Vodafone Group Public Limited (VOD) 6-K 19 Nov 20 2021 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Sep. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	VODAFONE GROUP PUBLIC LTD CO
Entity Central Index Key	0000839923
Document Type	6-K
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

Consolidated income statement

Consolidated income statement - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Consolidated income statement
Revenue	€ 21,427	€ 21,939
Cost of sales	(14,657)	(15,010)
Gross profit	6,770	6,929
Selling and distribution expenses	(1,675)	(1,883)
Administrative expenses	(2,560)	(2,590)
Net credit losses on financial assets	(378)	(302)
Share of results of equity accounted associates and joint ventures	260	(2,601)
Other income	1,055	1,024
Operating profit	3,472	577
Investment income	183	281
Financing costs	(1,610)	(1,369)
Profit/(loss) before taxation	2,045	(511)
Income tax expense	(490)	(1,380)
Profit/(loss) for the financial period	1,555	(1,891)
Profit/(loss) for the financial period	1,555	(1,891)
Attributable to:
Owners of the parent	1,314	(2,128)
Non-controlling interests	241	237
Profit/(loss) for the financial period	€ 1,555	€ (1,891)
Profit/(loss) per share
Basic - Total Group (in eurocents per share)	€ 4.45	€ (7.24)
Diluted - Total Group (in eurocents per share)	€ 4.44	€ (7.24)

Consolidated statement of compr

Consolidated statement of comprehensive income/expense - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Consolidated statement of comprehensive income/expense
Profit/(loss) for the financial period	€ 1,555	€ (1,891)
Items that may be reclassified to the income statement in subsequent periods:
Foreign exchange translation differences, net of tax	(770)	(222)
Foreign exchange translation differences transferred to the income statement	(77)	(59)
Other, net of tax	(2,058)	(302)
Total items that may be reclassified to the income statement in subsequent periods	(2,905)	(583)
Items that will not be reclassified to the income statement in subsequent periods:
Net actuarial losses on defined benefit pension schemes, net of tax	(383)	(65)
Total items that will not be reclassified to the income statement in subsequent periods	(383)	(65)
Other comprehensive expense	(3,288)	(648)
Total comprehensive expense for the financial Period	(1,733)	(2,539)
Attributable to:
Owners of the parent	(1,905)	(2,809)
Non-controlling interests	172	270
Total comprehensive expense for the financial Period	€ (1,733)	€ (2,539)

Consolidated statement of finan

Consolidated statement of financial position - EUR (€) € in Millions	Sep. 30, 2020	Mar. 31, 2020
Non-current assets
Goodwill	€ 31,251	€ 31,271
Other intangible assets	20,996	22,252
Plant, property and equipment	38,059	39,197
Investments in associates and joint ventures	5,428	5,831
Other investments	899	792
Deferred tax assets	23,990	23,606
Post employment benefits	198	590
Trade and other receivables	6,574	10,378
Total non-current assets	127,395	133,917
Current assets
Inventory	606	585
Taxation recoverable	300	275
Trade and other receivables	10,457	11,411
Other investments	9,180	7,089
Cash and cash equivalents	6,612	13,284
Total current assets	27,155	32,644
Assets held for sale	2,312	1,607
Total assets	156,862	168,168
Equity
Called up share capital	4,797	4,797
Additional paid-in capital	152,694	152,629
Treasury shares	(7,720)	(7,802)
Accumulated losses	(120,331)	(120,349)
Accumulated other comprehensive income	28,916	32,135
Total attributable to owners of the parent	58,356	61,410
Non-controlling interests	1,224	1,215
Total equity	59,580	62,625
Non-current liabilities
Long-term borrowings	61,292	62,892
Deferred tax liabilities	1,986	2,043
Post employment benefits	427	438
Provisions	1,550	1,474
Trade and other payables	5,734	5,189
Total non-current liabilities	70,989	72,036
Current liabilities
Short-term borrowings	7,530	11,826
Financial liabilities under put option arrangements	1,886	1,850
Taxation liabilities	578	671
Provisions	951	1,024
Trade and other payables	14,380	17,085
Total current liabilities	25,325	32,456
Liabilities held for sale	968	1,051
Total equity and liabilities	€ 156,862	€ 168,168

Consolidated statement of chang

Consolidated statement of changes in equity - EUR (€) € in Millions	Equity attributable to the owners	Share capital	Additional paid-in capital.	Treasury shares.	Accumulated comprehensive losses	Non-controlling interests.	Total
Beginning balance at Mar. 31, 2019	€ 61,957	€ 4,796	€ 152,503	€ (7,875)	€ (87,467)	€ 1,231	€ 63,188
Issue or reissue of shares	5	1	1	66	(63)		5
Share-based payments	72		72				72
Transactions with non-controlling interests in subsidiaries	(48)				(48)	(94)	(142)
Comprehensive (expense)/income	(2,809)				(2,809)	270	(2,539)
Dividends	(1,112)				(1,112)	(187)	(1,299)
Ending balance at Sep. 30, 2019	58,065	4,797	152,576	(7,809)	(91,499)	1,220	59,285
Beginning balance at Mar. 31, 2020	61,410	4,797	152,629	(7,802)	(88,214)	1,215	62,625
Issue or reissue of shares	3		1	82	(80)		3
Share-based payments	64		64			4	68
Transactions with non-controlling interests in subsidiaries	(11)				(11)	(5)	(16)
Comprehensive (expense)/income	(1,905)				(1,905)	172	(1,733)
Dividends	(1,205)				(1,205)	(162)	(1,367)
Ending balance at Sep. 30, 2020	€ 58,356	€ 4,797	€ 152,694	€ (7,720)	€ (91,415)	€ 1,224	€ 59,580

Consolidated statement of cash

Consolidated statement of cash flows - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Consolidated statement of cash flows
Inflow from operating activities	€ 6,009	€ 6,139
Cash flows from investing activities
Purchase of interests in subsidiaries, net of cash acquired	(136)	(10,202)
Purchase of interests in associates and joint ventures		(1,413)
Purchase of intangible assets	(1,092)	(1,002)
Purchase of property, plant and equipment	(2,771)	(2,769)
Purchase of investments	(3,153)	(239)
Disposal of interests in subsidiaries, net of cash disposed	174	2,049
Disposal of interests in associates and joint ventures	420
Disposal of property, plant and equipment and intangible assets	6	21
Disposal of investments	1,031	6,043
Dividends received from associates and joint ventures	355	63
Interest received	153	183
Outflow from investing activities	(5,013)	(7,266)
Cash flows from financing activities
Issue of ordinary share capital and reissue of treasury shares	3
Net movement in short-term borrowings	(2,717)	815
Proceeds from issue of long term borrowings	2,125	9,107
Repayment of borrowings	(4,330)	(13,277)
Purchase of treasury shares		(821)
Equity dividends paid	(1,209)	(1,092)
Dividends paid to non-controlling shareholders in subsidiaries	(166)	(169)
Other transactions with non-controlling shareholders in subsidiaries	(20)	(233)
Other movements in loans with associates and joint ventures	38
Interest paid	(774)	(1,130)
Outflow from financing activities	(7,050)	(6,800)
Net cash outflow	(6,054)	(7,927)
Cash and cash equivalents at beginning of the financial period	13,288	13,605
Exchange (loss)/gain on cash and cash equivalents	(365)	49
Cash and cash equivalents at end of the financial period	€ 6,869	€ 5,727

Consolidated statement of cas_2

Consolidated statement of cash flows (Parenthetical) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Consolidated statement of cash flows
Cash outflow on derivative financial instruments	€ 0	€ 273
Cash and cash equivalents	6,612		€ 13,284
Cash and cash equivalents presented in assets held for sale	274		273
Bank overdrafts	€ 17		€ 269

Basis of preparation

Basis of preparation	6 Months Ended
	Sep. 30, 2020
Basis of preparation
Basis of preparation	1 Basis of preparation The unaudited condensed consolidated financial statements for the six months ended 30 September 2020: · are prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (‘IAS 34’) as issued by the International Accounting Standards Board and as adopted by the European Union; · are presented on a condensed basis as permitted by IAS 34 and therefore do not include all disclosures that would otherwise be required in a full set of financial statements and should be read in conjunction with the Group’s annual report for the year ended 31 March 2020; · apply the same accounting policies, presentation and methods of calculation as those followed in the preparation of the Group’s consolidated financial statements for the year ended 31 March 2020, which were prepared in accordance with International Financial Reporting Standards (‘IFRS’) as issued by the International Accounting Standards Board and were also prepared in accordance with IFRS adopted by the European Union (‘EU’), the Companies Act 2006 and Article 4 of the EU IAS Regulations. Income taxes are accrued using the tax rate that is expected to be applicable for the full financial year, adjusted for certain discrete items which occurred in the interim period in accordance with IAS 34. · include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the periods presented; · do not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006; and · were approved by the Board of directors on 16 November 2020. The information relating to the year ended 31 March 2020 is an extract from the Group’s published annual report for that year, which has been delivered to the Registrar of Companies, and on which the auditors’ report was unqualified and did not contain any emphasis of matter or statements under section 498(2) or 498(3) of the UK Companies Act 2006. The preparation of the unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the end of the reporting period, and the reported amounts of revenue and expenses during the period. Actual results could vary from these estimates. These estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Considerations in respect of COVID-19 Going concern As outlined on page 3, trading in the first half of the year demonstrates the relative resilience of the Group’s operating model and the Group has a strong liquidity position with €6.6 billion of cash and cash equivalents available at 30 September 2020 and the Group has access to committed facilities that cover all of the Group’s reasonably expected cash requirements over the going concern period. The Directors have reviewed trading and liquidity forecasts for the Group which have been updated for the expected impact of COVID-19. The forecasts considered a variety of scenarios including not being able to access the capital markets during the assessment period. In addition to the liquidity forecasts prepared, the Directors considered the availability of the Group’s revolving credit facilities which were undrawn as at 30 September 2020. As a result of the assessment performed, the Directors have concluded that the Group is able to continue in operation for the period up to and including March 2022 and that it is appropriate to continue to adopt a going concern basis in preparing the unaudited condensed consolidated financial statements. Critical accounting judgements and estimates The Group’s critical accounting judgements and estimates were disclosed in the Group’s annual report for the year ended 31 March 2020. The forecast impact of COVID-19 was factored into certain of our judgements, primarily impairment testing. These judgements and estimates were reassessed during the six months ended 30 September 2020 and the Group’s latest outlook and best estimate of the COVID-19 impact are considered in our impairment review. New accounting pronouncements adopted On 1 April 2020, the Group adopted certain new accounting policies where necessary to comply with amendments to IFRS, none of which had a material impact on the consolidated results, financial position or cash flows of the Group. Further details are provided in the Group’s annual report for the year ended 31 March 2020.

