The way ahead? - Vodafone

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02 Vodafone Group Plc Annual Report 2013 Promoting women Our commitment to promoting greater female representation at board level was recently recognised by a leading Media award, “Breaking the Mould” where Vodafone was named overall winner of its 2013 award. Today 20% of our senior leadership are women, up from 17% two years ago. Turn to page 34 for more on our people.
Overview Business review Performance Governance Financials We have seen mixed trends in our business this year, with a difficult macroeconomic environment and regulatory pressure affecting many of our European businesses, strong growth in emerging markets and an excellent performance from our US associate. Resilient performance £44. 4bn Group revenue Group revenue decreased -4.2% to £44.4 billion as strong demand for data services and growth in emerging markets were offset by continued significant economic and regulatory pressures in Europe. -4.2% £12.0bn +3.7% Adjusted operating profit Adjusted operating profit was up 3.7% at £12.0 billion, and above our guidance range, as a result of a strong contribution from our US associate, Verizon Wireless. 29.9% EBITDA margin Reported EBITDA margin fell -1.3 percentage points. Excluding restructuring costs and on an organic basis margin was down -0.1 * percentage points, as the impact of steep revenue declines in Southern Europe offset improving margins in India and Vodacom. £6.3bn Capital expenditure Capital expenditure was stable at £6.3 billion as we continued to maintain a significant level of investment to extend our high speed mobile data coverage across our footprint. -1.3pp -1.6% Additional information More on: Key performance indicators Pages 18 and 19 £6.7bn Data revenue Data revenue increased 7.5%, or 13.8% * on an organic basis, reflecting increased smartphone penetration and further take-up of integrated voice, SMS and data plans. £5.6bn Free cash flow 03 Vodafone Group Plc Annual Report 2013 Free cash flow of £5.6 billion was within our guidance range. The decline reflected the relative strength of sterling against several currencies over the course of the year, as well as tough trading conditions. 10.19p +7.0% Total ordinary dividends per share Final dividends per share of 6.92 pence, giving total dividends per share of 10.19 pence, up 7.0% year-on-year, in line with our target. 15.65p Adjusted earnings per share Adjusted earnings per share was up 5.0% at 15.65 pence, driven by growth in adjusted operating profit and a lower share count as a result of share buybacks. +7.5% -8.1% +5.0%
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