Vodafone 2025 Annual Report

Vodafone Group Plc Annual Report 2025 157

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 € 15 million (2024 : € 4 million) and € 1,355 million (2024 : € 1,401 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 € 1,653 million (2024 : € 1,623 million), accumulated depreciation of € 1,133 million (2024 : € 1,040 million) and net book value of € 520 million (2024: €583 million). Right-of- use assets arising from the Group’s lease arrangements are recorded within property, plant and equipment: 2025 2024 €m €m Property, plant and equipment (owned assets) 20,402 19,399 Right-of-use assets 10,310 9,100 31 March 30,712 28,499 Additions of € 4,656 million (2024 : € 4,173 million) and a depreciation charge of € 3,235 million (2024 : € 4,108 million) were recorded in respect of right-of-use assets during the year ended 31 March 2025. Included in the depreciation charge for the year ended 31 March 2025 was € Nil (2024 : €1, 091 million) in respect of Vodafone Italy and Vodafone Spain, which are reported as discontinued operations. See note 7 ‘Discontinued operations and assets held for sale’.

11. Property, plant and equipment (continued)

Equipment, fixtures and fittings

Land and buildings

Total €m

€m

€m

Cost 1 April 2023

1,997 74,460 76,457 (31) (1,878) (1,909) (15) (2,070) (2,085) 34 4,753 4,787 (439) (18,530) (18,969)

Exchange movements

Additions Disposals

Transfer of assets held for resale Hyperinflation impacts

9 2 5

1,376

1,385

Other

90

92

31 March 2024 Exchange movements

1,557 58,201 59,758

(381) (904)

(376) (917)

Additions Disposals

27 (13) (16) 5

4,447 1,172 282

4,474 1,177 266

Hyperinflation impacts

Other

31 March 2025

1,565 62,817 64,382

Accumulated depreciation and impairment 1 April 2023

1,240 49,323 50,563 (7) (1,258) (1,265) (15) (2,039) (2,054) 56 4,814 4,870 (287) (12,507) (12,794) 989 39,370 40,359 1,037 1,039

Exchange movements Charge for the year 1

Disposals

Transfer of assets held for resale Hyperinflation impacts

2 4

31 March 2024 Exchange movements Charge for the year 1 Hyperinflation impacts Disposals

(308) (867) 849

(304) (881) 851

36 (14) (12) 2

3,838

3,874

Other

93

81

31 March 2025 Net book value 31 March 2024 31 March 2025

1,005 42,975 43,980

568 18,831 19,399 560 19,842 20,402

Note: 1. Included in the charge for the year ended 31 March 2025 was € Nil (2024 : € 988 million) in respect of Vodafone Italy and Vodafone Spain, which was reported as discontinued operations. See note 7 ‘Discontinued operations and assets held for sale’ for more information.

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