161
Strategic report
Governance
Financials
Other information
Vodafone Group Plc Annual Report 2025
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. Oak Holdings 1 GmbH VodafoneZiggo Group Holding B.V. 2025 2024 2025 2024 €m €m €m €m Statement of financial position Non-current assets 24,149 24,015 15,012 15,753 Current assets 749 746 788 884 Total assets 24,898 24,761 15,800 16,637 Equity shareholders’ funds 11,887 12,630 660 1,033 Non-current liabilities 10,167 9,386 12,773 13,145 Current liabilities 2,844 2,745 2,367 2,459 Cash and cash equivalents within current assets 240 267 144 61 Non-current liabilities excluding trade and other payables and provisions 9,560 8,751 12,640 12,995 Current liabilities excluding trade and other payables and provisions 502 502 1,094 1,171
The reconciliation of summarised financial information presented to the carrying amount of our interest in joint ventures is set out below. Oak Holdings 1 GmbH VodafoneZiggo Group Holding B.V. 2025 2024 2025 2024 2023 €m €m €m €m €m Equity shareholders’ funds 11,887 12,630 660 1,033 Interest in joint ventures 1 5,943 7,620 330 516 Carrying value 5,943 7,620 330 516
(Loss)/profit for the financial year
(166) (74)
(145) (85)
(249) (125)
(354) (177)
273 137
Share of (loss)/profit 1
Vodafone Idea Limited
TPG Telecom Limited
2025
2025
2024
2023
2024
2023
€m
€m
€m
€m
€m
€m
Equity shareholders’ (deficit)/funds Interest in joint ventures 1
(9,479) (13,710)
2,175
2,606
(1,524)
(4,300)
(144)
(53)
Impairment
(234)
(240)
–
–
Goodwill
–
–
48
51
Investment proportion not recognised
1,758
4,540
–
–
Carrying value
(96)
(2)
Vodafone Idea Limited
TPG Telecom Limited
–
–
2025
2025
2024
2024
€m
€m
€m
€m
(Loss)/profit for the financial year
(2,784)
(3,218) (1,009)
(3,188) (1,030)
(227)
(134)
260
Statement of financial position Non-current assets
Share of (loss)/profit 1
(660)
(97)
(74)
48
16,069
16,251
9,024
9,663
Share of loss not recognised Share of (loss)/profit 1
660
1,009
1,030
–
–
–
Current assets
2,817
1,654
734
900
(97)
(74)
48
–
–
–
Total assets
18,886 (9,479) 22,636
17,905
9,758 2,175 6,523 1,060
10,563
Equity shareholders’ (deficit)/funds
(13,710)
2,606 6,789 1,168
INWIT S.p.A.
Non-current liabilities
25,855
2025
2024
2023
Current liabilities
5,729 1,145
5,760
€m
€m
€m
Equity shareholders’ funds Interest in joint ventures
–
–
Cash and cash equivalents within current assets
60
85
192
–
–
Non-current liabilities excluding trade and other payables and provisions Current liabilities excluding trade and other payables and provisions
Carrying value
–
–
22,612
25,837
6,437
6,704
Profit for the financial year
– –
– –
190
2,307
2,044
105
102
Share of profit
63
Share of profit not recognised as held for sale
–
–
(33)
Share of profit
30
–
–
Note: 1. The Group’s effective ownership percentages of Oak Holdings 1 GmbH, VodafoneZiggo Group Holding B.V., Vodafone Idea Limited and TPG Telecom Limited are 50.0%, 50.0%, 24.4% and 25.1%, respectively, rounded to the nearest tenth of one percent.
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