Registration Statement of a Foreign Private Issuer for Securities Offered Pursuant to a Transaction — Form F-3
Filing Table of Contents
Document/Exhibit Description Pages Size
1: F-3 Voadafone Group Plc F-3 HTML 428K
2: EX-1.1 Underwriting Agreement 45 158K
3: EX-1.4 Underwriting Agreement 41 157K
4: EX-4.5 Instrument Defining the Rights of Security Holders 83 324K
5: EX-5.1 Opinion re: Legality 4 16K
6: EX-5.2 Opinion re: Legality 5 13K
7: EX-8.2 Opinion re: Tax Matters 2 8K
8: EX-12 Statement re: Computation of Ratios 2± 16K
9: EX-15 Letter re: Unaudited Interim Financial Information 1 8K
10: EX-23.1 Consent of Experts or Counsel 1 7K
11: EX-25 Statement re: Eligibility of Trustee 5 21K
EX-12 — Statement re: Computation of Ratios
EXHIBIT 12
VODAFONE GROUP PLC
COMPUTATION OF EARNINGS TO FIXED CHARGES AND EARNINGS TO FIXED CHARGES AND
PREFERENCE SHARE DIVIDENDS
{disclose ratio for last 5 fiscal years and latest interim period}
[Enlarge/Download Table]
SIX MONTHS TO
Data source Ref 30 SEPTEMBER YEAR ENDED 31 MARCH
2003 2003 2002 2001 2000 1999
(RESTATED)
UK GAAP
Fixed charges
Interest payable by subsidiaries ARA a 594 1,123 971 1,156 405 90
Payments under operating leases ARA b 243 470 345 248 354 177
Implied interest in operating leases 33% of b c 80 155 114 82 117 58
Preference dividends (pre tax cost
equivalent, assuming 35% tax rate) ARA d 40 85 94 91 62 -
------ ---------------------------------------------
Fixed charges e=a+b+c+d 715 1,363 1,179 1,329 583 148
------ ---------------------------------------------
Earnings
Profit/(loss) on ordinary activities
before tax ARA f (1,992) (6,208) (13,539) (8,086) 1,351 935
Adjusted for:
Share of operating profit/(loss) in
joint ventures and associated
undertakings ARA g 263 (156) (1,457) (550) (185) 116
Net interest payable- share of joint
ventures and associated undertakings ARA h1 (105) (295) (342) (327) (51) (18)
Profit/(loss ) on ordinary activities
before tax - discontinued operations h2 65 (272) (418) - - -
------ ---------------------------------------------
Profit/(loss) before associates,
JV's and tax i=f-g-h1-h2 (2,215) (5,485) (11,322) (7,209) 1,587 837
Add: Fixed charges e 715 1,363 1,179 1,329 583 148
Add: Cash received from associated
undertakings and joint ventures ARA j 805 742 139 353 236 3
Less: Preference dividends (pre tax
cost equivalent, assuming 35%
tax rate) d (40) (85) (94) (91) (62) -
------ ---------------------------------------------
"Earnings" k=I+e+j-d (736) (3,465) (10,098) (5,618) 2,345 989
------ ---------------------------------------------
Ratio of earnings to fixed charges k/e (1.0) (2.5) (8.6) (4.2) 4.0 6.7
Deficit (1,450) (4,828) (11,277) (6,947) - -
US GAAP
Fixed charges
Interest payable by subsidiaries ARA a 594 1,123 971 1,156 405 90
Payments under operating leases ARA b 243 470 345 248 354 177
Implied interest in operating leases 33% of b c 80 155 114 82 117 58
Preference dividends (pre tax cost
equivalent, assuming 35% tax rate) ARA d 40 85 94 91 62 -
------ ---------------------------------------------
Fixed charges e=a+b+c+d 715 1,363 1,179 1,329 583 148
------ ---------------------------------------------
Earnings
Profit/(loss) on ordinary activities
before tax ARA f (1,992) (6,208) (13,539) (8,086) 1,351 935
Adjusted for:
Share of operating profit/(loss) in joint
ventures and associated undertakings ARA g 263 (156) (1,457) (550) (185) 116
Net interest payable- share of joint
ventures and associated undertakings ARA h1 (105) (295) (342) (327) (51) (18)
Profit/(loss ) on ordinary activities
before tax - discontinued operations h2 65 (272) (418) - - -
------ ---------------------------------------------
Profit/(loss) before associates,
JV's and tax i=f-g-h1-h2 (2,215) (5,485) (11,322) (7,209) 1,587 837
UK/US GAAP Adjustments:
Goodwill amortisation charge of
subsidiary companies (3,116) (5,487) (7,288) (3,034) (113) (38)
Exceptional items (253) 270 - - - -
Connection income 12 16 (15) (54) - -
Reorganisation costs - - - 84 25 -
Profit/(loss) on sale of businesses - - (85) - 1 2
Other 12 (52) (36) (87) (9) (4)
------ ---------------------------------------------
(5,560) (10,738) (18,746) (10,300) 1,491 797
Add: Fixed charges e 715 1,363 1,179 1,329 583 148
Add: Cash received from associated
undertakings and joint ventures ARA j 805 742 139 353 236 3
Less: Preference dividends (pre tax cost
equivalent, assuming 35% tax rate) d (40) (85) (94) (91) (62) -
------ ---------------------------------------------
"Earnings" k=I+e+j-d (4,081) (8,718) (17,522) (8,709) 2,249 949
------ ---------------------------------------------
Ratio of earnings to fixed charges k/e (5.7) (6.4) (14.9) (6.6) 3.9 6.4
Deficit (4,795) (10,081) (18,701) (10,038) - -
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