Segmental analysis

Segmental analysis	6 Months Ended
	Sep. 30, 2020
Segmental analysis
Segmental analysis	2 Segmental analysis The Group has a single group of related services and products being the supply of communications services and products. Revenue is attributed to a country or region based on the location of the Group company reporting the revenue. In the prior financial period, the Group reported the financial results of Vodacom and Other Markets under the Rest of the World (‘RoW’) region. To reflect changes in internal responsibilities, the RoW reporting segment no longer applies and Vodacom and Other Markets are separate reporting segments. The Group’s revenue and profit is disaggregated as follows: Revenue from contracts Total Service Equipment with Interest segment Adjusted revenue revenue customers revenue Other 1 revenue EBITDA €m €m €m €m €m €m €m Six months ended 30 September 2020 Germany 5,723 466 6,189 6 176 6,371 2,844 Italy 2,249 216 2,465 5 36 2,506 800 UK 2,401 509 2,910 24 49 2,983 636 Spain 1,880 132 2,012 8 30 2,050 488 Other Europe 2,411 252 2,663 9 48 2,720 870 Eliminations (47) — (47) — — (47) — Europe 14,617 1,575 16,192 52 339 16,583 5,638 Vodacom 1,949 335 2,284 7 132 2,423 891 Other Markets 1,679 212 1,891 — 7 1,898 613 Common Functions 219 13 232 — 424 656 (119) Eliminations (46) — (46) — (87) (133) — Group 18,418 2,135 20,553 59 815 21,427 7,023 Revenue from contracts Total Service Equipment with Interest segment Adjusted revenue revenue customers revenue Other 1 revenue EBITDA €m €m €m €m €m €m €m Six months ended 30 September 2019 Germany 4,961 495 5,456 14 120 5,590 2,352 Italy 2,424 256 2,680 4 25 2,709 1,006 UK 2,451 598 3,049 34 68 3,151 658 Spain 1,966 157 2,123 13 25 2,161 460 Other Europe 2,392 253 2,645 9 36 2,690 872 Eliminations (74) — (74) — (2) (76) — Europe 14,120 1,759 15,879 74 272 16,225 5,348 Vodacom 2,217 416 2,633 2 99 2,734 1,019 Other Markets 2,024 299 2,323 2 26 2,351 755 Common Functions 240 24 264 — 523 787 (17) Eliminations (57) — (57) — (101) (158) — Group 18,544 2,498 21,042 78 819 21,939 7,105 Note: 1. Other includes lease revenue. The Group’s measure of segment profit is adjusted EBITDA which is reported after depreciation on lease-related right of use assets and interest on leases but excluding depreciation and amortisation, gains/losses on disposal for owned fixed assets, impairment losses, restructuring costs arising from discrete restructuring plans, the Group’s share of adjusted results in associates and joint ventures and other income and expense. A reconciliation of adjusted EBITDA to operating profit is shown below. For a reconciliation of operating profit to profit for the financial period, see the consolidated income statement on page 42. Six months ended 30 September 2020 2019 €m €m Adjusted EBITDA 7,023 7,105 Depreciation and amortisation (4,729) (4,874) Share of adjusted results in equity accounted associates and joint ventures 1 255 (550) Adjusted operating profit 2,549 1,681 Restructuring costs (86) (163) Amortisation of acquired customer bases and brand intangible assets (364) (232) Other income and expense 2 1,184 (872) Interest on lease liabilities 189 163 Operating profit 3,472 577 Notes: 1. Share of results of equity accounted associates and joint ventures presented within the Consolidated income statement includes €255 million (2019: -€550 million) included within Adjusted operating profit, €nil (2019: -€33 million) included within Restructuring costs, -€124 million (2019: -€122 million) included within Amortisation of acquired customer base and brand intangible assets and €129 million (2019: -€1,896 million; principally related to Vodafone Idea Limited) included within other income and expense. 2. For the six months ended 30 September 2020, the Group recorded a gain of €1,043 million in relation to the merger of Vodafone Hutchison Australia Pty Limited and TPG Telecom Limited which is reported in Other income and expense. See Note 9 ‘Investment in associates and joint ventures’. For the six months ended 30 September 2019, the Group recorded a gain of €1,078 million in relation to the disposal of Vodafone New Zealand, offset by losses incurred in Vodafone Idea Limited The Group’s non-current assets are disaggregated as follows: 30 September 31 March 2020 2020 €m €m Non-current assets 1 Germany 47,504 48,266 Italy 10,787 11,119 UK 7,215 7,790 Spain 7,051 7,229 Other Europe 9,060 9,138 Europe 81,617 83,542 Vodacom 5,270 5,400 Other Markets 1,309 1,561 Common Functions 2,110 2,217 Group 90,306 92,720 Note: 1. Includes goodwill, other intangible assets and property, plant and equipment (including right-of-use assets).

Impairment review

Impairment review	6 Months Ended
	Sep. 30, 2020
Impairment review
Impairment review	3 Impairment review A review for indicators of potential impairment was performed at 30 September 2020 and 30 September 2019. The methodology adopted for impairment reviews was consistent with that disclosed on page 149 and pages 159 to 165 of the Group’s annual report for the year ended 31 March 2020. Management continues to review the impact of COVID-19. Following analysis of recent business performance and certain changes in expectations on future impacts, management has made additional adjustments to the five-year business plans used in the Group’s impairment testing. The impairment review is based on expected cash flows after applying these adjustments. Impairment testing requires the assessment of the recoverable amount being the higher of an asset's or cash-generating unit's fair value less costs of disposal and its value in use. A lack of observable market data on fair values for equivalent assets means that the Group’s valuation approach for impairment testing focuses primarily on value in use. For a number of reasons, transaction values agreed as part of any business acquisition or disposal may be higher than the assessed value in use. Consistent with prior periods, assets are grouped at the lowest levels for which there are separately identifiable cash flows, known as cash-generating units. Following the merger of Vodafone’s passive tower infrastructure in Italy with INWIT, management considers Vodafone Italy and Vodafone’s stake in INWIT to represent two cash-generating units for the purpose of the impairment review as at 30 September 2020. The key assumptions and sensitivity analysis for Vodafone Italy presented below are prepared on a post-merger basis. Value in use assumptions The table below shows key assumptions used in the value in use calculations at 30 September 2020: Assumptions used in value in use calculation Germany Italy Spain Ireland Romania % % % % % Pre-tax risk adjusted discount rate 7.3 10.8 9.3 7.7 10.1 Long-term growth rate 0.5 0.5 0.5 0.5 1.0 Projected adjusted EBITDA 1 3.8 2.5 8.2 0.9 8.0 Projected capital expenditure 2 20.0 - 20.7 12.2 - 14.9 16.2 - 18.7 13.2 - 15.7 13.7 - 16.6 Sensitivity analysis The estimated recoverable amounts of the Group’s operations in Germany, Italy, Spain, Ireland and Romania exceed their carrying values by €7.1 billion, €1.0 billion, €0.2 billion, €0.1 billion and €0.1 billion, respectively. If the assumptions used in the impairment review were changed to a greater extent than as presented in the following table, the changes would, in isolation, lead to an impairment loss being recognised for the six months ended 30 September 2020. Change required for carrying value to equal recoverable amount Germany Italy Spain Ireland Romania pps pps pps pps pps Pre-tax risk adjusted discount rate 1.1 1.2 0.3 0.3 0.4 Long-term growth rate (1.1) (1.2) (0.3) (0.3) (0.6) Projected adjusted EBITDA 1 (3.3) (1.9) (0.7) (0.6) (1.1) Projected capital expenditure 2 13.5 4.9 1.4 1.7 1.5 Notes: 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. 2. Projected capital expenditure, which excludes licences and spectrum, is expressed as the range of capital expenditure as a percentage of revenue in the initial five years for all cash-generating units of the plans used for impairment review. Management considered the following reasonably possible changes in the key adjusted EBITDA 1 and long-term growth rate assumptions, leaving all other assumptions unchanged. Due to increased uncertainty following the COVID-19 outbreak, management’s range of reasonably possible changes in the key adjusted EBITDA growth rate assumption is plus or minus 5 percentage points. The sensitivity analysis presented is prepared on the basis that the reasonably possible change in each key assumption would not have a consequential impact on other assumptions used in the impairment review. The associated impact on the impairment assessment is presented in the table below. Management believes that no reasonably possible or foreseeable change in the pre-tax adjusted discount rate or projected capital expenditure 2 would cause the difference between the carrying value and recoverable amount for any cash-generating unit to be materially different to the base case disclosed below. Recoverable amount less carrying value Germany Italy Spain Ireland Romania €bn €bn €bn €bn €bn Base case as at 30 September 2020 7.1 1.0 0.2 0.1 0.1 Change in projected adjusted EBITDA1 Decrease by 5pps (3.3) (1.5) (1.3) (0.4) (0.2) Increase by 5pps 19.4 4.0 2.0 0.7 0.3 Change in long-term growth rate Decrease by 1pps 0.4 0.2 (0.4) (0.1) — Increase by 1pps 16.8 2.1 1.1 0.3 0.2 Note: 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. The carrying values for Vodafone UK, Portugal, Czech Republic and Hungary include goodwill arising from acquisitions and/or the purchase of operating licences or spectrum rights. The recoverable amounts for these operating companies are also not materially greater than their carrying values and accordingly are disclosed below. If the assumptions used in the impairment review were changed to a greater extent than as presented in the following table, the changes would, in isolation, lead to an impairment loss being recognized in the period ended 30 September 2020. Change required for carrying value to equal recoverable amount UK Portugal Czech Republic Hungary pps pps pps pps Pre-tax risk adjusted discount rate 0.5 1.3 1.6 1.2 Long-term growth rate (0.5) (1.3) (1.6) (1.4) Projected adjusted EBITDA 1 (1.0) (2.8) (3.6) (2.5) Projected capital expenditure 2 2.2 6.1 12.7 6.8 Notes: 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. 2. Projected capital expenditure, which excludes licences and spectrum, is expressed as capital expenditure as a percentage of revenue in the initial five years for all cash-generating units of the plans used for impairment review.

Taxation

Taxation	6 Months Ended
	Sep. 30, 2020
Taxation
Taxation	4 Taxation Six months ended 30 September 2020 2019 €m €m United Kingdom corporation tax (expense)/income 1 Current period (17) (14) Adjustments in respect of prior periods 4 (10) Overseas current tax (expense)/income Current period (470) (474) Adjustments in respect of prior periods 93 14 Total current tax expense (390) (484) Deferred tax on origination and reversal of temporary differences United Kingdom deferred tax 83 144 Overseas deferred tax (183) (1,040) Total deferred tax expense (100) (896) Total income tax expense (490) (1,380) Note: 1. UK operating profits are more than offset by statutory allowances for capital investment in the UK network and systems plus ongoing interest costs including those arising from the €10.7 billion of spectrum payments to the UK government in 2000, 2013 and 2018. The six months ended 30 September 2020 includes deferred tax on the use of Luxembourg losses of €188 million (2019: €200 million). The Group expects to use its losses in Luxembourg over a period of between 40 and 45 years and the losses in Germany over a period of between 9 and 16 years. The actual use of these losses and the period over which they may be used is dependent on many factors which may change. These factors include the level of profitability in both Luxembourg and Germany, changes in tax law and changes to the structure of the Group. Further details about the Group’s tax losses can be found in note 6 of the Group’s consolidated financial statements for the year ended 31 March 2020. Overseas deferred tax expense for the six months ended 30 September 2019 includes a reduction in our deferred tax assets in Luxembourg of €868 million following a reduction in the Luxembourg corporate tax rate.

