Wrap Text
Quarterly update for the period ended 30 June 2016
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/005461/06)
ISIN: ZAE000132577 Share code: VOD
ISIN: US92858D2009 ADR code: VDMCY
(Vodacom)
News release
Vodacom Group Limited trading update for the quarter ended 30 June 2016
21 July 2016
Salient features
- Group service revenue up 7.3% (4.6%*) to R16 806 million with revenue up 5.8% (3.4%*) to R19 902 million
- Group active customers declined 2.6% to 61.8 million, impacted by new customer registration processes in our International markets
- Group data revenue increased 19.4% to R5 786 million, representing 34.4% of service revenue
- South Africa sustained robust service revenue growth of 5.6% to R12 426 million
- South Africa delivered strong active customer growth, up 5.4% to 35.1 million, adding just under 1 million customers in the quarter
- International service revenue increased 13.5% (2.8%*) to R4 479 million; impacted by new customer registration processes
- Group capital expenditure for the three month period at R2 705 million, equivalent to13.6% of Group revenue
Quarter ended Yoy % change
Rm June 2016 Reported Normalised*
Group revenue 19 902 5.8 3.4
South Africa 15 443 4.0 4.0
International 4 620 12.8 1.9
Group service revenue 16 806 7.3 4.6
South Africa 12 426 5.6 5.6
International 4 479 13.5 2.8
Shameel Joosub, Vodacom Group CEO commented:
Our strong performance last year has continued into the first quarter of our new financial year and is reflective of the successful
execution of our well-planned strategy. Despite the tougher economic environment in most of the countries in which we operate, the
Group delivered robust service revenue growth of 7.3%.
One of the major highlights this quarter is the stellar number of customer additions in South Africa in both postpaid and prepaid, where we
added almost one million customers. This can largely be attributed to the significant investments that we continue to make in infrastructure
to sustain our competitive advantage to deliver the best network, superior customer service and great value to our customers through
innovation such as our personalised Just 4 You offers. A combination of these factors also means that our Net Promoter Scores continue
to track well ahead of our competitors and shows that our CARE initiative, aimed at maximising the customer experience, is gathering
momentum. A prime example of this is the expanded functionality that we have built into the MyVodacom App.
Customer demand for data remains robust with data revenue growth of 18% in South Africa as we continue to drive a worry-free experience
through in-bundle offers having introduced an innovative solution that more effectively notifies customers when bundles are depleted. The
16% reduction in effective price per megabyte underscores our commitment to providing customers with great value, as does the recent
launch of new Vodacom branded devices, which includes our first premium smartphone, the Smart Platinum 7.
As expected, our International operations have been impacted by new customer registration processes which was offset by
currency gains. This resulted in growth of 13.5% (2.8%*). We remain committed to actively bedding down new customer registration
processes in the various markets in which we operate. M-Pesa is performing very well in our International operations with an increase in
active customers of 34.7% to 10.6 million. M-Pesa revenue has grown 47.5% to R500 million. Importantly, both Mozambique and the DRC
have reached a critical mass of 1.4 million customers each.
We welcome the announcement made by the Independent Communications Authority of South Africa on 15 July 2016, inviting operators to participate
in an auction of much-needed spectrum. This is a major progressive step for the economy, South Africa's telecommunications industry and
the country as a whole. The allocation of spectrum will be transformative from a broadband access perspective and is expected to make
reaching the goals set out by government's SA Connect policy more achievable.
* Normalised growth adjusted at a constant currency using the current year as the base.Refer below for a reconciliation of adjustments.
All growth rates quoted are year-on-year growth rates and refer to the quarter ended 30 June 2016 compared to the quarter ended
30 June 2015, unless stated otherwise.
1.The number of unique customers who have generated revenue related to M-Pesa in the past 90 days, of these 8.3 million have
been active in the past 30 days in the International operations.
Operating review
South Africa
South Africa sustained robust service revenue growth of 5.6% to R12 426 million, despite increasing pressure on consumer spending.
