Strategic report
Governance
Financials
Other information
Vodafone Group Plc Annual Report 2025
Welcome to our 2025 Annual Report Helping you get the most from our 2025 reporting suite You’ll find the fundamentals of our business within our annual report, for greater detail on the topics that matter to you, please refer to our cross-referencing table. We continue to move our future reporting under the Corporate Sustainability Reporting Directive (‘CSRD’).
In this report Strategic report
1 FY25 highlights 2 About Vodafone 3 Business model 6 Key performance indicators 8 Chair’s message 9 Chief Executive’s statement and strategic roadmap 10 Mega trends 11 Stakeholder engagement 14 Our people strategy 19 Our financial performance 30 Purpose, sustainability and responsible business 31 ESG governance structure and reporting 34 Protecting the Planet 39 Empowering people 42 Maintaining trust 44 – Human rights 46 – Privacy, security and resilience 53 Non-financial information 55 Our principle risks and uncertainties 60 Risk management 61 Climate-related risk Governance 67 Governance at a glance 68 Chair’s governance statement 70 Our governance structure and responsibilities 73 Our Board 77 Our Executive Committee 78 Culture and the Board 79 Board activities and effectiveness 83 Nominations and Governance Committee 86 Audit and Risk Committee 92 Technology Committee 93 ESG Committee 94 Remuneration Committee 97 Annual Report on Remuneration 116 Reporting on our financial performance 117 Directors’ statement of responsibility 119 Auditor’s report 127 Consolidated financial statements and notes 206 Company financial statements and notes Other information 213 Non-GAAP measures 223 Shareholder information 229 History and development, and regulation 236 Form 20-F cross reference guide 240 Forward-looking statements 241 Definition of terms 107 Remuneration Policy 113 US listing requirements 114 Directors’ report Financials
Modern Slavery Statement
Vodafone Annual Report
ESG Addendum & Methodology
Climate Transition Plan
Pay Gap Reporting Site
Code of Conduct
Transparency Report
Our reporting suite Strategy Financial Performance Stakeholder Engagement People Strategy GHG Emissions & Net Zero Human Rights Modern Slavery Privacy & Cyber Security Climate Related Risk Our Governance Structure Pay Gap Key:
Human Rights
Detailed information available
High level information available
Visit our corporate website and investor site to see the full reporting suite: investors.vodafone.com/esga-z
New shape of the Group Following the announced sale of Vodafone Spain and Vodafone Italy as part of right-sizing our portfolio for growth, both businesses are now treated as discontinued operations, and therefore excluded from Group results for continuing operations. Prior periods have also been restated to reflect the new shape of the Group. Environmental, Social and Governance (‘ESG’) reporting This year we have simplified our ESG reporting in the Annual Report as we have focused on embedding our purpose strategy across the business. We also report against a number of voluntary reporting frameworks to help our stakeholders understand our sustainable business performance. Disclosures prepared in accordance with the Global Reporting Initiative (‘GRI’) and Sustainability Accounting Standards Board (‘SASB’) guidance can be found in our ESG Addendum and on our website.
This document is the Group’s UK Annual Report and is not the Group’s Annual Report on Form 20-F that will be filed separately with the US SEC. This report contains references to Vodafone’s website, and other supporting disclosures located thereon such as videos, our ESG Addendum and Methodology document, and our cyber security factsheet, amongst others. These references are for readers’ convenience only and information included on Vodafone’s website is not incorporated in, and does not form part of, this Annual Report. References We have cross-referenced
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