Assets and liabilities held for

Assets and liabilities held for sale	6 Months Ended
	Sep. 30, 2020
Assets and liabilities held for sale
Assets and liabilities held for sale	5 Assets and liabilities held for sale Assets and liabilities held for sale at 30 September 2020 comprise: § The Group’s 55% interest in Vodafone Egypt. On 29 January 2020, the Group signed a Memorandum of Understanding (‘MoU’) with Saudi Telecom Company (‘stc’) for the potential sale of Vodafone Egypt. Despite the expiry of the MoU, Vodafone expects to finalise the transaction in the near future; and § A 13.8% interest from our 42.0% stake in Indus Towers. Further details are provided in Note 13. Assets and liabilities held for sale at 31 March 2020 comprised: (i) a 24.95% interest in Vodafone Hutchison Australia; and (ii) the Group’s 55% interest in Vodafone Egypt. The relevant assets and liabilities are detailed in the table below. 30 September 31 March 2020 2020 €m €m Non-current assets Goodwill 100 107 Other intangible assets 367 379 Property, plant and equipment 969 916 Investments in associates and joint ventures 299 (412) Trade and other receivables 12 15 1,747 1,005 Current assets Inventory Taxation recoverable Trade and other receivables Cash and cash equivalents Total assets held for sale Non-current liabilities Long-term borrowings Deferred tax liabilities Provisions Current liabilities Short-term borrowings Taxation liabilities Provisions Trade and other payables Total liabilities held for sale

Earnings per share

Earnings per share	6 Months Ended
	Sep. 30, 2020
Earnings per share
Earnings per share	6 Earnings per share Six months ended 30 September 2020 2019 Millions Millions Weighted average number of shares for basic earnings per share 29,535 29,410 Effect of dilutive potential shares: restricted shares and share options 75 — Weighted average number of shares for diluted earnings per share 29,610 29,410 Earnings per share attributable to owners of the parent during the period Six months ended 30 September 2020 2019 €m €m Profit/(loss) for basic and diluted earnings per share 1,314 (2,128) eurocents eurocents Basic profit/(loss) per share 4.45 (7.24) Diluted profit/(loss) per share 4.44 (7.24)

Equity dividends

Equity dividends	6 Months Ended
	Sep. 30, 2020
Equity dividends
Equity dividends	7 Equity dividends Six months ended 30 September 2020 2019 €m €m Declared during the financial period: Final dividend for the year ended 31 March 2020: 4.50 eurocents per share (2019: 4.16 eurocents per share) 1,205 1,112 Proposed after the end of the reporting period and not recognised as a liability: Interim dividend for the year ending 31 March 2021: 4.50 eurocents per share (2020: 4.50 eurocents per share) 1,207 1,205

Investment in subsidiaries

Investment in subsidiaries	6 Months Ended
	Sep. 30, 2020
Investment in subsidiaries
Investment in subsidiaries	8 Investment in subsidiaries This note provides details of the acquisitions and disposals during the period as well as those in the prior period. Acquisitions The aggregate cash consideration in respect of purchases in subsidiaries, net of cash acquired, is as follows: Six months ended 30 September 2020 2019 €m €m Cash consideration paid Other acquisitions 136 29 European Liberty Global assets — 10,295 Net cash acquired — (122) 136 10,202 Other acquisitions In the current period, the Group paid €136 million in respect of acquisitions completed in prior periods. During the six months ended 30 September 2019, the Group completed certain acquisitions for an aggregate consideration of €185 million, of which €29 million was paid in cash in that period. The aggregate fair values of goodwill, identifiable assets and liabilities of the acquired operations were €182 million, €50 million and €47 million, respectively. Acquisition of European Liberty Global assets In the comparative period, on 31 July 2019, the Group completed the acquisition of a 100% interest in Unitymedia GmBH (‘Unitymedia’) and Liberty Global’s operations (excluding its ‘Direct Home’ business) in the Czech Republic (‘UPC Czech’), Hungary (‘UPC Hungary’) and Romania (‘UPC Romania’) for an aggregate net cash consideration of €10,295 million. The primary reason for acquiring the business was to create a converged national provider of digital infrastructure in Germany, together with creating converged communications operators in the Czech Republic, Hungary and Romania. The purchase price allocation is set out in the table below. 31 March 2020 Fair value €m Net assets acquired Identifiable intangible assets 1 5,818 Property, plant and equipment 2 4,737 Inventory 2 Trade and other receivables 856 Other investments 2 Cash and cash equivalents 109 Current and deferred taxation (1,904) Short and long-term borrowings (9,527) Trade and other payables (1,066) Post employment benefits (40) Provisions (178) Net identifiable liabilities acquired (1,191) Goodwill 3 11,504 Total consideration 4 10,313 Notes: 1. Identifiable intangible assets of €5,818 million consisted of customer relationships of €5,569 million, brand of €71 million and software of €178 million. 2. Includes Right-of-use assets. 3. The goodwill is attributable to future profits expected to be generated from new customers and the synergies expected to arise after the Group’s acquisition of the businesses. 4. Transaction costs of €58 million were charged in the Group’s consolidated income statement in the six months ended 30 September 2019. From the date of acquisition to 30 September 2019,the acquired entities contributed €491 million of revenue and a loss of €11 million towards the loss before tax of the Group. If the acquisition had taken place at the beginning of the prior financial period, revenue would have been €22,940 million and the loss before tax would have been €481 million in the comparative period. Disposals The difference between the carrying value of the net assets disposed of and the fair value of consideration received is recorded as a gain or loss on disposal. Foreign exchange translation gains or losses relating to subsidiaries that the Group has disposed of, and that have previously been recorded in other comprehensive income or expense, are also recognised as part of the gain or loss on disposal. Vodafone New Zealand In the comparative period, on 31 July 2019, the Group sold its 100% interest in Vodafone New Zealand Limited (‘Vodafone New Zealand’) for consideration of NZD $3.4 billion (€2.0 billion). The table below summarises the net assets disposed and the resulting net gain on disposal of €1.1 billion. 31 March 2020 €m Goodwill (243) Other intangible assets (155) Property, plant and equipment 1 (783) Inventory (29) Trade and other receivables (244) Investments in associates and joint ventures (4) Current and deferred taxation (11) Short and long-term borrowings 215 Trade and other payables 261 Provisions 35 Net assets disposed (958) Net cash proceeds arising from the transaction 2,023 Other effects 2 13 Net gain on transaction 3 1,078 Notes: 1. Includes Right-of-use assets. 2. Includes €59 million of recycled foreign exchange losses. 3. Recorded within Other income in the Consolidated income statement..

Investments in associates and j

Investments in associates and joint ventures	6 Months Ended
	Sep. 30, 2020
Investments in associates and joint ventures.
Investments in associates and joint ventures	9 Investment in associates and joint ventures 30 September 31 March 2020 2020 €m €m VodafoneZiggo Group Holding B.V . 1,457 1,630 INWIT S.p.A. 2,914 3,345 Indus Towers Limited 620 766 TPG Telecom Limited / Vodafone Hutchison Australia Pty Limited 22 (466) Other 40 48 Investment in joint ventures 1, 2 5,053 5,323 Investment in associates 375 508 5,428 5,831 Notes: 1. Includes the financing structure agreed at the time of the merger. 2. In the year ended 31 March 2020, the Group’s interest in Vodafone Idea Limited was reduced to €nil. TPG Telecom Limited / Vodafone Hutchison Australia Pty Limited On 13 July 2020, Vodafone announced that Vodafone Hutchison Australia Pty Limited (‘VHA’) and TPG Telecom Limited (‘TPG’) completed their merger to establish a fully integrated telecommunications operator in Australia. The merged entity was admitted to the Australian Securities Exchange (‘ASX’) on 30 June 2020 and is known as TPG Telecom Limited. Vodafone and Hutchison Telecommunications (Australia) Limited each own an economic interest of 25.05% in the merged unit, with the remaining 49.9% listed as free float on the ASX. The Group recorded a gain of €1,043 million in relation to the merger, which is reported in Other income within the Consolidated income statement. INWIT S.p.A. On 23 April 2020, the Group completed the sale of 41.7 million shares of Infrastrutture Wireless Italiane S.p.A. (‘INWIT’), equal to approximately 4.3% of INWIT's share capital, for €400 million. A gain of €13 million in relation to the disposal has been recorded within Other income and expense in the Consolidated Income Statement. The Group continues to hold 33.2% of INWIT’s equity shares and INWIT continues to be a joint venture of the Group. Indus Towers Limited On 1 September 2020, the Group announced that it had agreed to proceed with the merger of Indus Towers Limited (‘Indus’) and Bharti Infratel Limited (‘Bharti Infratel’, together the ‘Combined Company’). As a result of the merger, subject to any agreed closing adjustments, the Group expects to receive a 28.2% interest in the Combined Company, which will be accounted for using the equity method. Further details are provided in Note 13.

Reconciliation of net cash flow

Reconciliation of net cash flow from operating activities	6 Months Ended
	Sep. 30, 2020
Reconciliation of net cash flow from operating activities
Reconciliation of net cash flow from operating activities	10 Reconciliation of net cash flow from operating activities Six months ended 30 September 2020 2019 €m €m Profit/(loss) for the financial period 1,555 (1,891) Investment income (183) (281) Financing costs 1,610 1,369 Income tax expense 490 1,380 Operating profit 3,472 577 Adjustments for: Share-based payments and other non-cash charges 86 78 Depreciation and amortisation 6,869 6,782 Loss on disposal of property, plant and equipment and intangible assets 14 24 Share of result of equity accounted associates and joint ventures (260) 2,601 Other income (1,055) (1,024) Increase in inventory (31) (6) Increase in trade and other receivables (15) (1,069) Decrease in trade and other payables (2,538) (1,341) Cash generated by operations 6,542 6,622 Taxation (533) (483) Net cash flow from operating activities 6,009 6,139

Related party transactions

Related party transactions	6 Months Ended
	Sep. 30, 2020
Related party transactions
Related party transactions	11 Related party transactions Transactions with joint arrangements and associates Related party transactions with the Group’s joint arrangements and associates primarily consists of fees for the use of products and services including network airtime and access charges, fees for the provision of network infrastructure and cash pooling arrangements. No related party transactions have been entered into during the year which might reasonably affect any decisions made by the users of these unaudited condensed consolidated financial statements except as disclosed below. Six months ended 30 September 2020 2019 €m €m Sales of goods and services to associates 7 12 Purchase of goods and services from associates 3 — Sales of goods and services to joint arrangements 100 99 Purchase of goods and services from joint arrangements 90 88 Interest income receivable from joint arrangements 1 29 45 Interest expense payable to joint arrangements 2 29 — 30 September 31 March 2020 2020 €m €m Trade balances owed: by associates 3 4 to associates 3 4 by joint arrangements 94 157 to joint arrangements 23 37 Other balances owed by joint arrangements 1 894 1,083 Other balances owed to joint arrangements 2 1,673 2,017 Notes: 1. Amounts arise primarily through VodafoneZiggo, TPG Telecom Limited and INWIT S.p.A. Interest is charged in line with market rates. 2. Amounts for the period ended 30 September 2020 and the year ended 31 March 2020 are primarily in relation to leases of tower space from INWIT S.p.A. In the six months ended 30 September 2020 the Group made contributions to defined benefit pension schemes of €99 million (2019: €11 million). In addition, €1.0 million of dividends were paid to Board and Executive Committee members (2019: €0.7 million). Dividends received from associates and joint ventures are disclosed in the consolidated statement of cash flows.

Fair value of financial instrum

Fair value of financial instruments	6 Months Ended
	Sep. 30, 2020
Fair value of financial instruments
Fair value of financial instruments	12 Fair value of financial instruments The table below sets out the financial instruments held at fair value by the Group. 30 September 31 March 2020 2020 €m €m Financial assets at fair value: Money market funds (included within Cash and cash equivalents) 1 4,735 9,135 Debt and equity securities (included within Other investments) 2 6,009 5,226 Derivative financial instruments (included within Trade and other receivables) 2 4,815 9,176 Trade receivables at fair value through Other comprehensive income (included within Trade and other receivables) 2 1,030 817 16,589 24,354 Financial liabilities at fair value: Derivative financial instruments (included within Trade and other payables) 2 5,444 4,767 5,444 4,767 Notes: 1. Items are measured at fair value and the valuation basis is Level 1 classification, which comprises financial instruments where fair value is determined by unadjusted quoted prices in active markets. 2. Quoted debt and equity securities of €3,411 million (31 March 2020: €2,698 million) are Level 1 classification which comprises items where fair value is determined by unadjusted quoted prices in active markets. All balances other than quoted securities are Level 2 classification which comprises items where fair value is determined from inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. The fair value of the Group's financial assets and financial liabilities held at amortised cost approximate to fair value with the exception of long-term bonds with a carrying value of €47,204 million (31 March 2020: €47,500 million) and a fair value of €51,865 million (31 March 2020: €48,216 million). Fair value is based on Level 1 of the fair value hierarchy using quoted market prices.