Growth was supported by strong customer additions, high demand for data services and improved voice revenue growth trends. Revenue
was up 4.0% to R15 443 million as a result of a 3.9% decline in equipment revenue. This was driven by lower sales volumes, albeit improved
from previous quarter. In the prior year the tablet and entry smartphone segment was boosted by strong sales volumes of the Vodacom
branded 3G tablet and Smart Kicka smartphone.
Our superior network and value propositions continue to draw new customers, with total active customers up 5.4% to 35.1 million. Active
prepaid customers increased 883 thousand in the quarter to 30.1 million. This is largely due to the continued success of our Just 4 You
propositions. Prepaid ARPU is down 3.2% to R60, affected by the increase in lower ARPU customers. Active contract customers have
increased by 51 thousand in the quarter and churn improved to 5.3% as customer satisfaction remains well ahead of our competitors.
Contract ARPU increased 5.2% to R401 as data demand continues to grow. We now have 14.9 million customers using bundles and we sold
329 million bundles in the first three months. We continue to improve our lead on net promoter score and we now lead by 16 points to our
nearest competitor.
Data revenue increased 18.0% to R4 691 million and now contributes 37.8% to service revenue (Q1 2016: 33.8%). Strong demand for
data has resulted in data customers increasing 6.1% to 18.8 million. Data bundle sales increased 52.1%, largely due to the take-up of more
affordable daily bundles, resulting in a 15.6% decline in the price per megabyte. Average monthly data usage by customers on smart
devices grew by 19.6% to 632MB in the quarter. Active smart devices on the network was up 18.0% to 14.1 million, 3.1 million of which are
using LTE/4G. We have introduced a range of new high quality, reasonably priced Vodacom branded devices. These will offset impacts from
currency depreciation and improve access to affordable devices. These devices will be available from next quarter.
Enterprise service revenue was up 11.6% and contributes 24.4% (Q1 2016: 22.4%) to South Africa service revenue. Mobile customer
revenue was up 9.5% and fixed-line and business managed services increased by 22.6%. The growth in fixed-line and business managed
services has primarily been driven by our IPVPN (Internet protocol virtual private network) and cloud and hosting services as enterprises
begin to migrate to the cloud at an accelerated rate. Internet of Things (IoT) connections increased 30.6% to 2.5 million. In June we
increased our shareholding in X-Link to 100%. This will enable us to execute across the full IoT value chain by developing new IoT verticals,
whilst using X-link as managed services provider.
Capital expenditure of R1 893 million has enabled us to further expand our network coverage, increase data speed and reduce our
dropped-call rate. Our 3G network covered 99% of the population and LTE/4G 64% (Q1 2016: 41%) of the population.
International
Service revenue grew by 13.5% (2.8%*) contributing 26.7% of Group service revenue. Growth in the International operations have been
impacted by new customer registration processes and competition.
Total active customers decreased 11.5% to 26.7 million in the quarter. The impact of customer registration processes on new customer
activations has negatively affected net customer additions mainly in Mozambique and the DRC. The monthly customer growth trend
has started to improve as acquisition procedures become more efficient across all channels. Net customer additions has turned positive
towards the latter part of the quarter in most operations.
Data revenue increased 25.7% to R1 095 million. 40.9% (Q1 2016: 34.1%) of active customers are using data. Data is our key growth area
and now comprises 24.4% (Q1 2016: 22.1%) of International service revenue supported by increased sales of smart devices and improved
network quality and coverage.
M-Pesa continues to gain momentum in all our markets, with active customers of 10.6 million, up 34.7% and revenue up 47.5%. DRC
reached a milestone of 1.4 million active M-Pesa customers in the quarter. M-Pesa in Mozambique grew strongly with 30% of the
active customer base using the service and with an increase in the number of transactions per customer as the service achieves critical
mass in both these operations. In Tanzania, M-Pawa (savings and loan product) customers represent 13.2% of active M-Pesa customers.
We continue to invest significantly in our International operations with capital expenditure of R809 million in the quarter. This enables us to
strengthen network and service differentiation. Tanzania launched LTE/4G in May, currently operating in the capital.
