171 Vodafone Group Plc Annual Report 2026
Strategic report
Governance
Financials
Other information
Summarised financial information for the Group’s material joint ventures on a 100% ownership basis is set out in the tables below. Oak Holdings 1 GmbH VodafoneZiggo Group Holding B.V. 2026 2025 2026 2025 €m €m €m €m Statement of financial position Non-current assets 22,819 24,149 14,184 15,012 Current assets 635 749 680 788 Total assets 23,454 24,898 14,864 15,800 Equity shareholders’ funds 10,414 11,887 319 660 Non-current liabilities 10,434 10,167 12,253 12,773 Current liabilities 2,606 2,844 2,292 2,367 Cash and cash equivalents within current assets 187 240 98 144 Non-current liabilities excluding trade and other payables and provisions 9,900 9,560 12,049 12,640 Current liabilities excluding trade and other payables and provisions 320 502 1,082 1,094 Vodafone Idea Limited 2026 3 2025 €m €m Statement of financial position Non-current assets 14,035 16,069 Current assets 1,854 2,817 Total assets 15,889 18,886 Equity shareholders’ deficit (9,586) (9,479) Non-current liabilities 20,509 22,636 Current liabilities 4,966 5,729 Cash and cash equivalents within current assets 310 1,145 Non-current liabilities excluding trade and other payables and provisions 20,491 22,612 Current liabilities excluding trade and other payables and provisions 2,152 2,307
12. Associates and joint arrangements (continued) Summarised financial information Summarised financial information for the Group’s material joint ventures on a 100% ownership basis is set out below. Financial information is presented for Vodafone Idea Limited (‘VIL’) for the six month period to, and as at 30 September 2025 on the basis that full year information in relation to VIL has not been released at the date of approval of these financial statements and as such is market sensitive for VIL. Oak Holdings 1 GmbH VodafoneZiggo Group Holding B.V. 2026 2025 2024 2026 2025 2024 €m €m €m €m €m €m Income statement Revenue 1,327 1,249 1,166 3,976 4,082 4,128 Operating expenses (94) (117) (130) (2,219) (2,190) (2,195) Depreciation and amortisation (917) (953) (868) (1,509) (1,600) (1,555) Impairment losses 1 (928) – – – – – Other (expense)/income (105) (26) 5 – – – Operating (loss)/profit (717) 153 173 248 292 378 Interest income 4 7 5 – – – Interest expense (525) (538) (455) (539) (652) (809) Loss before tax (1,238) (378) (277) (291) (360) (431) Income tax credit 358 212 132 73 111 77 Loss for the financial year 2 (880) (166) (145) (218) (249) (354) Vodafone Idea Limited 2026 3 2025 2024 €m €m €m Income statement Revenue 2,227 4,797 4,749 Operating expenses (1,426) (3,005) (3,066) Depreciation and amortisation (979) (2,142) (2,178) Other income – – 83 Operating loss (178) (350) (412) Interest income 24 107 7 Interest expense (1,099) (2,539) (2,718) Loss before tax (1,253) (2,782) (3,123) Income tax expense – (2) (95) Loss for the financial year 2 (1,253) (2,784) (3,218) Notes: 1. Includes €928 million in respect of the investment Oak Holdings 1 GmBH holds in Infrastrutture Wireless Italiane S.p.A. (‘Inwit’). 2. Total Other comprehensive (expense)/income is not materially different to (loss)/profit for the financial year. 3. Six month period to, and as at 30 September 2025.
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