Commitments, contingent liabili

Commitments, contingent liabilities and legal proceedings	6 Months Ended
	Sep. 30, 2020
Commitments, contingent liabilities and legal proceedings
Commitments, contingent liabilities and legal proceedings	13 Commitments, contingent liabilities and legal proceedings There have been no material changes to the Group’s commitments, contingent liabilities or legal proceedings during the period, except as disclosed below. Vodafone Idea As part of the agreement to merge Vodafone India and Idea Cellular, the parties agreed a mechanism for payments between the Group and Vodafone Idea Limited (‘VIL’) pursuant to the crystallisation of certain identified contingent liabilities in relation to legal, regulatory, tax and other matters, including the AGR case, and refunds relating to Vodafone India and Idea Cellular. Cash payments or cash receipts relating to the aforementioned matters must have been made or received by VIL before any amount becomes due from or owed to the Group. Any future payments by the Group to VIL as a result of this agreement would only be made after satisfaction of this and other contractual conditions. The Group's potential exposure under this mechanism is capped at INR 84 billion (€973 million). Having considered the payments made and refunds received by VIL in relation to certain contingent liabilities relating to Vodafone India and Idea Cellular, including those relating to the AGR case, and the significant uncertainties in relation to VIL’s ability to settle all liabilities relating to the AGR judgement, the Group assessed a cash outflow of €235 million under the agreement to be probable at 31 March 2020. This amount was cash settled in the six months ended 30 September 2020. No further case payments are considered probable at 30 September 2020. Indus Towers merger Under the terms of the agreement to merge Indus and Bharti Infratel into a 'Combined Company', and, save for the prepayment below, subject to the initial dividend of INR 48 billion being paid by the Combined Company to its shareholders within 3 months of completion, a security package will be provided for the benefit of the Combined Company which can be invoked in the event that Vodafone Idea Limited ('VIL') is unable to satisfy certain payment obligations under its Master Services Agreements with the Combined Company (the 'MSAs'). The security package includes: - - 1 (€386 million); and - In the event of non-payment of relevant MSA obligations by VIL and once the prepayment amount is exhausted in full, the Combined Company will have recourse to the primary pledge shares and, after repayment of the Loan, any secondary pledged shares, up to the value of the liability cap. VIL's ability to make ongoing MSA payments to the Combined Company depends on a number of factors including its ability to raise additional funding. Indian tax cases In August 2007 and September 2007, Vodafone India Limited ('Vodafone India') and Vodafone International Holdings BV ('VIHBV') respectively received notices from the Indian tax authority alleging potential liability in connection with an alleged failure by VIHBV to deduct withholding tax from consideration paid to the Hutchison Telecommunications International Limited group ('HTIL') in respect of HTIL's gain on its disposal to VIHBV of its interests in a wholly-owned Cayman Island incorporated subsidiary that indirectly held interests in Vodafone India. Following approximately five years of litigation in the Indian courts in which VIHBV sought to set aside the tax demand issued by the Indian tax authority, in January 2012 the Supreme Court of India handed down its judgement, holding that VIHBV's interpretation of the Income Tax Act 1961 was correct, that the HTIL transaction in 2007 was not taxable in India, and that consequently, VIHBV had no obligation to withhold tax from consideration paid to HTIL in respect of the transaction. The Supreme Court of India quashed the relevant notices and demands issued to VIHBV in respect of withholding tax and interest. On 28 May 2012 the Finance Act 2012 became law. The Finance Act 2012, which amended various provisions of the Income Tax Act 1961 with retrospective effect, contained provisions intended to tax any gain on transfer of shares in a non-Indian company, which derives substantial value from underlying Indian assets, such as VIHBV's transaction with HTIL in 2007. Further, it sought to subject a purchaser, such as VIHBV, to a retrospective obligation to withhold tax. VIHBV received a letter on 3 January 2013 from the Indian tax authority reminding it of the tax demand raised prior to the Supreme Court of India's judgement and purporting to update the interest element of that demand to a total amount of INR142 billion, which included principal and interest as calculated by the Indian tax authority but did not include penalties. On 10 January 2014, VIHBV served an amended trigger notice on the Indian Government under the Netherlands-India Bilateral Investment Treaty ('Dutch BIT'), supplementing a trigger notice filed on 17 April 2012, immediately prior to the Finance Act 2012 becoming effective, to add claims relating to an attempt by the Indian Government to tax aspects of the transaction with HTIL under transfer pricing rules. A trigger notice announces a party's intention to submit a claim to arbitration and triggers a cooling off period during which both parties may seek to resolve the dispute amicably. Notwithstanding their attempts, the parties were unable to amicably resolve the dispute within the cooling off period stipulated in the Dutch BIT. On 17 April 2014, VIHBV served its notice of arbitration under the Dutch BIT, formally commencing the Dutch BIT arbitration proceedings. In June 2016, the tribunal was fully constituted with Sir Franklin Berman KCMG QC appointed as presiding arbitrator. The Indian Government raised objections to the application of the treaty to VIHBV's claims and to the jurisdiction of the tribunal under the Dutch BIT. On 19 June 2017, the tribunal decided to try both these jurisdictional objections along with the merits of VIHBV's claim in February 2019. Further attempts by the Indian Government to have the jurisdiction arguments heard separately also failed. VIHBV filed its response to India's defence in July 2018 and India responded in December 2018. The arbitration hearing took place in February 2019. The tribunal issued the award on 25 September 2020 and unanimously ruled in Vodafone's favour. The Indian Government has three months to decide whether to apply to the Singapore court to set aside the award. Separately, on 15 June 2015, Vodafone Group Plc and Vodafone Consolidated Holdings Limited served a trigger notice on the Indian Government under the United Kingdom-India Bilateral Investment Treaty ('UK BIT') in respect of retrospective tax claims under the Income Tax Act 1961 (as amended by the Finance Act 2012). Although relating to the same underlying facts as the claim under the Dutch BIT, the claim brought by Vodafone Group Plc and Vodafone Consolidated Holdings Limited is a separate and distinct claim under a different treaty. On 24 January 2017, Vodafone Group Plc and Vodafone Consolidated Holdings Limited served a Notice of Arbitration on the Indian Government formally commencing the arbitration. The Indian Government considers the arbitration under the UK BIT to be an abuse of process but this is strongly denied by Vodafone. On 22 August 2017, the Indian Government obtained an injunction from the Delhi High Court preventing Vodafone from progressing the UK BIT arbitration. Vodafone applied to dismiss it. On 26 October 2017, the Delhi High Court varied its order to permit Vodafone to participate in the formation of the UK BIT tribunal. The UK BIT tribunal now consists of Marcelo Kohen, an Argentinian national and professor of international law in Geneva (appointed by India), Neil Kaplan, a British national (appointed by Vodafone Group Plc) and Professor Campbell McLachlan QC, a New Zealand national (appointed by the parties as presiding arbitrator). On 7 May 2018, the Delhi High Court dismissed the injunction. The Indian Government appealed the decision and hearings took place from 2018 to 2020, with frequent adjournments. In the meantime, Vodafone has undertaken to take no steps advancing the UK BIT pending resolution of the Indian Government's appeal. The Delhi High Court will decide how to deal with these proceedings in light of the Government's intentions concerning any application to set aside the Dutch BIT in Singapore. Vodafone will seek to maintain the UK BIT pending expiry of the three month period for the India Government to make that application. Indian regulatory cases Adjusted Gross Revenue (‘AGR’) dispute before the Supreme Court of India: Union of India v Association of Unified Telecom Service Providers of India The Department of Telecommunications (‘DoT’) has been in dispute with telecom service providers in India for over a decade concerning the correct interpretation of licence provisions for fees based on AGR, a concept that is used in the calculation of licence and other fees payable by telecom service providers. On an appeal to the Supreme Court from a decision of the Telecommunications Dispute Settlement Appellate Tribunal (‘TDSAT’) substantially upholding the telecom service providers’ interpretation of AGR, the Supreme Court on 24 October 2019 held against the telecom service providers, including VIL. The Supreme Court’s ruling in favour of the DoT rendered the telecom service providers, including VIL, liable for principal, interest, penalties and interest on penalties on demands of the DoT in relation to licence fees. The DoT demands became due and payable within three months of the Supreme Court judgement. In November 2019, the DoT issued an order for the AGR judgement debt to be determined through self-assessment and paid on or before 23 January 2020. VIL and other operators filed review petitions against the judgement, which were heard and dismissed on 16 January 2020. On 23 January 2020, the DoT announced that it would not take coercive action against telecom service providers which have not repaid their respective AGR judgement debts. Consequently, VIL and others did not pay any amount to the DoT. On 14 February 2020, after hearing applications from VIL and other operators, the Supreme Court ordered the DoT to withdraw its non-coercive order as well as requiring all Directors of VIL and other relevant operators to show cause as to why contempt proceedings should not be brought against them. On 17 February, 20 February, 16 March and 16 July 2020, VIL made payments totalling INR 78.5 billion (€0.9 billion) to the DoT. In September 2020, the Supreme Court directed that telecom operators make payment of 10% of the total dues by 31 March 2021 and thereafter repay the balance, along with 8% interest, in 10 annual instalments commencing from 1 April 2021 to 31 March 2031, payable by 31 March of every succeeding financial year. Based on submissions of the DoT in the Supreme Court proceedings (which the Group is unable to confirm as to their accuracy), Vodafone Idea reported a total estimated liability of INR 654 billion (€7.6 billion) excluding repayments and including interest, penalty and interest on penalty up to 30 June 2020. One time spectrum charges: Vodafone India v Union of India The Indian Government sought to impose one-time spectrum charges of approximately €400 million on certain operating subsidiaries of Vodafone India. Vodafone India filed a petition before the TDSAT challenging the one-time spectrum charges on the basis that they are illegal, violate Vodafone India's licence terms and are arbitrary, unreasonable and discriminatory. The tribunal stayed enforcement of the Government's spectrum demand pending resolution of the dispute. In July 2019, the TDSAT upheld the demand, in part, and in October 2019 VIL filed an appeal which was heard in the Supreme Court in March 2020. The Court rejected VIL's appeal, upholding the TDSAT order. The Government has also filed an appeal along with an application to stay the TDSAT order. The hearing took place in early November 2020 in which the Supreme Court, while issuing notice to Vodafone India on Government’s appeal and stay application, has granted it two weeks time to submit its reply. The next hearing is expected to take place in the end of November 2020. Other Indian regulatory cases Litigation remains pending in the TDSAT, High Courts and the Supreme Court of India in relation to a number of significant regulatory issues including mobile termination rates, spectrum and licence fees, licence extension and 3G intracircle roaming. Other cases in the Group Patent litigation - UK On 22 February 2019, IPCom sued Vodafone Group Plc and Vodafone Limited for alleged patent infringement of two patents claimed to be essential to UMTS and LTE network standards. If IPCom could have established that one or more of its patents were valid and infringed, it could have sought an injunction against the UK network if a global licence for the patents was not agreed. The Court ordered expedited trials of the infringement and validity issues. The trial on the first patent was in November 2019 and removed the risk of injunction so IPCom gave up the trial on the second patent listed for May 2020. Both IPCom and Vodafone are appealing certain aspects of the judgement from the first trial. The appeal hearing is listed for January 2021. Italy: Iliad v Vodafone Italy In August 2019, Iliad filed a claim for €500 million against Vodafone Italy in the Civil Court of Milan. The claim alleges anti-competitive behaviour in relation to portability and certain advertising campaigns by Vodafone Italy. Preliminary hearings have taken place, including one at which the Court rejected Iliad's application for a cease and desist order against alleged misleading advertising by Vodafone. The main hearing on the merits of the claim is scheduled for 15 December 2020. Greece: Papistas Holdings SA, Mobile Trade Stores (formerly Papistas SA) and Athanasios and Loukia Papistas v Vodafone Greece, Vodafone Group Plc and certain Directors and Officers of Vodafone In December 2013, Mr. and Mrs. Papistas, and companies owned or controlled by them, brought three claims in the Greek court in Athens against Vodafone Greece, Vodafone Group Plc and certain Directors and officers of Vodafone Greece and Vodafone Group Plc for purported damage caused by the alleged abuse of dominance and wrongful termination of a franchise arrangement with a Papistas company. Approximately €1.0 billion of the claim was directed exclusively at two former Directors of Vodafone. The balance of the claim (approximately €285.5 million) was sought from Vodafone Greece and Vodafone Group Plc on a joint and several basis. Both cases were adjourned to a hearing in September 2018, at which the plaintiffs withdrew all of their claims against Vodafone and its Directors. On 31 December 2018, the plaintiff filed a new, much lower value claim against Vodafone Greece, removing the individual Directors and Vodafone Group Plc as defendants. On 5 April 2019, Mr Papistas withdrew this latest lawsuit, but in October 2019 filed several new cases against Vodafone Greece with a total value of approximately €330 million. Vodafone filed a counter claim and all claims were heard in February 2020. Mr Papistas' claims have been rejected by the Court as Mr Papistas did not make the stamp duty payments required to have the case considered. Vodafone Greece's counter claim was also rejected. Mr Papistas and Vodafone Greece have each respectively filed appeals and the hearing on these appeals will take place in October 2021. Netherlands: Consumer credit/handset case In February 2016, the Dutch Supreme Court ruled on the Dutch implementation of the EU Consumer Credit Directive and "instalment sales agreements" (a Dutch law concept), holding that bundled "all-in" mobile subscription agreements (i.e. device along with mobile services) are considered consumer credit agreements. As a result, Vodafone Ziggo, together with the industry, has been working with the Ministry of Finance and the Competition Authority on compliance requirements going forward for such offers. The ruling also has retrospective effect. A number of small claims were submitted by individual customers in the small claims courts. On 15 February 2018, Consumentenbond (a claims agency) initiated collective claim proceedings against VodafoneZiggo, Tele2, T-Mobile and now KPN. A settlement agreement was signed with the claims agency and the Dutch Consumer Federation in October 2020. As a result, the collective claim proceedings against VodafoneZiggo have been withdrawn. UK: Phones 4U in Administration v Vodafone Limited and Vodafone Group Plc and Others In December 2018 the administrators of former UK indirect seller Phones 4U sued the three main UK mobile network operators (MNOs), including Vodafone, and their parent companies. The administrators allege a conspiracy between the MNOs to pull their business from Phones 4U thereby causing its collapse. The value of the claim is not pleaded but we understand it to be the total value of the business, possibly around £1 billion. Vodafone's alleged share of the liability is also not pleaded. Vodafone filed its defence on 18 April 2019, along with several other defendants, and the Administrators filed their Replies in October 2019. Case management hearings took place in March and July 2020. Vodafone and others are appealing one aspect of the judge's Order regarding the scope of disclosure. The Court of Appeal hearing is in January 2021. The judge has also ordered that there should be a split trial between liability and damages. The first trial will start in May 2022.

