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1. Where we only have data for our South African operation (which represents 77.3% of service revenue and 91.4% of EBIT), we indicate this with (#).
2. We’ve used (*) to indicate normalised growth which presents performance on a comparable basis. This excludes merger and acquisition activity
and adjusting for trading foreign exchange and foreign currency fluctuations on a constant currency basis (using the current year as base).
To our investors
and other
interested
stakeholders
If you’re interested in Vodacom’s
ability to generate sustained
financial returns, if you wish to
assess how we’ve performed in
the past year and to understand
what our strategic plans are for
long-term growth and value
creation, then this report is
for you.
We know that many investors and analysts don’t
merely rely on a company’s financial statements to
make their assessment of the company’s current and
future performance. While the financials are critically
important, we would suggest that you read this
report together with the financials to make an
informed assessment of a company’s capacity to
deliver long-term growth.
To appreciate Vodacom’s ability to generate
long-term value, it is important not only to look back
at our past performance, but also to look forward – to
reflect on how we see the future operating context,
and to assess how we are positioning the Company
to ensure its success in a rapidly changing business
environment. Recognising that our ability to deliver
value is ultimately dependent on the quality of our
relationships, and on the health of the societies and
economies in which we operate, it is also essential
to understand how we are managing these
relationships, and what we are doing to deliver social
value. This Integrated report seeks to answer these
questions by providing the information needed to
make an informed assessment of our ability to create
value over time.
Prepared in accordance with the IIRC’s International
<IR> Framework, our Integrated report provides a
concise, material and frank assessment of our
strategic path for achieving strong financial
performance and for delivering on our core purpose:
connecting everybody to live a better today and
build a better tomorrow. This report describes our
business model, identifies those issues that have
a material impact on how we create value, assesses
our performance (our achievements and
disappointments) over the past year, and describes
our strategic framework for long-term growth,
reviewing how we propose to deliver financial
and societal value in an increasingly dynamic
business sector.
As a Board, we have applied our collective mind to
the preparation and presentation of the information
in this report. We believe that the report addresses
all material matters, and presents a balanced and
fair account of the Group’s performance for the
financial year 1 April 2017 to 31 March 2018, as well
as an accurate reflection of our core strategic
commitments for the short, medium and long term.
We have applied our judgement regarding the
disclosure of Vodacom’s strategic plans, and have
ensured that these disclosures do not place
Vodacom at a competitive disadvantage. On the
recommendation of the Audit, Risk and Compliance
Committee, the Board approved the Integrated
report and the consolidated annual financial
statements on 1 June 2018.
We encourage our stakeholders to read this report
and to share any feedback on our disclosure, our
performance and our strategic roadmap for
delivering value.
Jabu Moleketi
Shameel Joosub
Vivek Badrinath
David Brown
Michael Joseph
Priscillah Mabelane
Saki Macozoma
Thoko Mokgosi-Mwantembe
John Otty
Marten Pieters
Ronald Schellekens
Till Streichert