Financial review
Revenue for the quarter ended1
30 June 31 March 30 June Yoy % change Quarterly % change
Rm 2016 2016 2015 Reported Normalised* Reported Normalised*
South Africa 15 443 15 640 14 845 4.0 4.0 (1.3) (1.3)
International 4 620 5 086 4 095 12.8 1.9 (9.2) (1.6)
Corporate and eliminations (161) (173) (134) (20.1) (20.1) (6.9) (6.9)
Revenue 19 902 20 553 18 806 5.8 3.4 (3.2) (1.3)
Service revenue for the quarter ended
30 June 31 March 30 June Yoy % change Quarterly % change
Rm 2016 2016 2015 Reported Normalised* Reported Normalised*
South Africa 12 426 12 503 11 762 5.6 5.6 (0.6) (0.6)
International 4 479 4 903 3 945 13.5 2.8 (8.6) (1.3)
Corporate and eliminations (99) (111) (47) (110.6) (110.6) (10.8) (10.8)
Service revenue 16 806 17 295 15 660 7.3 4.6 (2.8) (0.7)
Revenue for the quarter ended 30 June 2016
South Africa Yoy % International Yoy % Corporate/ Group Yoy %
Rm change change Eliminations change
Mobile contract revenue 5 738 5.7 345 29.7 (1) 6 082 6.8
In bundle2, 3 4 129 7.7 55 (12.7) - 4 184 7.3
Out of bundle4 1 609 0.9 290 42.9 (1) 1 898 5.7
Mobile prepaid revenue 5 149 5.3 3 280 13.0 1 8 430 8.2
In bundle2, 4 1 189 30.7 469 60.1 - 1 658 37.8
Out of bundle5 3 960 (0.5) 2 811 7.7 1 6 772 2.7
Mobile customer revenue 10 887 5.5 3 625 14.4 - 14 512 7.6
Mobile interconnect 455 (9.5) 380 13.4 (36) 799 (1.1)
Other service revenue 1 084 15.6 474 7.5 (63) 1 495 9.7
Service revenue 12 426 5.6 4 479 13.5 (99) 16 806 7.3
Equipment revenue 2 732 (3.9) 85 (13.3) (17) 2 800 (4.2)
Non-service revenue 285 19.2 56 7.7 (45) 296 32.1
Revenue 15 443 4.0 4 620 12.8 (161) 19 902 5.8
Included in service revenue
Mobile voice 5 774 (2.0) 2 424 13.0 - 8 198 2.0
Mobile data 4 691 18.0 1 095 25.7 - 5 786 19.4
Mobile messaging 607 (4.0) 112 (28.7) - 719 (8.9)
Notes:
1. Prior year South Africa and Group revenue numbers have been restated. This change is further explained in our annual results for the
year ended 31 March 2016 available on www.vodacom.com.
2. Mobile in bundle revenue: Represents revenue from bundles that include a specified number of minutes, messages or megabytes of data
that can be used for no additional charge, with some expectation of recurrence.
3. Mobile in bundle revenue - Contract: Revenue from all bundles and add-ons lasting 30 days or more.
4. Mobile in bundle revenue - Prepaid: Revenue from bundles lasting seven days or more.
5. Out of bundle: Revenue from minutes, messages or megabytes of data which are in excess of the amount included in customer bundles.
Revenue for the quarter ended 30 June 2015
South Africa International Corporate/ Group
Rm Eliminations
Mobile contract revenue 5 430 266 (1) 5 695
In bundle 3 835 63 1 3 899
Out of bundle 1 595 203 (2) 1 796
Mobile prepaid revenue 4 891 2 903 - 7 794
In bundle1 910 293 - 1 203
Out of bundle 3 981 2 610 - 6 591
Mobile customer revenue 10 321 3 169 (1) 13 489
Mobile interconnect 503 335 (30) 808
Other service revenue 938 441 (16) 1 363
Service revenue 11 762 3 945 (47) 15 660
Equipment revenue2 2 844 98 (20) 2 922
Non-service revenue 239 52 (67) 224
Revenue2 14 845 4 095 (134) 18 806
Included in service revenue
Mobile voice 5 891 2 146 (2) 8 035
Mobile data 3 975 871 - 4 846
Mobile messaging 632 157 - 789
Notes:
1. The International and Group prepaid in bundle and out of bundle revenue has been restated in line with Group policy.
2. South Africa and Group equipment revenue and revenue numbers have been restated. This change is further explained in our annual
results for the year ended 31 March 2016 available on www.vodacom.com.