Subsequent events

Subsequent events	6 Months Ended
	Sep. 30, 2020
Subsequent events.
Subsequent events	14 Subsequent events On 4 November 2020, Vodafone Egypt, which is classified as held for sale by the Group, acquired 40 MHz of 2.6 GHz TDD spectrum from the National Telecommunications Regulatory Authority. The acquired spectrum has a 10 year licence term through to 2030. Payments will be phased over 3 years, with an initial payment of $270 million (€230 million) upon receipt of the spectrum and two further payments of $135 million (€115 million) due in 2021 and 2022 respectively.

Basis of preparation (Policies)

Basis of preparation (Policies)	6 Months Ended
	Sep. 30, 2020
Basis of preparation
Considerations in respect of COVID-19	Considerations in respect of COVID-19 Going concern As outlined on page 3, trading in the first half of the year demonstrates the relative resilience of the Group’s operating model and the Group has a strong liquidity position with €6.6 billion of cash and cash equivalents available at 30 September 2020 and the Group has access to committed facilities that cover all of the Group’s reasonably expected cash requirements over the going concern period. The Directors have reviewed trading and liquidity forecasts for the Group which have been updated for the expected impact of COVID-19. The forecasts considered a variety of scenarios including not being able to access the capital markets during the assessment period. In addition to the liquidity forecasts prepared, the Directors considered the availability of the Group’s revolving credit facilities which were undrawn as at 30 September 2020. As a result of the assessment performed, the Directors have concluded that the Group is able to continue in operation for the period up to and including March 2022 and that it is appropriate to continue to adopt a going concern basis in preparing the unaudited condensed consolidated financial statements. Critical accounting judgements and estimates The Group’s critical accounting judgements and estimates were disclosed in the Group’s annual report for the year ended 31 March 2020. The forecast impact of COVID-19 was factored into certain of our judgements, primarily impairment testing. These judgements and estimates were reassessed during the six months ended 30 September 2020 and the Group’s latest outlook and best estimate of the COVID-19 impact are considered in our impairment review.
New accounting pronouncements adopted	New accounting pronouncements adopted On 1 April 2020, the Group adopted certain new accounting policies where necessary to comply with amendments to IFRS, none of which had a material impact on the consolidated results, financial position or cash flows of the Group. Further details are provided in the Group’s annual report for the year ended 31 March 2020.

Segmental analysis (Tables)

Segmental analysis (Tables)	6 Months Ended
	Sep. 30, 2020
Segmental analysis
Schedule of group's revenue and profit	The Group’s revenue and profit is disaggregated as follows: Revenue from contracts Total Service Equipment with Interest segment Adjusted revenue revenue customers revenue Other 1 revenue EBITDA €m €m €m €m €m €m €m Six months ended 30 September 2020 Germany 5,723 466 6,189 6 176 6,371 2,844 Italy 2,249 216 2,465 5 36 2,506 800 UK 2,401 509 2,910 24 49 2,983 636 Spain 1,880 132 2,012 8 30 2,050 488 Other Europe 2,411 252 2,663 9 48 2,720 870 Eliminations (47) — (47) — — (47) — Europe 14,617 1,575 16,192 52 339 16,583 5,638 Vodacom 1,949 335 2,284 7 132 2,423 891 Other Markets 1,679 212 1,891 — 7 1,898 613 Common Functions 219 13 232 — 424 656 (119) Eliminations (46) — (46) — (87) (133) — Group 18,418 2,135 20,553 59 815 21,427 7,023 Revenue from contracts Total Service Equipment with Interest segment Adjusted revenue revenue customers revenue Other 1 revenue EBITDA €m €m €m €m €m €m €m Six months ended 30 September 2019 Germany 4,961 495 5,456 14 120 5,590 2,352 Italy 2,424 256 2,680 4 25 2,709 1,006 UK 2,451 598 3,049 34 68 3,151 658 Spain 1,966 157 2,123 13 25 2,161 460 Other Europe 2,392 253 2,645 9 36 2,690 872 Eliminations (74) — (74) — (2) (76) — Europe 14,120 1,759 15,879 74 272 16,225 5,348 Vodacom 2,217 416 2,633 2 99 2,734 1,019 Other Markets 2,024 299 2,323 2 26 2,351 755 Common Functions 240 24 264 — 523 787 (17) Eliminations (57) — (57) — (101) (158) — Group 18,544 2,498 21,042 78 819 21,939 7,105 Note: 1. Other includes lease revenue.
Schedule of reconciliation of adjusted EBITDA to operating profit/(loss)	Six months ended 30 September 2020 2019 €m €m Adjusted EBITDA 7,023 7,105 Depreciation and amortisation (4,729) (4,874) Share of adjusted results in equity accounted associates and joint ventures 1 255 (550) Adjusted operating profit 2,549 1,681 Restructuring costs (86) (163) Amortisation of acquired customer bases and brand intangible assets (364) (232) Other income and expense 2 1,184 (872) Interest on lease liabilities 189 163 Operating profit 3,472 577 Notes: 1. Share of results of equity accounted associates and joint ventures presented within the Consolidated income statement includes €255 million (2019: -€550 million) included within Adjusted operating profit, €nil (2019: -€33 million) included within Restructuring costs, -€124 million (2019: -€122 million) included within Amortisation of acquired customer base and brand intangible assets and €129 million (2019: -€1,896 million; principally related to Vodafone Idea Limited) included within other income and expense. 2. For the six months ended 30 September 2020, the Group recorded a gain of €1,043 million in relation to the merger of Vodafone Hutchison Australia Pty Limited and TPG Telecom Limited which is reported in Other income and expense. See Note 9 ‘Investment in associates and joint ventures’. For the six months ended 30 September 2019, the Group recorded a gain of €1,078 million in relation to the disposal of Vodafone New Zealand, offset by losses incurred in Vodafone Idea Limited
Schedule of groups non-current assets	30 September 31 March 2020 2020 €m €m Non-current assets 1 Germany 47,504 48,266 Italy 10,787 11,119 UK 7,215 7,790 Spain 7,051 7,229 Other Europe 9,060 9,138 Europe 81,617 83,542 Vodacom 5,270 5,400 Other Markets 1,309 1,561 Common Functions 2,110 2,217 Group 90,306 92,720 Note: Includes goodwill, other intangible assets and property, plant and equipment (including right-of-use assets).

Impairment review (Tables)

Impairment review (Tables)	6 Months Ended
	Sep. 30, 2020
Impairment review
Schedule of assumptions used in valuation of impairment loss	The table below shows key assumptions used in the value in use calculations at 30 September 2020: Assumptions used in value in use calculation Germany Italy Spain Ireland Romania % % % % % Pre-tax risk adjusted discount rate 7.3 10.8 9.3 7.7 10.1 Long-term growth rate 0.5 0.5 0.5 0.5 1.0 Projected adjusted EBITDA 1 3.8 2.5 8.2 0.9 8.0 Projected capital expenditure 2 20.0 - 20.7 12.2 - 14.9 16.2 - 18.7 13.2 - 15.7 13.7 - 16.6 Change required for carrying value to equal recoverable amount Germany Italy Spain Ireland Romania pps Pps pps Pps pps Pre-tax risk adjusted discount rate 1.1 1.2 0.3 0.3 0.4 Long-term growth rate (1.1) (1.2) (0.3) (0.3) (0.6) Projected adjusted EBITDA 1 (3.3) (1.9) (0.7) (0.6) (1.1) Projected capital expenditure 2 13.5 4.9 1.4 1.7 1.5 Notes : 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. 2. Projected capital expenditure, which excludes licences and spectrum, is expressed as the range of capital expenditure as a percentage of revenue in the initial five years for all cash-generating units of the plans used for impairment review. Recoverable amount less carrying value Germany Italy Spain Ireland Romania €bn €bn €bn €bn €bn Base case as at 30 September 2020 7.1 1.0 0.2 0.1 0.1 Change in projected adjusted EBITDA1 Decrease by 5pps (3.3) (1.5) (1.3) (0.4) (0.2) Increase by 5pps 19.4 4.0 2.0 0.7 0.3 Change in long-term growth rate Decrease by 1pps 0.4 0.2 (0.4) (0.1) — Increase by 1pps 16.8 2.1 1.1 0.3 0.2 Note: 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. Change required for carrying value to equal recoverable amount UK Portugal Czech Republic Hungary pps pps pps Pps Pre-tax risk adjusted discount rate 0.5 1.3 1.6 1.2 Long-term growth rate (0.5) (1.3) (1.6) (1.4) Projected adjusted EBITDA 1 (1.0) (2.8) (3.6) (2.5) Projected capital expenditure 2 2.2 6.1 12.7 6.8 Notes: 1. Projected adjusted EBITDA is expressed as the compound annual growth rates in the initial five years for all cash-generating units of the plans used for impairment review. 2. Projected capital expenditure, which excludes licences and spectrum, is expressed as capital expenditure as a percentage of revenue in the initial five years for all cash-generating units of the plans used for impairment review

Taxation (Tables)

Taxation (Tables)	6 Months Ended
	Sep. 30, 2020
Taxation
Schedule of income tax expense	Six months ended 30 September 2020 2019 €m €m United Kingdom corporation tax (expense)/income 1 Current period (17) (14) Adjustments in respect of prior periods 4 (10) Overseas current tax (expense)/income Current period (470) (474) Adjustments in respect of prior periods 93 14 Total current tax expense (390) (484) Deferred tax on origination and reversal of temporary differences United Kingdom deferred tax 83 144 Overseas deferred tax (183) (1,040) Total deferred tax expense (100) (896) Total income tax expense (490) (1,380) Note: 1. UK operating profits are more than offset by statutory allowances for capital investment in the UK network and systems plus ongoing interest costs including those arising from the €10.7 billion of spectrum payments to the UK government in 2000, 2013 and 2018.

