Notes to the consolidated financial statements (continued) 176 Vodafone Group Plc Annual Report 2024 2020 176 Vodafone Group Plc Annual Report 2024 Strategic report Governance
Financials
Other information
12. Investments in associates and joint arrangements (continued) Summarised financial information
Summarised financial information for each of the Group’s material joint ventures on a 100% ownership basis is set out below and overleaf. Financial information is presented for Vodafone Idea Limited (‘VIL’) for the six month period to, and as at 30 September 2023 on the basis that full- year information in relation to VIL has not been released at the date of approval of these consolidated financial statements and as such is market sensitive for VIL. As disclosed above, the Group’s investment in VIL was reduced to €nil in the year ended 31 March 2020 and the Group has not recorded any profit or loss in respect of its share of VIL’s results since that date. Financial information is presented for TPG Telecom Limited (‘TPG’) for the year to, and as at 31 December 2023 on the basis that full-year information in relation to TPG has not been released at the date of approval of these consolidated financial statements and as such is market sensitive for TPG. Financial information presented for INWIT S.p.A. for the years to 31 March 2023 and 31 March 2022 is based on the financial results and financial position as at 31 December 2022 and 31 December 2021, respectively, being the latest financial information available to the Group when completing the consolidated financial statements for each year. Oak Holdings 1 GmbH VodafoneZiggo Group Holding B.V. 2024 2023 2022 2024 2023 2022 €m €m €m €m €m €m Income statement Revenue 1,166 – – 4,128 4,063 4,056 Operating expenses (130) – – (2,195) (2,124) (2,104) Depreciation and amortisation (868) – – (1,555) (1,527) (1,592) Other income 5 – – – – – Operating profit 173 – – 378 412 360 Interest income 5 – – – – – Interest expense (455) – – (809) 11 (276) Loss/(profit) before tax (277) – – (431) 423 84 Income tax credit/(expense) 132 – – 77 (150) (121) (Loss)/profit for the financial year 1 (145) – – (354) 273 (37) Vodafone Idea Limited TPG Telecom Limited 2024 2023 2022 2024 2023 2022 €m €m €m €m €m €m Income statement Revenue 2,381 5,046 4,450 3,371 3,027 3,375 Operating expenses (1,557) (3,280) (2,802) (2,238) (1,870) (2,292) Depreciation and amortisation (1,081) (2,396) (2,390) (891) (700) (914) Other expense – – (34) – – – Operating profit (257) (630) (776) 242 457 169 Interest income 4 9 14 – – – Interest expense (1,347) (2,567) (2,297) (368) (172) (122) (Loss)/profit before tax (1,600) (3,188) (3,059) (126) 285 47 Income tax (expense)/credit – – 2 (8) (25) (27) (Loss)/profit for the financial year 1 (1,600) (3,188) (3,057) (134) 260 20 INWIT S.p.A. 2024 2023 2022 €m €m €m Income statement Revenue – 853 785 Operating expenses – (73) (70) Depreciation and amortisation – (508) (513) Operating profit – 272 202 Interest expense – (81) (90) Profit before tax – 191 112 Income tax expense – (1) (30) Profit for the financial year 1 – 190 82 Note: 1 Total Other comprehensive income/(expense) is not materially different to profit/(loss) for the financial year.
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