Vodafone 2025 Annual Report

116 Vodafone Group Plc Annual Report 2025 Reporting on our financial performance Contents

Strategic report

Governance

Financials

Other information

Financial position 154 10. Intangible assets 156 11. Property, plant and equipment 158 12. Associates and joint arrangements 163 13. Other investments

Additional disclosures 186 27. Acquisitions and disposals 188 28. Commitments 188 29. Contingent liabilities and legal proceedings 192 30. Related party transactions 193 31. Related undertakings 205 32. Subsidiaries exempt from audit 205 33. Subsequent events

117 Directors’ statement of responsibility 119 Independent auditor’s report to the members of Vodafone Group Plc 127 Consolidated financial statements 127 Consolidated income statement 127  Consolidated statement of comprehensive (expense)/income

164 14. Trade and other receivables 165 15. Trade and other payables 166 16. Provisions 167 17. Called-up share capital Cash flows 167 18. Reconciliation of net cash flow from operating activities 168 19. Cash and cash equivalents 168 20. Leases 171 21. Borrowings 172 22. Capital and financial risk management Employee remuneration 180 23. Directors’ and key management compensation 180 24. Employees 181 25. Post-employment benefits 185 26. Share-based payments

128  Consolidated statement of financial position 129  Consolidated statement of changes in equity 131  Consolidated statement of cash flows 131 Notes to the consolidated financial statements 131 1. Basis of preparation Income statement 138 2. Revenue disaggregation and segmental analysis 141 3. Operating (loss)/profit 142 4. Impairment losses 146 5. Investment income and financing costs 146 6. Taxation 151 7. Discontinued operations and assets held for sale

206 Company financial statements of Vodafone Group Plc 206  Company statement of financial position of Vodafone Group Plc 206  Company statement of changes in equity of Vodafone Group Plc 207 Notes to the Company financial statements 207 1. Basis of preparation 209 2. Fixed assets 210 3. Debtors 210 4. Other investments 210 5. Creditors 211 6. Called-up share capital 211 7. Share-based payments 211 8. Reserves 211 9. Equity dividends 212 10. Contingent liabilities and legal proceedings 212 11. Other matters 213 N on-GAAP measures (unaudited information) 222 Additional information (unaudited information)

153 8. Earnings per share 153 9. Equity dividends

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