Assets and liabilities held f_2

Assets and liabilities held for sale (Tables)	6 Months Ended
	Sep. 30, 2020
Assets and liabilities held for sale
Schedule of assets and liabilities held for sale	30 September 31 March 2020 2020 €m €m Non-current assets Goodwill 100 107 Other intangible assets 367 379 Property, plant and equipment 969 916 Investments in associates and joint ventures 299 (412) Trade and other receivables 12 15 1,747 1,005 Current assets Inventory Taxation recoverable Trade and other receivables Cash and cash equivalents Total assets held for sale Non-current liabilities Long-term borrowings Deferred tax liabilities Provisions Current liabilities Short-term borrowings Taxation liabilities Provisions Trade and other payables Total liabilities held for sale

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Sep. 30, 2020
Earnings per share
Schedule of basic and diluted earnings per share	Six months ended 30 September 2020 2019 Millions Millions Weighted average number of shares for basic earnings per share 29,535 29,410 Effect of dilutive potential shares: restricted shares and share options 75 — Weighted average number of shares for diluted earnings per share 29,610 29,410 Earnings per share attributable to owners of the parent during the period Six months ended 30 September 2020 2019 €m €m Profit/(loss) for basic and diluted earnings per share 1,314 (2,128) eurocents eurocents Basic profit/(loss) per share 4.45 (7.24) Diluted profit/(loss) per share 4.44 (7.24)

Equity dividends (Tables)

Equity dividends (Tables)	6 Months Ended
	Sep. 30, 2020
Equity dividends
Schedule of dividends declared and proposed	Equity dividends Six months ended 30 September 2020 2019 €m €m Declared during the financial period: Final dividend for the year ended 31 March 2020: 4.50 eurocents per share (2019: 4.16 eurocents per share) 1,205 1,112 Proposed after the end of the reporting period and not recognised as a liability: Interim dividend for the year ending 31 March 2021: 4.50 eurocents per share (2020: 4.50 eurocents per share) 1,207 1,205

Investment in subsidiaries (Tab

Investment in subsidiaries (Tables)	6 Months Ended
	Sep. 30, 2020
Investment in subsidiaries
Schedule of aggregate cash consideration in respect of purchase of interests in subsidiaries, net of cash acquired	Six months ended 30 September 2020 2019 €m €m Cash consideration paid Other acquisitions 136 29 European Liberty Global assets — 10,295 Net cash acquired — (122) 136 10,202
Schedule of purchase price allocation	31 March 2020 Fair value €m Net assets acquired Identifiable intangible assets 1 5,818 Property, plant and equipment 2 4,737 Inventory 2 Trade and other receivables 856 Other investments 2 Cash and cash equivalents 109 Current and deferred taxation (1,904) Short and long-term borrowings (9,527) Trade and other payables (1,066) Post employment benefits (40) Provisions (178) Net identifiable liabilities acquired (1,191) Goodwill 3 11,504 Total consideration 4 10,313 Notes: 1. Identifiable intangible assets of €5,818 million consisted of customer relationships of €5,569 million, brand of €71 million and software of €178 million. 2. Includes Right-of-use assets. 3. The goodwill is attributable to future profits expected to be generated from new customers and the synergies expected to arise after the Group’s acquisition of the businesses. 4. Transaction costs of €58 million were charged in the Group’s consolidated income statement in the six months ended 30 September 2019.
Schedule of net assets disposed and the resulting net gain on disposal	31 March 2020 €m Goodwill (243) Other intangible assets (155) Property, plant and equipment 1 (783) Inventory (29) Trade and other receivables (244) Investments in associates and joint ventures (4) Current and deferred taxation (11) Short and long-term borrowings 215 Trade and other payables 261 Provisions 35 Net assets disposed (958) Net cash proceeds arising from the transaction 2,023 Other effects 2 13 Net gain on transaction 3 1,078 Notes: 1. Includes Right-of-use assets. 2. Includes €59 million of recycled foreign exchange losses. 3. Recorded within Other income in the Consolidated income statement..

Investments in associates and_2

Investments in associates and joint ventures (Tables)	6 Months Ended
	Sep. 30, 2020
Investments in associates and joint ventures.
Schedule of joint ventures and associates	30 September 31 March 2020 2020 €m €m VodafoneZiggo Group Holding B.V . 1,457 1,630 INWIT S.p.A. 2,914 3,345 Indus Towers Limited 620 766 TPG Telecom Limited / Vodafone Hutchison Australia Pty Limited 22 (466) Other 40 48 Investment in joint ventures 1, 2 5,053 5,323 Investment in associates 375 508 5,428 5,831

Reconciliation of net cash fl_2

Reconciliation of net cash flow from operating activities (Tables)	6 Months Ended
	Sep. 30, 2020
Reconciliation of net cash flow from operating activities
Schedule of reconciliation of net cash flow from operating activities	Six months ended 30 September 2020 2019 €m €m Profit/(loss) for the financial period 1,555 (1,891) Investment income (183) (281) Financing costs 1,610 1,369 Income tax expense 490 1,380 Operating profit 3,472 577 Adjustments for: Share-based payments and other non-cash charges 86 78 Depreciation and amortisation 6,869 6,782 Loss on disposal of property, plant and equipment and intangible assets 14 24 Share of result of equity accounted associates and joint ventures (260) 2,601 Other income (1,055) (1,024) Increase in inventory (31) (6) Increase in trade and other receivables (15) (1,069) Decrease in trade and other payables (2,538) (1,341) Cash generated by operations 6,542 6,622 Taxation (533) (483) Net cash flow from operating activities 6,009 6,139

Related party transactions (Tab

Related party transactions (Tables)	6 Months Ended
	Sep. 30, 2020
Related party transactions
Schedule of transactions with joint arrangements and associates	Six months ended 30 September 2020 2019 €m €m Sales of goods and services to associates 7 12 Purchase of goods and services from associates 3 — Sales of goods and services to joint arrangements 100 99 Purchase of goods and services from joint arrangements 90 88 Interest income receivable from joint arrangements 1 29 45 Interest expense payable to joint arrangements 2 29 — 30 September 31 March 2020 2020 €m €m Trade balances owed: by associates 3 4 to associates 3 4 by joint arrangements 94 157 to joint arrangements 23 37 Other balances owed by joint arrangements 1 894 1,083 Other balances owed to joint arrangements 2 1,673 2,017 Notes: 1. Amounts arise primarily through VodafoneZiggo, TPG Telecom Limited and INWIT S.p.A. Interest is charged in line with market rates. 2. Amounts for the period ended 30 September 2020 and the year ended 31 March 2020 are primarily in relation to leases of tower space from INWIT S.p.A.

Fair value of financial instr_2

Fair value of financial instruments (Tables)	6 Months Ended
	Sep. 30, 2020
Fair value of financial instruments
Schedule of financial instruments held at fair value	30 September 31 March 2020 2020 €m €m Financial assets at fair value: Money market funds (included within Cash and cash equivalents) 1 4,735 9,135 Debt and equity securities (included within Other investments) 2 6,009 5,226 Derivative financial instruments (included within Trade and other receivables) 2 4,815 9,176 Trade receivables at fair value through Other comprehensive income (included within Trade and other receivables) 2 1,030 817 16,589 24,354 Financial liabilities at fair value: Derivative financial instruments (included within Trade and other payables) 2 5,444 4,767 5,444 4,767 Notes: 1. Items are measured at fair value and the valuation basis is Level 1 classification, which comprises financial instruments where fair value is determined by unadjusted quoted prices in active markets. 2. Quoted debt and equity securities of €3,411 million (31 March 2020: €2,698 million) are Level 1 classification which comprises items where fair value is determined by unadjusted quoted prices in active markets. All balances other than quoted securities are Level 2 classification which comprises items where fair value is determined from inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly.

Segmental analysis (Details)

Segmental analysis (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segmental analysis
Service revenue	€ 18,418	€ 18,544
Equipment revenue	2,135	2,498
Revenue from contracts with customers	20,553	21,042
Interest revenue	59	78
Other	815	819
Adjusted EBITDA	7,023	7,105
Total segment revenue	21,427	21,939
Europe
Segmental analysis
Service revenue	14,617	14,120
Equipment revenue	1,575	1,759
Revenue from contracts with customers	16,192	15,879
Interest revenue	52	74
Other	339	272
Adjusted EBITDA	5,638	5,348
Total segment revenue	16,583	16,225
Germany
Segmental analysis
Service revenue	5,723	4,961
Equipment revenue	466	495
Revenue from contracts with customers	6,189	5,456
Interest revenue	6	14
Other	176	120
Adjusted EBITDA	2,844	2,352
Total segment revenue	6,371	5,590
Italy
Segmental analysis
Service revenue	2,249	2,424
Equipment revenue	216	256
Revenue from contracts with customers	2,465	2,680
Interest revenue	5	4
Other	36	25
Adjusted EBITDA	800	1,006
Total segment revenue	2,506	2,709
UK
Segmental analysis
Service revenue	2,401	2,451
Equipment revenue	509	598
Revenue from contracts with customers	2,910	3,049
Interest revenue	24	34
Other	49	68
Adjusted EBITDA	636	658
Total segment revenue	2,983	3,151
Spain
Segmental analysis
Service revenue	1,880	1,966
Equipment revenue	132	157
Revenue from contracts with customers	2,012	2,123
Interest revenue	8	13
Other	30	25
Adjusted EBITDA	488	460
Total segment revenue	2,050	2,161
Other Europe
Segmental analysis
Service revenue	2,411	2,392
Equipment revenue	252	253
Revenue from contracts with customers	2,663	2,645
Interest revenue	9	9
Other	48	36
Adjusted EBITDA	870	872
Total segment revenue	2,720	2,690
Eliminations
Segmental analysis
Service revenue	(47)	(74)
Revenue from contracts with customers	(47)	(74)
Other		(2)
Total segment revenue	(47)	(76)
Vodacom
Segmental analysis
Service revenue	1,949	2,217
Equipment revenue	335	416
Revenue from contracts with customers	2,284	2,633
Interest revenue	7	2
Other	132	99
Adjusted EBITDA	891	1,019
Total segment revenue	2,423	2,734
Other Markets
Segmental analysis
Service revenue	1,679	2,024
Equipment revenue	212	299
Revenue from contracts with customers	1,891	2,323
Interest revenue		2
Other	7	26
Adjusted EBITDA	613	755
Total segment revenue	1,898	2,351
Eliminations
Segmental analysis
Service revenue	(46)	(57)
Revenue from contracts with customers	(46)	(57)
Other	(87)	(101)
Total segment revenue	(133)	(158)
Common Functions
Segmental analysis
Service revenue	219	240
Equipment revenue	13	24
Revenue from contracts with customers	232	264
Other	424	523
Adjusted EBITDA	(119)	(17)
Total segment revenue	€ 656	€ 787

Segmental analysis - Reconcilia

Segmental analysis - Reconciliation of adjusted EBITDA to operating profit (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segmental revenue and profit
Adjusted EBITDA	€ 7,023	€ 7,105
Depreciation and amortisation	(4,729)	(4,874)
Share of adjusted results in equity accounted associates and joint ventures	255	(550)
Adjusted operating profit	2,549	1,681
Restructuring costs	(86)	(163)
Amortisation of acquired customer bases and brand intangible assets	(364)	(232)
Other income and expense	1,184	(872)
Interest on lease liabilities	189	163
Operating profit	3,472	577
Share of profit (loss) of associates and joint ventures accounted for using equity method	260	(2,601)
Gain in relation to merger	1,043
Gain in relation to disposal		1,078
Adjusted operating profit
Segmental revenue and profit
Share of adjusted results in equity accounted associates and joint ventures	255	550
Restructuring costs
Segmental revenue and profit
Share of profit (loss) of associates and joint ventures accounted for using equity method		33
Amortisation of acquired customer base and brand intangible assets
Segmental revenue and profit
Share of profit (loss) of associates and joint ventures accounted for using equity method	124	122
Other income and expense
Segmental revenue and profit
Share of profit (loss) of associates and joint ventures accounted for using equity method	€ 129	€ 1,896

