168 Vodafone Group Plc Annual Report 2026
Strategic report
Governance
Financials
Other information
Included in the net book value of land and buildings and equipment, fixtures and fittings are assets in the course of construction, which are not depreciated, with a cost of €18 million (2025: €15 million) and €1,297 million (2025: €1,355 million) respectively. Also included in the book value of equipment, fixtures and fittings are assets leased out by the Group under operating leases, with a cost of €1,678 million (2025: €1,653 million), accumulated depreciation of €1,165 million (2025: €1,133 million) and net book value of €513 million (2025: €520 million). Right-of-use assets arising from the Group’s lease arrangements are recorded within property, plant and equipment: 2026 2025 €m €m Property, plant and equipment (owned assets) 22,666 20,402 Right-of-use assets 11,527 10,310 31 March 34,193 30,712 Additions of €3,845 million (2025: €4,656 million), acquisitions of subsidiaries of €1,998 million (2025: €nil) and a depreciation charge of €3,973 million (2025: €3,235 million) were recorded in respect of right-of-use assets during the year ended 31 March 2026.
11. Property, plant and equipment (continued)
Equipment, fixtures and fittings
Land and buildings
Total €m
€m
€m
Cost 1 April 2024
1,557 58,201 59,758
Exchange movements
5
(381) (904)
(376) (917)
Additions Disposals
27 (13) (16) 5
4,447 1,172 282 1,517 5,310 1,119 169
4,474 1,177 266 1,549 5,350 1,125 177
Hyperinflation impacts 31 March 2025 Exchange movements Acquisition of subsidiaries 1 Other
1,565 62,817 64,382 (19) (1,632) (1,651)
32 40
Additions Disposals
(20) (1,257) (1,277)
Hyperinflation impacts
6 8
Other
31 March 2026
1,612 68,043 69,655
Accumulated depreciation and impairment 1 April 2024
989 39,370 40,359
Exchange movements Charge for the year Hyperinflation impacts Disposals 31 March 2025 Exchange movements Charge for the year Other Hyperinflation impacts Disposals
4
(308) (867) 849
(304) (881) 851
36 (14) (12) 2
3,838
3,874
93
81
1,005 42,975 43,980 (12) (1,123) (1,135) (16) (1,116) (1,132) 40 4,351 4,391
2 1
828 54
830 55
Other
31 March 2026 Net book value 31 March 2025 31 March 2026
1,020 45,969 46,989
560 19,842 20,402 592 22,074 22,666
Note: 1. Primarily attributable to the merger of Vodafone Limited and Hutchison 3G UK Holdings Limited in the UK. See note 27 ‘Acquisitions and disposals’ for further details.
Powered by FlippingBook