Vodacom Group Limited interim results for the six months ended 30 September 2021 (short form announcement)
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/005461/06)
ISIN: ZAE000132577 Share code: VOD
ISIN: US92858D2009 ADR code: VDMCY
(Vodacom) Vodacom Group Limited interim results for the six months ended 30 September 2021 (short form
announcement)
Highlights
• Group revenue of R49.9 billion was up 4.2%, as strong normalised growth of 7.9%* was partially offset by rand
appreciation.
• Normalised Group service revenue and Group operating profit growth of 5.4%* and 5.7%* respectively, is in line with our
medium-term targets.
• Net profit from associate and joint ventures declined 36.1% (+11.9%*) to R1.6 billion, negatively impacted by an R805
million one-off deferred tax rate adjustment in the prior period and foreign exchange translation headwinds.
• Added 6.2 million customers, to serve a combined 129.9 million customers across the Group, including Safaricom on a
100% basis.
• Our M-Pesa platform, including Safaricom, processed US$301.9 billion in transaction value over the last twelve months,
with transaction value up 31.2% in the second quarter.
• Headline earnings per share declined 5.1%, but when adjusted for the one-off deferred tax rate adjustment in the prior period, grew 3.0%. • Interim dividend of 420cps up 1.2%. • Announced two material M&A transactions to accelerate our growth and returns profile.Group statutory performance measures2 Six months ended 30 September % change Rm 2021 2020 Reported Normalised* Revenue 49 856 47 844 4.2 7.9 Service revenue 38 915 38 515 1.0 5.4 Net profit from associate and joint ventures1 1 644 2 571 (36.1) 11.9 Operating profit1 14 058 14 465 (2.8) 5.7 Net profit 8 873 9 271 (4.3) Earnings per share (cents) 504 533 (5.4) Headline earnings per share (cents) 505 532 (5.1) Interim dividend per share (cents) 420 415 1.2 Group alternative performance measures Six months ended 30 September % change Rm 2021 2020 Reported Normalised* EBITDA 20 076 19 433 3.3 5.7 EBITDA margin (%)2 40.3 40.6 (0.3ppt)Notes: 1. In the prior year, net profit from associate and joint ventures and operating profit was impacted by a positive one-off deferred tax rate adjustment of R805 million. The adjustment related to the decrease of the corporate tax rate in Kenya, which fell from 30% to 25%. At a net income level, and after the impact of non-controlling interests, the adjustment was R705 million. 2. EBITDA […]