Segmental analysis - Non-curren

Segmental analysis - Non-current assets (Details) - EUR (€) € in Millions	Sep. 30, 2020	Mar. 31, 2020
Segmental assets and cash flow
Non-current assets	€ 90,306	€ 92,720
Europe
Segmental assets and cash flow
Non-current assets	81,617	83,542
Germany
Segmental assets and cash flow
Non-current assets	47,504	48,266
Italy
Segmental assets and cash flow
Non-current assets	10,787	11,119
UK
Segmental assets and cash flow
Non-current assets	7,215	7,790
Spain
Segmental assets and cash flow
Non-current assets	7,051	7,229
Other Europe
Segmental assets and cash flow
Non-current assets	9,060	9,138
Vodacom
Segmental assets and cash flow
Non-current assets	5,270	5,400
Other Markets
Segmental assets and cash flow
Non-current assets	1,309	1,561
Common Functions
Segmental assets and cash flow
Non-current assets	€ 2,110	€ 2,217

Impairment review - Key assumpt

Impairment review - Key assumptions used in value in use calculations (Details) € in Billions	6 Months Ended
	Sep. 30, 2020EUR (€)
Change required for carrying value to equal recoverable amount
Growth rate used to extrapolate cash flow projections	5.00%
Germany
Assumptions used in value in use calculation
Pre-tax risk adjusted discount rate (as a percent)	7.30%
Long-term growth rate (as a percent)	0.50%
Projected adjusted EBITDA (as a percent)	3.80%
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	1.10%
Long-term growth rate (as a percent)	(1.10%)
Projected adjusted EBITDA (as a percent)	(3.30%)
Projected capital expenditure (as a percent)	13.50%
Germany | Minimum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	20.00%
Germany | Maximum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	(20.70%)
Germany | Base Case
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 7.1
Germany | Decrease in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(3.3)
Germany | Increase in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	19.4
Germany | Decrease in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	0.4
Germany | Increase in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 16.8
Italy
Assumptions used in value in use calculation
Pre-tax risk adjusted discount rate (as a percent)	10.80%
Long-term growth rate (as a percent)	0.50%
Projected adjusted EBITDA (as a percent)	2.50%
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	1.20%
Long-term growth rate (as a percent)	(1.20%)
Projected adjusted EBITDA (as a percent)	(1.90%)
Projected capital expenditure (as a percent)	4.90%
Italy | Minimum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	12.20%
Italy | Maximum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	(14.90%)
Italy | Base Case
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 1
Italy | Decrease in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(1.5)
Italy | Increase in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	4
Italy | Decrease in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	0.2
Italy | Increase in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 2.1
Spain
Assumptions used in value in use calculation
Pre-tax risk adjusted discount rate (as a percent)	9.30%
Long-term growth rate (as a percent)	0.50%
Projected adjusted EBITDA (as a percent)	8.20%
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	0.30%
Long-term growth rate (as a percent)	(0.30%)
Projected adjusted EBITDA (as a percent)	(0.70%)
Projected capital expenditure (as a percent)	1.40%
Spain | Minimum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	16.20%
Spain | Maximum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	(18.70%)
Spain | Base Case
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 0.2
Spain | Decrease in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(1.3)
Spain | Increase in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	2
Spain | Decrease in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(0.4)
Spain | Increase in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 1.1
Ireland
Assumptions used in value in use calculation
Pre-tax risk adjusted discount rate (as a percent)	7.70%
Long-term growth rate (as a percent)	0.50%
Projected adjusted EBITDA (as a percent)	0.90%
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	0.30%
Long-term growth rate (as a percent)	(0.30%)
Projected adjusted EBITDA (as a percent)	(0.60%)
Projected capital expenditure (as a percent)	1.70%
Ireland | Minimum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	13.20%
Ireland | Maximum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	(15.70%)
Ireland | Base Case
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 0.1
Ireland | Decrease in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(0.4)
Ireland | Increase in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	0.7
Ireland | Decrease in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(0.1)
Ireland | Increase in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 0.3
Romania
Assumptions used in value in use calculation
Pre-tax risk adjusted discount rate (as a percent)	10.10%
Long-term growth rate (as a percent)	1.00%
Projected adjusted EBITDA (as a percent)	8.00%
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	0.40%
Long-term growth rate (as a percent)	(0.60%)
Projected adjusted EBITDA (as a percent)	(1.10%)
Projected capital expenditure (as a percent)	1.50%
Romania | Minimum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	13.70%
Romania | Maximum
Assumptions used in value in use calculation
Projected capital expenditure (as a percent)	(16.60%)
Romania | Base Case
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 0.1
Romania | Decrease in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	(0.2)
Romania | Increase in EBITDA by 5 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	0.3
Romania | Increase in long-term growth rate by 1 pps
Change required for carrying value to equal recoverable amount
Recoverable amount that exceeds carrying value	€ 0.2
UK
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	0.50%
Long-term growth rate (as a percent)	(0.50%)
Projected adjusted EBITDA (as a percent)	(1.00%)
Projected capital expenditure (as a percent)	2.20%
Portugal
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	1.30%
Long-term growth rate (as a percent)	(1.30%)
Projected adjusted EBITDA (as a percent)	(2.80%)
Projected capital expenditure (as a percent)	6.10%
Czech Republic
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	1.60%
Long-term growth rate (as a percent)	(1.60%)
Projected adjusted EBITDA (as a percent)	(3.60%)
Projected capital expenditure (as a percent)	12.70%
Hungary
Change required for carrying value to equal recoverable amount
Pre-tax risk adjusted discount rate (as a percent)	1.20%
Long-term growth rate (as a percent)	(1.40%)
Projected adjusted EBITDA (as a percent)	(2.50%)
Projected capital expenditure (as a percent)	6.80%

Taxation - Income tax expense (

Taxation - Income tax expense (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Current tax (expense)/income
Total current tax expense	€ 390	€ 484
Total deferred tax expense	(100)	(896)
Total income tax expense /(credit)	(490)	(1,380)
United Kingdom
Current tax (expense)/income
Current period	(17)	(14)
Adjustments in respect of prior periods	4	(10)
Total deferred tax expense	83	144
Spectrum Payments	10,700
Overseas
Current tax (expense)/income
Current period	(470)	(474)
Adjustments in respect of prior periods	93	14
Total deferred tax expense	€ (183)	€ (1,040)

Taxation - Deferred tax assets

Taxation - Deferred tax assets on losses (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Luxemberg
Income tax expense
Losses for which no deferred tax is recognised	€ 188	€ 200
Decrease in deferred tax asset due to change in tax rate		€ 868
Minimum | Luxemberg
Income tax expense
Utilisation period of tax losses (in years)	40 years
Minimum | Germany
Income tax expense
Utilisation period of tax losses (in years)	9 years
Maximum | Luxemberg
Income tax expense
Utilisation period of tax losses (in years)	45 years
Maximum | Germany
Income tax expense
Utilisation period of tax losses (in years)	16 years

Assets and liabilities held f_3

Assets and liabilities held for sale (Details) - EUR (€) € in Millions	Sep. 30, 2020	Mar. 31, 2020
Non-current assets
Goodwill	€ 31,251	€ 31,271
Other intangible assets	20,996	22,252
Plant, property and equipment	38,059	39,197
Investments in associates and joint ventures	5,428	5,831
Trade and other receivables	6,574	10,378
Current assets
Inventory	606	585
Taxation recoverable	300	275
Trade and other receivables	10,457	11,411
Cash and cash equivalents	6,612	13,284
Total current assets	27,155	32,644
Total assets held for sale	2,312	1,607
Non-current liabilities
Long-term borrowings	61,292	62,892
Deferred tax liabilities	1,986	2,043
Provisions	1,550	1,474
Total non-current liabilities	70,989	72,036
Current liabilities
Short-term borrowings	7,530	11,826
Taxation liabilities	578	671
Provisions	951	1,024
Trade and other payables	14,380	17,085
Total current liabilities	25,325	32,456
Total liabilities held for sale	€ 968	€ 1,051
Vodafone Hutchison Australia Pty Limited
Discontinued operations and assets and liabilities held for sale
Proportion of ownership interest in joint venture		24.95%
Indus Towers
Discontinued operations and assets and liabilities held for sale
Proportion of ownership interest in joint venture	42.00%
Vodafone Egypt
Discontinued operations and assets and liabilities held for sale
Proportion of ownership interest in subsidiary	55.00%	55.00%
Non current assets held for sale | Indus Towers
Discontinued operations and assets and liabilities held for sale
Proportion of ownership interest in joint venture	13.80%
Vodafone Hutchison Australia and Vodafone Egypt
Non-current assets
Goodwill	€ 100	€ 107
Other intangible assets	367	379
Plant, property and equipment	969	916
Investments in associates and joint ventures	299
Investments in associates and joint ventures		(412)
Trade and other receivables	12	15
Total non-current assets	1,747	1,005
Current assets
Inventory	14	13
Taxation recoverable	3	3
Trade and other receivables	274	313
Cash and cash equivalents	274	273
Total current assets	565	602
Total assets held for sale	2,312	1,607
Non-current liabilities
Long-term borrowings	52	57
Deferred tax liabilities	83	60
Provisions	3	5
Total non-current liabilities	138	122
Current liabilities
Short-term borrowings	175	150
Taxation liabilities	52	116
Provisions	36	29
Trade and other payables	567	634
Total current liabilities	830	929
Total liabilities held for sale	€ 968	€ 1,051

Earnings per share (Details)

Earnings per share (Details) - EUR (€) € / shares in Units, € in Millions, shares in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Weighted average number of shares for diluted earnings per share
Weighted average number of shares for basic earnings per share (in shares)	29,535	29,410
Effect of dilutive potential shares: restricted shares and share options (in shares)	75
Weighted average number of shares for diluted earnings per share (in shares)	29,610	29,410
Earnings per share attributable to owners of the parent during the period
Profit Loss Attributable to Owners of Parent from Continuing Operations	€ 1,314	€ (2,128)
Basic profit/(loss) per share	€ 4.45	€ (7.24)
Diluted profit/(loss) per share	€ 4.44	€ (7.24)

Equity dividends (Details)

Equity dividends (Details) - EUR (€) € / shares in Units, € in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Declared during the financial year:
Final dividend for the year ended 31 March 2020: 4.50 eurocents per share (2019: 4.16 eurocents per share)		€ 1,205	€ 1,112
Proposed after the end of the reporting period and not recognised as a liability:
Interim dividend for the year ending 31 March 2021: 4.50 eurocents per share (2020: 4.50 eurocents per share)		€ 1,207	€ 1,205
Declared during the financial year: (per share)
Final dividend (per share)				€ 4.50	€ 4.16
Proposed after the end of the reporting period and not recognised as a liability: (per share)
Interim dividend (per share)	€ 4.50			€ 4.50

Investment in subsidiaries - Ac

Investment in subsidiaries - Acquisitions (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jul. 31, 2019
Acquisitions
Net cash acquired		€ (122)
Total cash consideration paid and net cash acquired	€ 136	10,202
European Liberty Global assets
Acquisitions
Acquisitions during the year		10,295
Total cash consideration paid and net cash acquired			€ 10,295
Other acquisitions
Acquisitions
Acquisitions during the year	€ 136	€ 29

