London Stock Exchange FTSE 100 Index

Annual Report Income Statement Balance Sheet

Income Statement (£m) Gross Revenue 38,346 - Cost of Sales - 27,942 Gross Profit 10,404 - Operating Expenses - 14,317 Operating Loss(3,913) - Financing Costs - 1,357 Loss Before Taxation(5,270) + Income Tax Credit+ 16,582 Profit for the financial year11,312

Income Tax Credit Annual Report Vodafone 2014: Income tax expense We recorded an income tax credit on continuing operations of £16.6 billion compared with a £0.5 billion charge in The credit primarily arises from the recognition of £19.3 billion of deferred tax assets for tax losses in Germany and Luxembourg partly offset by taxes arising from the disposal of the Group’s investment in Verizon Wireless

Balance Sheet AssetsEquity and Liabilities Non-Current Assets 97,118Total Equity 71,781 Current Liabilities 25,039 Current Assets 24,722Non-current liabilities 25,020 Total Liabilities 50,059 Total Assets 121,840Total equity and liabilities 121,840

Financial Ratios Quick Ratio = Acid Test = 0.76 (rather low) Current Ratio = 0.99 (OK) Equity Ratio = 58% Gearing = 71%

Summary Operational Loss to be extinguished Economic situation for the moment ok.