Key indicators
South Africa
30 June 31 March 30 June Yoy Quarterly
2016 2016 2015 % change % change
Active customers1 (thousand) 35 112 34 178 33 309 5.4 2.7
Prepaid 30 148 29 265 28 368 6.3 3.0
Contract 4 964 4 913 4 941 0.5 1.0
Active data customers2 (thousand) 18 830 18 704 17 741 6.1 0.7
Internet of Things connections3 (thousand) 2 515 2 264 1 925 30.6 11.1
MOU per month4 134 134 124 8.1 -
Prepaid 124 125 113 9.7 (0.8)
Contract 190 191 184 3.3 (0.5)
Total ARPU5 (rand per month) 109 112 110 (0.9) (2.7)
Prepaid 60 62 62 (3.2) (3.2)
Contract 401 404 381 5.2 (0.7)
Traffic6 (millions of minutes) 13 939 13 699 12 181 14.4 1.8
Outgoing 11 575 11 352 9 856 17.4 2.0
Incoming 2 364 2 347 2 325 1.7 0.7
Notes:
1. Active customers are based on the total number of mobile customers using any service during the last three months. This includes
customers paying a monthly fee that entitles them to use the service even if they do not actually use the service and those customers
who are active whilst roaming.
2. Active data customers are the number of unique users who have generated revenue related to any data activities in the reported month
(this excludes SMS and MMS messaging users). A unique user is a customer who is only counted once regardless of what data services
they have utilised.
3. Internet of Things (IoT) is a network of connections which allows for a "many-to-many" relationship resulting in a bi-directional flow of
information, enabling this ecosystem to operate without human interventions.
4. Minutes of use (MOU) per month is calculated by dividing the average monthly minutes (traffic) during the period by the average
monthly active customers during the period.
5. Total ARPU is calculated by dividing the average monthly service revenue during the period by the average monthly active customers.
Prepaid and contract ARPU only include service revenue generated from Vodacom mobile customers.
6. Traffic comprises total traffic registered on Vodacom's mobile network, including bundled minutes, promotional minutes and outgoing
international roaming calls, but excluding national roaming calls, incoming international roaming calls and calls to free services.
International
30 June 31 March 30 June Yoy Quarterly
2016 2016 2015 % change % change
Active customers1 (thousand) 26 722 27 127 30 193 (11.5) (1.5)
Tanzania 12 060 12 375 11 996 0.5 (2.5)
DRC 8 486 8 527 11 922 (28.8) (0.5)
Mozambique 4 817 4 826 5 031 (4.3) (0.2)
Lesotho 1 359 1 399 1 244 9.2 (2.9)
Active data customers2 (thousand) 10 919 10 055 10 292 6.1 8.6
Tanzania 5 440 5 415 5 501 (1.1) 0.5
DRC 2 885 1 996 2 332 23.7 44.5
Mozambique 2 112 2 112 2 046 3.2 -
Lesotho 482 532 413 16.7 (9.4)
MOU per month3
Tanzania 158 124 120 31.7 27.4
DRC 50 40 34 47.1 25.0
Mozambique 109 111 97 12.4 (1.8)
Lesotho 79 78 68 16.2 1.3
Total ARPU4 (rand per month)
Tanzania 40 41 36 11.1 (2.4)
DRC 58 52 35 65.7 11.5
Mozambique 56 61 51 9.8 (8.2)
Lesotho 62 59 62 - 5.1
Total ARPU4 (local currency per month)
Tanzania (TZS) 5 876 5 631 6 046 (2.8) 4.4
DRC (USD) 3.9 3.3 2.9 34.5 18.2
Mozambique (MZN) 207 185 154 34.4 11.9
Notes:
1. Active customers are based on the total number of mobile customers using any service during the last three months. This includes
customers paying a monthly fee that entitles them to use the service even if they do not actually use the service and those customers
who are active whilst roaming.