Investment in subsidiaries - Eu

Investment in subsidiaries - European Liberty Global assets (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020	Jul. 31, 2019
Acquisitions
Purchase of interests in subsidiaries, net of cash acquired	€ 136	€ 10,202
Cash consideration	136	10,202
European Liberty Global assets
Acquisitions
Identifiable intangible assets			€ 5,818
Property, plant and equipment			4,737
Inventory			2
Trade and other receivables			856
Other investments			2
Cash and cash equivalents			109
Current and deferred taxation			(1,904)
Short and long-term borrowings			(9,527)
Trade and other payables			(1,066)
Post employment benefits			(40)
Provisions			(178)
Net identifiable liabilities acquired			(1,191)
Goodwill			11,504
Cash outflow			€ 10,313
Customer relationships				€ 5,569
Brand				71
Software				178
Transaction costs		58
Revenue of acquiree since acquisition date		491
Loss of acquiree since acquisition date		(11)
Revenue of combined entity as if combination occurred at beginning of period		22,940
Loss of combined entity as if combination occurred at beginning of period		(481)
Cash consideration				€ 10,295
Other acquisitions
Acquisitions
Cash outflow		29
Purchase of interests in subsidiaries, net of cash acquired	€ 136
Aggregate consideration		185
Aggregate fair values of goodwill of the acquired operations		182
Aggregate fair values of assets of the acquired operations		50
Aggregate fair values of liabilities of the acquired operation		€ 47
Unitymedia GmbH
Acquisitions
Percentage of voting equity interests acquired				100.00%
Upc Hungary
Acquisitions
Percentage of voting equity interests acquired				100.00%
Upc Czech
Acquisitions
Percentage of voting equity interests acquired				100.00%

Investment in subsidiaries - Vo

Investment in subsidiaries - Vodafone New Zealand (Details) € in Millions, $ in Billions	1 Months Ended		3 Months Ended	6 Months Ended
	Jul. 31, 2019NZD ($)	Jul. 31, 2019EUR (€)	Mar. 31, 2020EUR (€)	Sep. 30, 2019EUR (€)	Sep. 30, 2020EUR (€)
Disposals
Goodwill			€ (31,271)		€ (31,251)
Property, plant and equipment			(39,197)		€ (38,059)
Net gain on transaction				€ 1,078
Vodafone New Zealand Limited
Disposals
Economic interest (as a percent)	100.00%	100.00%
Goodwill			(243)
Other intangible assets			(155)
Property, plant and equipment			(783)
Inventory			(29)
Trade and other receivables			(244)
Investments in associates and joint ventures			(4)
Current and deferred taxation			(11)
Short and long-term borrowings			215
Trade and other payables			261
Provisions			35
Net assets disposed			(958)
Net cash proceeds arising from the transaction	$ 3.4	€ 2,000	2,023
Other effects			(13)
Net gain on transaction		€ 1,100	1,078
Recycled foreign exchange losses			€ 59

Investments in associates and_3

Investments in associates and joint ventures - Summary of Investments (Details) - EUR (€) € in Millions	Sep. 30, 2020	Mar. 31, 2020
Investment in associates and joint arrangements
Investment in joint ventures	€ 5,053	€ 5,323
Investment in associates	375	508
Total investments in associates and joint arrangements	5,428	5,831
VodafoneZiggo Group Holding B.V.
Investment in associates and joint arrangements
Investment in joint ventures	1,457	1,630
INWIT S.p.A.
Investment in associates and joint arrangements
Investment in joint ventures	2,914	3,345
Indus Towers Limited
Investment in associates and joint arrangements
Investment in joint ventures	620	766
TPG Telecom Limited / Vodafone Hutchison Australia Pty Limited
Investment in associates and joint arrangements
Investment in joint ventures	22
Investment in joint ventures		(466)
Other
Investment in associates and joint arrangements
Investment in joint ventures	€ 40	48
Vodafone Idea Limited
Investment in associates and joint arrangements
Investment in joint ventures		€ 0

Investments in associates and_4

Investments in associates and joint ventures (Details) - EUR (€) € in Millions, shares in Millions	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Investment in associates and joint arrangements
Gain in relation to disposal			€ 1,078
Gain in relation to the merger		€ 1,043
INWIT S.p.A.
Investment in associates and joint arrangements
Number of shares of joint venture sold		41.7
Percentage of INWIT's share capital sold		4.30%
Consideration for sale of joint venture		€ 400
Gain in relation to disposal		€ 13
Proportion of ownership interest in joint venture		33.20%
Bharti Infratel and Indus Towers Merger
Investment in associates and joint arrangements
Proportion of ownership interest in joint venture		28.20%
TPG
Investment in associates and joint arrangements
Gain in relation to the merger		€ 1,043
Remaining economic interest (as a percent)	49.90%
TPG | Vodafone Hutchison Australia Pty Limited
Investment in associates and joint arrangements
Proportion of ownership interest in joint venture	25.05%
TPG | TPG
Investment in associates and joint arrangements
Proportion of ownership interest in joint venture	25.05%

Reconciliation of net cash fl_3

Reconciliation of net cash flow from operating activities (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Reconciliation of net cash flow from operating activities
Profit/(loss) for the financial period	€ 1,555	€ (1,891)
Investment income	(183)	(281)
Financing costs	1,610	1,369
Income tax expense	490	1,380
Operating profit	3,472	577
Adjustments for:
Share-based payments and other non-cash charges	86	78
Depreciation and amortisation	6,869	6,782
Loss on disposal of property, plant and equipment and intangible assets	14	24
Share of result of equity accounted associates and joint ventures	(260)	2,601
Other Income	(1,055)	(1,024)
Increase in inventory	(31)	(6)
Increase in trade and other receivables	(15)	(1,069)
Decrease in trade and other payables	(2,538)	(1,341)
Cash generated by operations	6,542	6,622
Taxation	(533)	(483)
Net cash flow from operating activities	€ 6,009	€ 6,139

Related party transactions (Det

Related party transactions (Details) - EUR (€) € in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Related party transactions
Contributions to defined benefit pension	€ 99	€ 11
Dividends	1,367	1,299
Associates
Related party transactions
Sales of goods and services	7	12
Purchase of goods and services	3
Trade balances owed by	3		€ 4
Trade balances owed to	3		4
Joint arrangements
Related party transactions
Sales of goods and services	100	99
Purchase of goods and services	90	88
Interest income receivable from joint arrangements1	29	45
Interest expense payable to joint arrangements2	29
Trade balances owed by	94		157
Trade balances owed to	23		37
Other balances owed by	894		1,083
Other balances owed to	1,673		€ 2,017
Board members and executive committee members
Related party transactions
Dividends	€ 1	€ 0.7

Fair value of financial instr_3

Fair value of financial instruments - Financial assets & liabilities at fair value (Details) - EUR (€) € in Millions	Sep. 30, 2020	Mar. 31, 2020
Fair value of financial instruments
Financial assets at fair value	€ 16,589	€ 24,354
Financial liabilities at fair value	5,444	4,767
Level 1
Fair value of financial instruments
Quoted debt and equity securities	3,411	2,698
Derivative financial instruments
Fair value of financial instruments
Financial liabilities at fair value	5,444	4,767
Money Market funds
Fair value of financial instruments
Financial assets at fair value	4,735	9,135
Debt and equity securities
Fair value of financial instruments
Financial assets at fair value	6,009	5,226
Derivative financial instruments
Fair value of financial instruments
Financial assets at fair value	4,815	9,176
Trade receivables at fair value through Other comprehensive income
Fair value of financial instruments
Financial assets at fair value	1,030	817
Fair value
Fair value of financial instruments
Financial assets at fair value	51,865	48,216
Financial liabilities at fair value	51,865	48,216
Carrying value
Fair value of financial instruments
Financial assets at carrying value	47,204	47,500
Financial liabilities at carrying value	€ 47,204	€ 47,500

Commitments, contingent liabi_2

Commitments, contingent liabilities and legal proceedings - Indian tax cases and Indian regulatory cases (Details) € in Millions, ₨ in Billions

Sep. 25, 2020

Oct. 24, 2019

Sep. 30, 2020INR (₨)installment

Jan. 31, 2013INR (₨)

Jan. 31, 2012

Sep. 30, 2020INR (₨)

Jul. 31, 2020INR (₨)

Jul. 31, 2020EUR (€)

Sep. 30, 2020INR (₨)

Sep. 30, 2020EUR (€)

Sep. 30, 2020EUR (€)

Mar. 31, 2020EUR (€)

Contingent liabilities and legal proceedings - Conti

Litigation period after which judgement was given VIHBV had no obligation to withhold tax from consideration paid to HTIL

5 years

Principal and interest excluding penalties on demand | ₨

₨ 142

Threshold period to decide whether to apply to the Singapore court to set aside the award

3 months

3 months

Vodafone Idea Limited

Contingent liabilities and legal proceedings - Conti

Potential exposure

₨ 84

€ 973

Cash outflow

€ 235

Percentage of payments to be made

10.00%

Interest on payments to be made thereafter

8.00%

Number of annual instalments | installment

10

Total estimated liability

₨ 654

₨ 654

₨ 654

€ 7,600

Dispute with Department of Telecommunications (DoT)

Contingent liabilities and legal proceedings - Conti

Period of demands became due and payable

3 months

Dispute with Department of Telecommunications (DoT) | Vodafone Idea Limited

Contingent liabilities and legal proceedings - Conti

Total amount paid to Department of telecommunications

₨ 78.5

€ 900

Legal regulatory case, one time spectrum charges | Vodafone India

Contingent liabilities and legal proceedings - Conti

Amount of one time spectrum charges

€ 400

Commitments, contingent liabi_3

Commitments, contingent liabilities and legal proceedings - Indus Tower merger (Details) € in Millions, shares in Millions, ₨ in Billions	6 Months Ended
	Sep. 30, 2020INR (₨)shares	Sep. 30, 2020EUR (€)	Sep. 30, 2019EUR (€)	Sep. 30, 2020EUR (€)shares
Disclosure of contingent liabilities [line items]
Initial dividend paid | €		€ 1,367	€ 1,299
Bharti Infratel and Indus Towers Merger
Disclosure of contingent liabilities [line items]
Initial dividend paid | ₨	₨ 48
Prepayment in cash	₨ 24			€ 277
Primary pledge shares owned	190.7			190.7
Primary pledge value owned	₨ 33			€ 386
Secondary pledge value owned	1,300			1,300
Maximum liability cap	₨ 42.5			€ 491

Commitments, contingent liabi_4

Commitments, contingent liabilities and legal proceedings - Other cases in the Group (Details) € in Millions, £ in Billions	Apr. 05, 2019EUR (€)	Dec. 31, 2013EUR (€)directorclaim	Aug. 31, 2019EUR (€)	Dec. 31, 2018GBP (£)
Contingent liabilities and legal proceedings - Conti
Value of claim | £				£ 1
Anti-competitive retention of customers allegations by Telecom Italia | Vodafone Italy
Contingent liabilities and legal proceedings - Conti
Amount of compensation sought by petitioner			€ 500
Dominant position and wrongful termination of franchise arrangement by Papistas, Greece
Contingent liabilities and legal proceedings - Conti
Amount of compensation sought by petitioner		€ 285.5
Amount of compensation sought by petitioner from directors		€ 1,000
Number of former directors in allegations | director		2
Number of claims filed | claim		3
Dominant position and wrongful termination of franchise arrangement by Papistas, Greece | Vodafone Greece
Contingent liabilities and legal proceedings - Conti
Amount of compensation sought by petitioner	€ 330

Subsequent events - Vodafone Eg

Subsequent events - Vodafone Egypt (Details) - Nov. 04, 2020 - Vodafone Egypt - Acquired spectrum from the National Telecommunications Regulatory Authority - Subsequent events € in Millions, $ in Millions	USD ($)item	EUR (€)
Disclosure of non-adjusting events after reporting period [line items]
Frequency of spectrum acquired in MHz	40
Frequency of spectrum available for auction in GHz	2.6
Licence term	10 years
Phase period	3 years
Initial payment for acquisition of spectrum	$ 270	€ 230
Number of further payments	2
Further payments for acquisition of spectrum	$ 135	€ 115