Vodafone 2013 Annual Report Download - page 156

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Other unaudited nancial information (continued)
Revenue grew by 4.2% after a 4.2 percentage point adverse impact
from foreign exchange rate movements. On an organic basis service
revenue grew by 8.0%* driven by customer and data growth, partially
offset by the impact of MTR reductions. Growth was driven by strong
performances in India, Vodacom, Ghana and Qatar and a return
to growth in Egypt, offset by service revenue declines in Australia and
NewZealand.
EBITDA grew by 2.9% after a 4.8 percentage point adverse impact from
foreign exchange rate movements. On an organic basis, EBITDA grew
by7.8%* driven primarily by strong growth in India and Vodacom and
improved contributions from Ghana and Qatar, offset in part by declines
in Egypt and Australia.
Organic
change
%
Other
activity1
pps
Foreign
exchange
pps
Reported
change
%
Revenue – AMAP 8.4 –(4.2) 4.2
Service revenue
India 19.5 (0.1) (8.6) 10.8
Vodacom 7.1 –(5.7) 1.4
Other AMAP (1.8) (0.1) 1.3 (0.6)
AMAP 8.0 –(4.3) 3.7
EBITDA
India 22.9 (0.2) (8.8) 13.9
Vodacom 11.3 –(6.6) 4.7
Other AMAP (9.1) (0.1) 0.1 (9.1)
AMAP 7.8 (0.1) (4.8) 2.9
Adjusted operating prot
India 389.3 (40.6) (48.7) 300.0
Vodacom 41.1 –(10.0) 31.1
Other AMAP (22.4) (0.2) (1.1) (23.7)
AMAP 22.4 (0.3) (6.4) 15.7
Notes:
1 “Other activity” includes the impact of M&A activity and the revision to intra-group roaming charges from
1October 2011. Refer to “Organic growth” on page 188 for further detail.
2 Excludes Gateway and Vodacom Business Africa.
India
Service revenue grew by 19.5%,* driven by an 11.8% increase in the
customer base, strong growth in incoming and outgoing voice
minutes and 51.3%* growth in data revenue. 3G services were available
to Vodafone customers in 860 towns and cities across 20 circles
at 31March 2012. Growth also beneted from mobile operators
starting tocharge for SMS termination during the second quarter
of the 2012 nancial year. At 31 March 2012 the customer base had
increased to 150.5 million, with data customers totalling 35.4 million,
a year-on-year increase of 81.5%. This was driven by an increase in data
enabled handsets and the impact of successful marketing campaigns.
Whilst themarket remained highly competitive, the effective rate per
minute remained broadly stable during the 2012 nancial year, with
promotional offers offsetting headline price increases.
EBITDA grew by 22.9%* driven by the increase in revenue and
economies of scale, partially offset by higher customer acquisition
costs and increased interconnection costs. Full year EBITDA margin
increased 0.8* percentage points to 26.3%, driven by cost efciencies
and scale benets.
Vodacom
Service revenue grew by 7.1%,* driven by service revenue growth
in South Africa of 4.4%*, where strong net customer additions and
growthin data revenue was partially offset by the impact of MTR cuts
(effective 1 March 2011 and 1 March 2012). Despite competitive pricing
pressures,data revenue in South Africa grew by 24.3%,* driven by higher
smartphone penetration and data bundles leading to a 35.4% increase
in active data customers to 12.2 million at 31 March 2012.
Vodacom’s mobile operations outside South Africa delivered strong
service revenue growth of 31.9%*2, driven by customer net additions
and the simplication of tariff structures in Mozambique and
Tanzania. M-Pesa, our mobile phone based money transfer service,
continued to perform well in Tanzania with over 3.1 million active users
at 31 March 2012.
EBITDA increased by 11.3%* driven by robust service revenue growth
and continued focus on operating cost efciencies.
Prior year operating results (continued)
Africa, Middle East and Asia Pacic
India
£m
Vodacom
£m
Other
AMAP
£m
Eliminations
£m
AMAP
£m
% change
£m Organic
Year ended 31 March 2012
Revenue 4,265 5,638 3,965 – 13,868 4.2 8.4
Service revenue 4,215 4,908 3,628 – 12,751 3.7 8.0
EBITDA 1,122 1,930 1,063 – 4,115 2.9 7.8
Adjusted operating prot 60 1,084 328 – 1,472 15.7 22.4
EBITDA margin 26.3% 34.2% 26.8% 29.7%
Year ended 31 March 2011
Revenue 3,855 5,479 3,971 (1) 13,304 20.0 9.5
Service revenue 3,804 4,839 3,650 (1) 12,292 20.0 9.5
EBITDA 985 1,844 1,170 – 3,999 20.7 7. 5
Adjusted operating prot 15 827 430 – 1,272 55.5 8.6
EBITDA margin 25.6% 33.7% 29.5% 3 0.1%
154 Vodafone Group Plc
Annual Report 2013