Vodafone Group Plc Annual Report 2025 167
Strategic report
Governance
Financials
Other information
17. Called up share capital
18. Reconciliation of net cash flow from operating activities
Called up share capital is the number of shares in issue at their par value. A number of shares were allotted during the year in relation to employee share schemes. Accounting policies Equity instruments issued by the Group are recorded at the amount of the proceeds received, net of direct issuance costs. 2025 2024 Number €m Number €m Ordinary shares of 20 20 ⁄ 21 US cents each allotted, issued and fully paid: 1,2 1 April 28,818,683,808 4,797 28,818,256,058 4,797 Allotted during the year 455,190 – 427,750 – Cancelled during the year (2,430,853,096) (478) – – 31 March 26,388,285,902 4,319 28,818,683,808 4,797 Notes: 1. At 31 March 2025, there were 50,000 (2024: 50,000) 7% cumulative fixed rate shares of £1 each in issue. 2. At 31 March 2025, the Group held 1,416,813,312 (2024: 1,738,561,954 ) treasury shares with a nominal value of € 232 million (2024: € 289 million). The market value of shares held was € 1,234 million (2024 : € 1,434 million). During the year, 99,750,090 (2024: 87,129,475) treasury shares were reissued under Group share schemes and 2,208,854,544 (2024: nil) shares were repurchased following the disposal of Vodafone Spain.
The table below shows how our (loss)/profit for the year from continuing operations translates into cash flows generated from our operating activities. 2025 2024 2023 Note €m €m €m (Loss)/profit for the financial year (3,746) 1,505 12,335 Loss/(Profit) for the financial year from discontinued operations 22 65 247 (Loss)/profit for the financial year from continuing operations (3,724) 1,570 12,582 Investment income 5 (864) (581) (232) Financing costs 5 1,931 2,626 1,609 Income tax expense 6 2,246 50 492 Operating (loss)/profit (411) 3,665 14,451 Adjustments for: Share-based payments and other non-cash charges 68 98 58 Depreciation and amortisation 10, 11 10,804 10,414 10,255 Loss on disposal of property, plant and equipment and intangible assets 13 34 33 Share of result of equity accounted associates and joint ventures 12 123 96 (433) Impairment charge/(reversal) 4 4,515 (64) 64 Other income 3 (565) (372) (9,402) Decrease / (increase) in inventory 134 177 (168) (Increase)/decrease in trade and other receivables 14 (774) (597) (486) Increase/(decrease) in trade and other payables 15 710 534 1,446 Cash generated by operations 14,617 13,985 15,818 Net tax paid (901) (724) (1,228) Cashflows from discontinued operations 1,657 3,296 3,464 Net cash flow from operating activities 15,373 16,557 18,054
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