Befreiender Konzernabschluss Zum Geschäftsjahr Vom 01.04.2021 Bis Zum 31.03.2022 - Vodafone Vierte Verwaltungs AGDüsseldorf
| Published date | 20 Junio 2023 |
| Section | Rechnungslegung / Finanzberichte |
| Issuer | Vodafone Vierte Verwaltungs AGDüsseldorf |
Vodafone Vierte Verwaltungs AG
Düsseldorf
Befreiender Konzernabschluss zum Geschäftsjahr vom 01.04.2021 bis zum 31.03.2022
Vodafone Group Plc
Newbury/ England
Annual Report 2022
Contents
Strategic report
01 S Our strategic framework
02 S About Vodafone
04 S Financial and non-financial performance
06 Chairman's message
07 Chief Executive's statement
08 S Market and strategy
10 S Business model
12 Mega trends
14 Stakeholder engagement
16 Strategic review
21 Our people strategy
24 Our financial performance
34 S Purpose, sustainability and responsible business
36 Our purpose
36 - Inclusion for All
41 - Planet
44 - Digital Society
46 Contribution to Sustainable Development Goals
47 Responsible business
47 - Protecting data
52 - Protecting people
56 - Business integrity
58 Non-financial information
59 Risk management
65 - Long Term Viability Statement
66 - TCFD disclosure
Governance
68 S Governance at a glance
70 Chairman's governance statement
72 Our Company purpose, values, and culture
73 Our Board
75 Our governance structure
76 Division of responsibilities
77 Board activities and principal decisions
79 Board effectiveness
80 Nominations and Governance Committee
83 Audit and Risk Committee
89 ESG Committee
91 Remuneration Committee
93 Remuneration Policy
99 Annual Report on Remuneration
113 US listing requirements
114 Directors'report
Financials
116 Reporting on our financial performance
117 Directors' statement of responsibility
119 Auditor's report
129 Consolidated financial statements and notes
215 Company financial statements and notes
Other information
223 Non-GAAP measures
234 Shareholder information
240 History and development
240 Regulation
249 Form 20-F cross reference guide
252 Forward-looking statements
253 Definition of terms
Welcome to our 2022 Annual Report
We have adopted a digital first approach to our reporting reflecting how we operate as a business Whilst the Annual Report continues to be a core part of our reporting suite, we use a simplified format and include links to interactive online content, such as videos. This online material brings to life what we do and how we do it, and provides you with a better overall understanding of our business. We also provide summaries at the start of each key section (denoted by an(s) in the contents to the left).
We continue to publish a separate report that summarises our progress towards meeting the recommendations of the Task Force on Climate-related Financial Disclosures ( ́TCFD’), as well as a comprehensive addendum that includes data on Environmental, Social and Governance (`ESG’) topics.
ESG reporting
We have also reported 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') or Sustainability Accounting Standards Board ('SASB') guidance can be found in our ESG Addendum or on investors.vodafone.com.
References
The Annual Report has been designed to aid navigation. We have cross-referenced relevant material and included navigation buttons that are ‘clickable’ when using the digital version of the Annual Report. Online content can be accessed by clicking links on the digital version of this Annual Report, copying the website address into an internet browser, or scanning the QR code on a mobile device.
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 at a later date.
This report contains references to Vodafone’s website, and other supporting disclosures located thereon such as videos our ESG Addendum and our TCFD report, amongst others. These references are for readers’ convenience only and information included on Vodafone’swebsite is not incorporated in, and does not form part of, this Annual Report.
Our strategic framework
Our strategy is focused on sustainable growth to drive returns
FY22 highlights
Our financial performance demonstrates our sustainable growth, despite broader macroeconomic challenges. Our results are in line with our expectations for the year and our medium-term ambitions.
FY22 Adjusted FCF ahead of guidance
€5.4bn
Full year dividend per share
9.0
eurocents
About Vodafone
A new generation connectivity and digital services provider
How we are structured
We recognise the importance of local, in-market scale and capabilities, but also drive further value from our Group scale and breadth of our footprint.
