(*) - Vodafone Italia has closed the six months ended 30 September 2006 with
25,157,000 customers (up 8.1% on 30 September 2005), having achieved net additions in excess of
1,100,000.
Total revenue is €4,135 million. Service revenue amounts to €3,986 million, after organic service revenue
growth during the period of 3.3%, a figure that rose to 4.3% during the second quarter.
The impact of termination rate cuts and changes to the accounting treatment of certain types of revenue
(**) led to a nominal reduction of 3.4% in service revenue, compared with the comparable period of the
previous year.
Total voice minutes are up 9.7% on the six months ended 30 September 2005. Growth was above all
driven by summer promotions for both voice and messaging services, which were taken advantage of by
4.8 million customers. Voice revenue totals €3,294 million, a performance reflecting both traffic growth
and intense price competition.
Vodafone Casa has proved a great success. The offering, which enables customers to use their mobile
phone to make calls from home to any fixed-line number at no extra cost in return for payment of a
monthly charge of €9.99, was launched in May of this year and had attracted 362,000 customers by the
end of September.
At 30 September 2006 the number of UMTS handsets, phones and connect cards registered on
Vodafone's network stood at 3,682,000, having risen 25.8% on the 2,928,000 of 31 March 2006. Data
and multimedia revenue is up 5.7% to €692 million. Data and multimedia revenue during the first half rose
to 17.4% of service revenue (15.9% in the six months ended 30 September 2005).
On a like-for-like basis, EBITDA is up 1% on the first half of the previous year. Nominal EBITDA, on the
other hand, has fallen 7% due to a number of one-off events relating to the increase in the charge for use
of the Vodafone brand, termination rate cuts and the accounting separation applied to the Data Centre for
southern Europe. As a result of the same one-off events, the EBITDA margin for the current financial year
is 51.9% (down 2%).
(*) The Vodafone Italia figures in this release have been taken from the interim financial statements for the six
months ended 30 September 2006. They have been calculated by converting the figures communicated by the
Group prepared under IFRS into euros on a non-proportionate basis.
(**) As of the six months ended 30 September 2006 the accounting presentation of certain types of revenue has
been changed in order to take account of the related external costs.