Notes to the consolidated financial statements (continued) 180 Vodafone Group Plc Annual Report 2024 2020 12. Investments in associates and joint arrangements (continued) Summarised financial information Summarised financial information for each of the Group’s material associates on a 100% ownership basis is set out below. Safaricom PLC Indus Towers Limited 2024 2023 2022 2024 2023 Strategic report Governance Financials 180 Vodafone Group Plc Annual Report 2024
Other information
2022 €m
€m
€m
€m
€m
€m
Income statement Revenue Operating expenses Other income Operating profit Interest income Interest expense Profit before tax Income tax expense
2,210 (1,189) (523)
2,468 (1,353) (432)
2,318 (1,164) (309)
3,185 (1,598) (637)
3,343 (2,240) (588)
3,122 (1,480) (598) 1,044
Depreciation and amortisation
142 640 16 (121) 535 (266) 269 399 (130)
68 751 13 (69) 695 (285)
– 9
–
–
– –
845
950 126 (218) 858 (192)
515 26 (200) 341 (102)
(59) 795 (270)
(140) 904 (272)
Profit for the financial year and total comprehensive income
410 489
525 542
666 666
239 239
632 632
Attributable to: - Owners of the parent - Non-controlling interests
(79)
(17)
–
–
–
Statement of financial position Non-current assets
3,901 578 4,479 1,566 767 968 163 1,178
3,007 436 3,443 1,269
6,082 1,230 7,312 4,086 2,098 1,128 –
5,243 1,081 6,324 3,453 1,954 917 –
Current assets Total assets
Equity shareholders' funds Non-controlling interests Non-current liabilities Current liabilities
532 753 889 127 500 322
Cash and cash equivalents within current assets Non-current liabilities excluding trade and other payables and provisions Current liabilities excluding trade and other payables and provisions
7
3
784 349
1,716
1,665
583 491 The reconciliation of summarised financial information presented to the carrying amount of our interest in the associate is set out below. Safaricom PLC Indus Towers Limited 2024 2023 2022 2024 2023 2022 €m €m €m €m €m €m Equity shareholders' funds 1,566 1,269 4,086 3,453 Interest in associates 1 625 507 860 727 Goodwill 2 2 244 181 Carrying value 627 509 1,104 908 Profit for the financial year 399 489 542 666 239 632 Share of profit 159 195 217 140 50 178 Note: 1 The Group’s effective ownership percentages of Safaricom PLC and Indus Towers Limited are 39.9% and 21.0%, respectively, rounded to the nearest tenth of one percent.
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