Vodafone 2024 Annual Report

137 Vodafone Group Plc Annual Report 2024 137 Vodafone Group Plc Annual Report 2024 Consolidated statement of changes in equity for the years ended 31 March Additional Strategic report Governance

Financials

Other information

Accumulated other comprehensive income

Equity

Non-

Share capital 1

paid-in Treasury

Accumulated

Currency reserve 3

Pensions Revaluation

attributable controlling

Total equity €m

capital 2

shares €m

losses €m (98)

reserve

surplus 4

Other 5 €m

to owners

interests

€m

1 April 2021

4,797 150,812 (6,172) (121,640) 28,430 (1,234) 1,227

(464) 55,756 2,012 57,768

Issue or reissue of shares 6 Share-based payments Transactions with NCI in subsidiaries 7 Dividends Comprehensive income/(expense) OCI - before tax OCI - taxes Transfer to the income statement ('IS') Purchase of treasury shares ('TS') 8 31 March 2022 Adoption of IAS 29 Profit Issue or reissue of shares Share-based payments Transactions with NCI in subsidiaries Dividends Comprehensive income/(expense)

– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

(1,902) 2,000

– – – – – –

– – – –

– – – – – – – – – – – – – – – – – – – – – – – – – – – –

– – –

–

108

– – – – – – – –

–

108

119 199

– – – – – – –

(38) (2,483)

(38)

237

– (2,483) (532) (3,015)

2,237 2,237

(37) 483 (56) 627 –

– 1,863 4,546 – 2,368 2,939 – 2,237

562 5,108 536 2,773 26 2,965

– – – – –

(144)

(505)

(649)

– –

(649)

– – – – – – –

–

– (3,106)

–

– (3,106)

4,797 149,018 (7,278) (122,022) 28,393

(751) 1,227 1,399 54,783 2,290 57,073 (751) 1,227 1,399 55,348 2,290 57,638 565 565

– 1 – – – – – – – –

–

565

– – – –

– – 9

1 April 2022 - b/forward 4,797 149,018 (7,278) (122,022) 28,958

122

(113)

– – – –

10 126

10 135

126

– – – – – – – – –

–

(287) (2,502)

(287) (1,118) (1,405) – (2,502) (398) (2,900)

11,838 (1,374) (160)

963 11,267 – 11,838 (351) (301)

301 11,568 497 12,335

Profit 9

11,838

–

OCI - before tax OCI - taxes Transfer to the IS

– (1,469) (213)

– 1,314

(368) (230) (598)

– – – –

(3)

(3) (304)

(334)

– – – – – – – –

– – – – – – –

(334) 432 (563)

–

(334) 469 (563)

Translation of hyperinflationary results Purchase of TS 8 31 March 2023 Issue or reissue of shares Share-based payments Transactions with NCI in subsidiaries Share of equity accounted entities change in equity

432

– (563)

– – – – – – – –

– – 7

4,797 149,145 (7,719) (113,086) 27,584

(911) 1,227 2,362 63,399 1,084 64,483

–

(72)

108

– – – – – – – – – –

–

108

115

– – – – – – – – –

(26)

(5)

(31)

(164) (2,433)

(164)

–

(164)

Dividends Comprehensive (expense)/income

– (2,433) (256) (2,689)

1,140 1,140

(254) (826)

(58) (77) 19 –

– (1,748)

(920)

202

(718)

Profit

– 1,140

365 1,505

OCI - before tax OCI - taxes Transfer to the IS Translation of hyperinflationary results 31 March 2024

– – – –

– (2,331) (3,234) (192) (3,426)

583

602 23 549

– –

602 23 578

– –

549

4,797 149,253 (7,645) (114,641) 27,330

(969) 1,227

614 59,966 1,032 60,998

Notes: 1 See note 17 ‘Called up share capital’. 2 Includes share premium, capital reserve, capital redemption reserve, merger reserve and share-based payment reserve. The merger reserve was derived from acquisitions made prior to 31 March 2004 and subsequently allocated to additional paid-in capital on adoption of IFRS. 3 The currency reserve is used to record cumulative translation differences on the assets and liabilities of foreign operations. These differences are recycled to the income statement on disposal of the foreign operation. 4 The revaluation surplus derives from acquisitions of subsidiaries made before the Group’s adoption of IFRS 3 (Revised) on 1 April 2010 and comprises the amounts arising from recognising the Group’s pre-existing equity interest in the acquired subsidiary at fair value. 5 Principally includes the impact of the Group’s cash flow hedges with €2,037 million net loss deferred to other comprehensive income/(expense) during the year (2023: €2,322 million net gain; 2022: €3,704 million net gain) and €254 million net gain (2023: €896 million net gain; 2022: €1,422 million net gain) recycled to the consolidated income statement. These hedges primarily relate to foreign exchange exposure on fixed borrowings, with any foreign exchange on nominal balances directly impacting income statement in each period but interest cash flows unwinding to the consolidated income statement over the life of the hedges, up to 2063. See note 22 ‘Capital and financial risk management’. 6 Movements include the re-issue of 1,519 million shares (€1,903 million) in March 2022 to satisfy the second tranche of the Mandatory Convertible Bond issued in March 2019. 7 Principally relates to transactions in relation to Vantage Towers A.G. See note 27 ‘Acquisitions and disposals’ for details. 8 Represents the irrevocable and non-discretionary share buyback programmes which completed on 15 March 2023. 9 Includes a gain on disposal of Vantage Towers A.G. of €8,607 million and a gain on disposal of Vodafone Ghana of €689 million, offset by a loss on disposal of Vodafone Hungary of €69 million.