2. Active data customers are the number of unique users who have generated revenue related to any data activities in the reported month
(this excludes SMS and MMS messaging users). A unique user is a customer who is only counted once regardless of what data services
they have utilised.
3. Minutes of use (MOU) per month is calculated by dividing the average monthly minutes (traffic) during the period by the average
monthly active customers during the period.
4. Total ARPU is calculated by dividing the average monthly service revenue during the period by the average monthly active customers.
Historical financial review
Revenue1
30 June 31 March 31 December 30 September 30 June 31 March 31 December
Rm 2016 2016 2015 2015 2015 2015 2014
South Africa 15 443 15 640 16 348 15 446 14 845 15 102 15 239
International 4 620 5 086 4 740 4 435 4 095 4 081 4 092
Corporate and eliminations (161) (173) (115) (136) (134) (165) (86)
Revenue 19 902 20 553 20 973 19 745 18 806 19 018 19 245
Service revenue
30 June 31 March 31 December 30 September 30 June 31 March 31 December
Rm 2016 2016 2015 2015 2015 2015 2014
South Africa 12 426 12 503 12 707 12 348 11 762 11 739 11 856
International 4 479 4 903 4 581 4 334 3 945 3 950 3 975
Corporate and eliminations (99) (111) (64) (98) (47) (62) (16)
Service revenue 16 806 17 295 17 224 16 584 15 660 15 627 15 815
Historical key indicators
South Africa
30 June 31 March 31 December 30 September 30 June 31 March 31 December
2016 2016 2015 2015 2015 2015 2014
Active customers2 (thousand) 35 112 34 178 34 103 33 745 33 309 32 115 31 379
Prepaid 30 148 29 265 29 206 28 821 28 368 27 202 26 479
Contract 4 964 4 913 4 897 4 924 4 941 4 913 4 900
Active data customers3
(thousand) 18 830 18 704 19 099 17 811 17 741 16 595 16 751
Internet of Things connections4
(thousand) 2 515 2 264 2 174 2 057 1 925 1 766 1 677
MOU per month5 134 134 138 130 124 129 130
Prepaid 124 125 129 119 113 118 120
Contract 190 191 192 189 184 188 188
Total ARPU6 (rand per month) 109 112 116 112 110 113 116
Prepaid 60 62 66 63 62 64 67
Contract 401 404 409 393 381 374 386
Traffic7 (millions of minutes) 13 939 13 699 13 964 13 073 12 181 12 158 12 402
Outgoing 11 575 11 352 11 516 10 670 9 856 9 741 9 827
Incoming 2 364 2 347 2 448 2 403 2 325 2 417 2 575
Notes:
1. Prior year South Africa and Group revenue numbers have been restated. This change is further explained in our annual results for the
year ended 31 March 2016 available on www.vodacom.com.
2. Active customers are based on the total number of mobile customers using any service during the last three months. This includes
customers paying a monthly fee that entitles them to use the service even if they do not actually use the service and those customers
who are active whilst roaming.
3. Active data customers are the number of unique users who have generated revenue related to any data activities in the reported month
(this excludes SMS and MMS messaging users). A unique user is a customer who is only counted once regardless of what data services
they have utilised.
4. Internet of Things (IoT) is a network of connections which allows for a "many-to-many" relationship resulting in a bi-directional flow of
information enabling this ecosystem to operate without human interventions.
5. Minutes of use (MOU) per month is calculated by dividing the average monthly minutes (traffic) during the period by the average
monthly active customers during the period.
6. Total ARPU is calculated by dividing the average monthly service revenue during the period by the average monthly active customers.
Prepaid and contract ARPU only include service revenue generated from Vodacom mobile customers.
7. Traffic comprises total traffic registered on Vodacom's mobile network, including bundled minutes, promotional minutes and outgoing
international roaming calls, but excluding national roaming calls, incoming international roaming calls and calls to free services.
