Vodafone Announces Results for the Year Ended 31 March 2009

Key highlights⁽¹⁾:

• Group revenue £41.0 billion, up 15.6%; pro forma up 1.3% excluding foreign exchange
• Europe revenue up 13.6%; outgoing voice usage up 9.4%
• Africa and Central Europe revenue growth 11.2%
• Asia Pacific and Middle East revenue growth 32.3%, driven by India
• Group data revenue up 43.7% to £3.0 billion
• Group adjusted operating profit up 16.7% to £11.8 billion before impairment charges
• Group EBITDA up 10.0% to £14.5 billion
• Verizon Wireless profit up 44.7%; Alltel acquisition creates largest US wireless operator
• Impairment charges increased to £5.9 billion, primarily in respect of Spain
• Free cash flow(2) £5.7 billion up 2.5%
• Adjusted earnings per share up 37.4% to 17.17 pence; basic earnings per share 5.84 pence after impairment charges
• Final dividend per share of 5.20 pence; total dividends per share up 3.5% to 7.77 pence
• £1 billion cost reduction programme accelerated; over 65% expected to be achieved in the 2010 financial year
• Proportionate mobile customer base of 303 million at 31 March 2009

Outlook for the 2010 financial year:

• Free cash flow⁽²⁾in the range of £6.0 billion to £6.5 billion
• Adjusted operating profit in the range of £11.0 billion to £11.8 billion
• Challenging environment; recent revenue trends assumed to continue
• EBITDA margin expected to decline at a slightly slower rate
• Depreciation and amortisation around £8.5 billion, reflecting India, Vodacom and foreign exchange
• Capital expenditure similar to the 2009 financial year after adjusting for foreign exchange

Vittorio Colao, Chief Executive, commented:

These results demonstrate the impact of the early actions we took to address the current economic conditions and highlight the benefits of our geographic diversity. The business continues to generate cash strongly and we have made good progress in implementing the strategy announced in November. Data revenue grew to £3 billion for the year and our broadband and enterprise businesses continue to perform well. Our £1 billion cost reduction programme is ahead of plan and we continue to explore further ways to reduce cost. We maintain our tight focus on capital discipline and returns to shareholders.

(1)See page 5 for Group financial highlights, page 28 for use of non-GAAP financial information and page 39 for definition of terms.

(2)Before licence and spectrum payments.

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For further information:

Vodafone Group Plc

Investor Relations

Telephone: +44 (0)1635 664447
Facsimile: +44 (0)1635 682890

Media Relations

Telephone: +44 (0) 1635 664444
Facsimile: +44 (0) 1635 686007