Where we operate and what we sell
Our retail and service operations are split across three broad business lines: Europe Consumer, Vodafone Business and Africa Consumer.
Our biggest market is Germany.
Europe Consumer
We provide a range of market leading mobile and fixed-line connectivity services in all of our European markets, enabling customers to reliably call, text and access data on their mobile devices, or access broadband, TV and voice services at home.
Our converged plans combine these offerings, providing simplicity and better value for our customers. Other value added services include our Consumer IoT propositions, as well as security and insurance products.
Vodafone Business
We serve private and public sector customers of all sizes with a broad range of connectivity services supported by our dedicated global network.
We have unique scale and capabilities, and are expanding our portfolio of products and services into growth areas such as unified communications, cloud & security, and IoT.
African Consumer
We provide a range of mobile services, enabling customers to call, text and access data. The demand for mobile data is growing rapidly driven by the lack of fixed broadband access and by increased smartphone penetration.
Together with Vodacom’s VodaPay super-app and the M-Pesa payment platform, we are the leading provider of financial services, as well as business and merchant services in Africa.
Our products and services
Core connectivity products and services in fixed and mobile account for the majority of our revenue. However, we are constantly expanding our portfolio into high return growth areas such as digital services, the Internet of Things ('IoT) and financial services that leverage and complement our core connectivity business.
Notes:
1. Market capitalisation at 31 March 2022.
2. Group including VodafoneZiggo and Safaricom.
3. Group including Safaricom.
4. Africa including 100% Safaricom.
How we govern
Our business model is underpinned by our strong governance and risk management framework.
How we measure success
We track a range of measures that reflect our financial, operational and strategic progress and performance.
Governance
The Board held seven scheduled meetings this year to discuss key strategic matters, our purpose and culture, our people and stakeholder interests.
The Nominations and Governance Committee evaluates the composition and performance of the Board and ensures an appropriate balance of independence, skills, knowledge, experience and diversity.
The Audit and Risk Committee provides effective governance over the appropriateness of financial reporting of the Group, including the adequacy of related disclosures, the performance of the internal audit function and the external auditor and oversight of the Group’s systems of internal control, risk management framework and compliance activities.
The Remuneration Committee advises the Board on policies for executive remuneration and reward packages for individual Executive Directors.
The Committee also oversees general pay practices across the Group.
The Environmental, Social and Governance (‘ESG’) Committee oversees our ESG programme, including our purpose pillars, sustainability and responsible business practices, and our contribution to the societies we operate in under our social contract.
Risk management
Risks are not static and as the environment changes, so do risks - some diminish or increase, while new risks appear. We continuously review and improve our risk processes in order to ensure that the Company has the appropriate level of support in meeting its strategic objectives.
Our risk framework clearly defines roles and responsibilities, and sets out a consistent end-to-end process for identifying and managing risks. We have embedded the risk framework across the Group as this allows us to take a holistic approach and to make meaningful comparisons. Our approach is continuously enhanced, enabling more dynamic risk detection, modelling of risk interconnectedness and the use of data, all of which are improving our risk visibility and our responses.
Our Board oversees principal and emerging risks, which are reported to the various management committees and the Board throughout the year. Additionally, risk owners are invited to present in-depth reviews to ensure that risks are managed within the defined tolerance levels.
Financial targets
The Group provides guidance on Adjusted EBITDAaL1 and Adjusted free cash flow1.
Senior management incentive plans include the following measures: organic service revenue; adjusted EBIT; adjusted free cash flow; customer appreciation metrics; relative total shareholder return; and ESG measures.
Return on capital employed ('ROCE’)
This is a key focus for the Group and reflects how efficiently we are generating profit with the capital we deploy. Our goal is for ROCE to exceed our cost of capital through consistent revenue growth, ongoing margin expansion, strong cash flow conversion, and disciplined allocation of capital.
Operational metrics
We have a number of commercial metrics that are used to...
Um weiterzulesen
FORDERN SIE IHR PROBEABO AN