International
30 June 31 March 31 December 30 September 30 June 31 March 31 December
2016 2016 2015 2015 2015 2015 2014
Active customers1
(thousand) 26 722 27 127 31 130 31 373 30 193 29 533 29 676
Tanzania 12 060 12 375 12 714 12 521 11 996 12 172 11 810
DRC 8 486 8 527 11 814 12 118 11 922 11 216 11 493
Mozambique 4 817 4 826 5 240 5 464 5 031 4 877 5 049
Lesotho 1 359 1 399 1 362 1 270 1 244 1 268 1 324
Active data customers2
(thousand) 10 919 10 055 11 231 10 496 10 292 9 878 9 749
Tanzania 5 440 5 415 5 727 5 553 5 501 5 265 5 160
DRC 2 885 1 996 2 806 2 297 2 332 2 338 2 324
Mozambique 2 112 2 112 2 178 2 219 2 046 1 879 1 817
Lesotho 482 532 520 427 413 396 448
MOU per month3
Tanzania 158 124 130 123 120 123 154
DRC 50 40 39 43 34 33 45
Mozambique 109 111 105 104 97 89 111
Lesotho 79 78 83 73 68 63 69
Total ARPU4 (rand per month)
Tanzania 40 41 39 38 36 39 43
DRC 58 52 41 39 35 32 30
Mozambique 56 61 54 51 51 51 55
Lesotho 62 59 65 62 62 60 58
Total ARPU4 (local currency
per month)
Tanzania (TZS) 5 876 5 631 5 957 6 265 6 046 5 952 6 593
DRC (USD) 3.9 3.3 2.9 3.0 2.9 2.7 2.7
Mozambique (MZN) 207 185 180 157 154 146 156
Notes:
1. Active customers are based on the total number of mobile customers using any service during the last three months. This includes
customers paying a monthly fee that entitles them to use the service even if they do not actually use the service and those customers
who are active whilst roaming.
2. Active data customers are the number of unique users who have generated revenue related to any data activities in the reported month
(this excludes SMS and MMS messaging users). A unique user is a customer who is only counted once regardless of what data services
they have utilised.
3. Minutes of use (MOU) per month is calculated by dividing the average monthly minutes (traffic) during the period by the average\
monthly active customers during the period.
4. Total ARPU is calculated by dividing the average monthly service revenue during the period by the average monthly active customers.
Prepaid and contract ARPU only include service revenue generated from Vodacom mobile customers.
Reconciliation of normalised growth
The reconciliation represents normalised growth at a constant currency (using the current period as the base) from on-going operations.
The presentation of the pro-forma constant currency information from on-going operations is the responsibility of the directors of Vodacom
Group Limited. The purpose of presenting this information is to assist the user in understanding the underlying growth trends in these
segments. It has been prepared for illustrative purposes only and may not fairly present the financial position, changes in equity, and results
of operations or cash flows of Vodacom Group Limited. This information has not been reviewed and reported on by the Group's auditors.
Year-on-year reconciliation
Translation foreign
Reported1 exchange2 Normalised
% change ppt % change
Revenue
Group 5.8 (2.4) 3.4
International 12.8 (10.9) 1.9
Service revenue
Group 7.3 (2.7) 4.6
International 13.5 (10.7) 2.8
Quarter-on-quarter reconciliation
Translation foreign
Reported3 exchange4 Normalised
% change ppt % change
Revenue
Group (3.2) (1.9) (1.3)
International (9.2) (7.6) (1.6)
Service revenue
Group (2.8) (2.1) (0.7)
International (8.6) (7.3) (1.3)
Notes:
1. The reported percentage change relates to the quarter to date year-on-year percentage growth between 30 June 2015 and 30 June
2016. The Group's presentation currency is the South African rand. Our International operations utilise a number of functional currencies,
for example the United States dollar, Tanzanian shilling, Mozambican metical, Nigerian naira and Zambian kwacha. The prevailing ex
change rates for the current and comparative periods are disclosed below.
