
%
|
|
|
3,364
|
|
|
|
7,856
|
|
Proforma FY201,2
|
|
Revenue
€m
|
|
|
Service revenue
€m
|
|
|
Adjusted EBITDAaL
€m
|
|
|
Adjusted EBITDAaL
margin
%
|
|
|
Capital
additions
€m
|
|
|
|
FY20
|
|
|
FY20
|
|
|
FY20
|
|
|
FY20
|
|
|
FY20
|
|
Germany
|
|
|
12,076
|
|
|
|
10,696
|
|
|
|
4,738
|
|
|
|
39.2
|
%
|
|
|
2,114
|
|
Italy
|
|
|
5,529
|
|
|
|
4,833
|
|
|
|
2,068
|
|
|
|
37.4
|
%
|
|
|
697
|
|
UK
|
|
|
6,484
|
|
|
|
5,020
|
|
|
|
1,426
|
|
|
|
22.0
|
%
|
|
|
707
|
|
Spain
|
|
|
4,296
|
|
|
|
3,904
|
|
|
|
928
|
|
|
|
21.6
|
%
|
|
|
745
|
|
Other Europe
|
|
|
5,541
|
|
|
|
4,890
|
|
|
|
1,584
|
|
|
|
28.6
|
%
|
|
|
768
|
|
Vodacom
|
|
|
5,531
|
|
|
|
4,470
|
|
|
|
2,088
|
|
|
|
37.8
|
%
|
|
|
802
|
|
Other Markets
|
|
|
4,386
|
|
|
|
3,796
|
|
|
|
1,400
|
|
|
|
31.9
|
%
|
|
|
587
|
|
Vantage Towers
|
|
|
1,139
|
|
|
|
-
|
|
|
|
587
|
|
|
|
51.5
|
%
|
|
|
172
|
|
Common Functions
|
|
|
1,567
|
|
|
|
494
|
|
|
|
1
|
|
|
|
-
|
|
|
|
821
|
|
Eliminations
|
|
|
(1,517
|
)
|
|
|
(232
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Group
|
|
|
45,032
|
|
|
|
37,871
|
|
|
|
14,820
|
|
|
|
32.9
|
%
|
|
|
7,413
|
|
1.
Revenue, Adjusted EBITDAaL and capital additions for the Group as presented are different to those disclosed in the FY21 annual report
as a result of the inclusion of proforma effects for Wind Hellas and Vantage Towers incremental running costs.
2.
Only full year figures available
Proforma FY21
|
|
Non-current
assets(1)
€m
|
|
|
|
FY21
|
|
Germany
|
|
|
43,755
|
|
Italy
|
|
|
10,707
|
|
UK
|
|
|
6,529
|
|
Spain
|
|
|
6,609
|
|
Other Europe
|
|
|
8,361
|
|
Vodacom
|
|
|
5,839
|
|
Other Markets
|
|
|
2,988
|
|
Vantage Towers
|
|
|
7,859
|
|
Common Functions
|
|
|
2,145
|
|
Group
|
|
|
94,792
|
|
1.
Comprises goodwill, other intangible assets and property, plant and equipment in accordance with Note 2 to the consolidated financial
statements in our FY21 Annual Report.
Notes:
i.
|
|
Vodafone
owns 81.7% of the ordinary shares in Vantage Towers A.G.
|
ii.
|
|
The
Groups proforma segment for Vantage Towers reflects the relevant proforma information released
by Vantage Towers and is available at https://www.vantagetowers.com/investors/results-report-and-presentation,
together with the contribution from Cornerstone Technologies Infrastructure Limited (‘CTIL’;
the Groups 50:50 joint venture with Telefonica in the UK). CTIL is reported as a joint operation
in the Groups financial statements, but as a joint venture using the equity method in the
Vantage Towers financial statements.
|
iii.
|
|
The
proforma view of our FY20 and FY21 financial results has been prepared for illustrative purposes
only and shows a hypothetical situation and, therefore, does not represent the actual financial
position or results of the Group if the new segmentation had occurred on 1 April 2019 for
purposes of income statement line items and 31 March 2021 for purposes of non-current assets.
The proforma view of our FY20 and FY21 financial results is based on factually supportable
proforma adjustments, which we consider reasonable. Future results of operations may differ
materially from those presented. The proforma view of our FY20 and FY21 financial results
may not give a true picture of our financial results or non-current assets nor is it indicative
of the results that may, or may not, be expected to be achieved in the future. The proformas
have not been prepared in accordance with Regulation S-X under the United States Securities
Exchange Act of 1934 and the auditing standards generally accepted in the United States,
and accordingly should not be relied upon as if it had been carried out in accordance with
those standards or any other standards besides the standards mentioned above.
|
-ends-
For
more information, please contact:
Investor Relations
|
|
Media Relations
|
|
|
|
Investors.vodafone.com
|
|
Vodafone.com/media/contact
|
ir@vodafone.co.uk
|
|
GroupMedia@vodafone.com
|
Registered
Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679
About
Vodafone
Vodafone is a leading telecommunications
company in Europe and Africa. Our purpose is to “connect for a better future” enabling an inclusive and sustainable digital
society. Our expertise and scale gives us a unique opportunity to drive positive change for society. Our networks keep family, friends,
businesses and governments connected and – as COVID-19 has clearly demonstrated – we play a vital role in keeping economies
running and the functioning of critical sectors like education and healthcare.
Vodafone
is the largest mobile and fixed network operator in Europe and a leading global IoT connectivity provider. Our M-Pesa technology platform
in Africa enables over 48m people to benefit from access to mobile payments and financial services. We operate mobile and fixed networks
in 21 countries and partner with mobile networks in 49 more. As of 31 March 2021, we had over 300m mobile customers, more than 28m fixed
broadband customers, over 22m TV customers and we connected more than 123m IoT devices.
We
support diversity and inclusion through our maternity and parental leave policies, empowering women through connectivity and improving
access to education and digital skills for women, girls, and society at large. We are respectful of all individuals, irrespective of
race, ethnicity, disability, age, sexual orientation, gender identity, belief, culture or religion.
Vodafone
is also taking significant steps to reduce our impact on our planet by reducing our greenhouse gas emissions by 50% by 2025 and becoming
net zero by 2040, purchasing 100% of our electricity from renewable sources by 2025 and by July 2021 in Europe, and reusing, reselling
or recycling 100% of our redundant network equipment.
For
more information, please visit www.vodafone.com, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at www.linkedin.com/company/vodafone.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorised.
|
VODAFONE GROUP
|
|
PUBLIC LIMITED COMPANY
|
|
(Registrant)
|
Dated: July 23, 2021
|
By:
|
/s/ R E S MARTIN
|
|
Name: Rosemary E S Martin
|
|
Title: Group General Counsel and Company Secretary
|
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