2. Translation foreign exchange arises from the translation of the results, at average rates, of subsidiaries' functional currencies to
Vodacom's presentation currency, being rand. The exchange variances are eliminated by applying the quarter 30 June 2016 average
rate (which is derived by dividing the individual subsidiary's translated rand value with the functional currency for the quarter) to 30 June
2015 quarter numbers, thereby giving a user a view of the performance which excludes exchange rate variances. The prevailing
ex change rates for the current and comparative quarters are disclosed below.
3. The reported percentage change relates to the quarter to date quarter on quarter percentage growth between 31 March 2016 and 30
June 2016. The Group's presentation currency is the South African rand. Our International operations utilise a number of functional
currencies, for example the United States dollar, Tanzanian shilling, Mozambican metical, Nigerian naira and Zambian kwacha. The
prevailing exchange rates for the current and comparative periods are disclosed below.
4. Translation foreign exchange arises from the translation of the results, at average rates, of subsidiaries' functional currencies to
Vodacom's presentation currency, being rand. The exchange variances are eliminated by applying the quarter 30 June 2016 average rate
(which is derived by dividing the individual subsidiary's translated rand value with the functional currency for the quarter) to 31 March
2016 numbers, thereby giving a user a view of the performance which excludes exchange variances. The prevailing exchange rates for
the current and comparative quarters are disclosed below.
Average quarterly exchange rates
30 June 31 March 30 June Yoy Quarterly
2016 2016 2015 % change % change
USD/ZAR 15.00 15.83 12.08 24.2 (5.2)
ZAR/MZN 3.71 3.05 3.03 22.4 21.6
ZAR/TZS 146.11 138.11 168.43 (13.3) 5.8
EUR/ZAR 16.94 17.45 13.37 26.7 (2.9)
The quarterly information has not been audited or reviewed by Vodacom's external auditors.
Trademarks
Vodafone, the Vodafone logo, Vodafone Mobile Broadband, Vodafone WebBox, Vodafone Passport, Vodafone live!, Power to You, Vodacom,
Vodacom M-Pesa, Vodacom Millionaires, Vodacom 4 Less and Vodacom Change the World are trademarks of Vodafone Group Plc (or have
applications pending). Other product and company names mentioned herein may be the trademarks of their respective owners.
Forward-looking statements
This update which sets out the quarterly results for Vodacom Group Limited for the three months ended 30 June 2016, contains 'forward-
looking statements', which have not been reviewed or reported on by the Group's auditors, with respect to the Group's financial condition,
results of operations and businesses and certain of the Group's plans and objectives. In particular, such forward-looking statements include
statements relating to: the Group's future performance; future capital expenditures, acquisitions, divestitures, expenses, revenues, financial
conditions, dividend policy, and future prospects; business and management strategies relating to the expansion and growth of the Group;
the effects of regulation of the Group's businesses by governments in the countries in which it operates; the Group's expectations as to the
launch and roll out dates for products, services or technologies; expectations regarding the operating environment and market conditions;
growth in customers and usage; and the rate of dividend growth by the Group.
Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'will', 'anticipates',
'aims', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans' or 'targets'. By their nature, forward-looking statements are inherently
predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in
the future, involve known and unknown risks, uncertainties and other facts or factors which may cause the actual results, performance or
achievements of the Group, or its industry to be materially different from any results, performance or achievement expressed or implied by
such forward-looking statements. Forward-looking statements are not guarantees of future performance and are based on assumptions
regarding the Group's present and future business strategies and the environments in which it operates now and in the future.
All subsequent oral or written forward-looking statements attributable to the Group or any member thereof or any persons acting on their
behalf are expressly qualified in their entirety by the cautionary statements above and below. Vodacom expressly disclaims any liability in
respect of the content of any forward looking statement and also expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained herein or to reflect any change in their expectations with regard thereto
or any change in events, conditions or circumstances on which any such forward-looking statement is based.
Sponsor: UBS South Africa (Pty) Limited
ADR depository bank: Deutsche Bank Trust Company Americas
Date: 21/07/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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