Trading Statement Q3 2015 FINAL

Vodacom Group Limited
Quarterly update for the period ended 31 December 2014

(Incorporated in the Republic of South Africa)
(Registration number 1993/005461/06)
Share code VOD
ISIN ZAE000132577
JSE code VOD008 ISIN ZAG000106063
ADR code VDMCY ISIN US92858D2009
News release
Vodacom Group Limited quarterly update for the period ended 31 December 2014
4 February 2015
Salient features
Group revenue decreased 1.1% (-2.2%*) to R19 993 million with service revenue down 2.7% (-3.9%*) to R15 815 million
Excluding the impact of the 50% cut in mobile termination rates (MTRs) in South Africa, Group revenue increased 1.5% and
service revenue increased 0.6%
Group data revenue increased 19.9% to R4 330 million, representing 27.4% of service revenue
Group active customers increased 9.1% to 61.1 million and active data customers grew 16.4% to 26.5 million
International operations service revenue increased 7.6% (1.9%*) to R3 975 million representing 25.1% of Group service revenue
Strong progress on accelerated capital expenditure programme with 15.0% of Group revenue spent for the quarter to speed up
LTE rollout and to expand 3G coverage
Rm
Quarter ended
December 2014
Year on year % change

Reported
Normalised*
Quarter on quarter1 % change

Reported
Normalised*
Revenue
South Africa
International
Service revenue
19 993
15 987
4 092
15 815
(1.1)
(3.1)
6.6
(2.2)
(3.1)
0.8
3.8
3.9
2.7
3.3
3.9
0.5
(2.7)
(3.9)
(0.1)
(0.6)
South Africa
International
11 856
3 975
(5.8)
7.6
(5.8)
1.9
(1.2)
2.6
(1.2)
(0.5)
Shameel Joosub, Vodacom Group CEO commented:

We added 5.1 million customers in comparison to last year, taking our total customer base to 61.1 million. Despite this increase in
customers, its still been a challenging quarter with Group revenue down 1.1%. There was a significant impact from the 50% decline in
mobile termination rates in South Africa, increased competition and were seeing increased pressure on consumer spending. Revenue
in South Africa declined 3.1%; excluding the impact from MTRs revenue would have remained flat. The international operations
posted a 6.6% increase in revenue.
Data was once again a key highlight, with active data customers up 16.4% to 26.5 million and data traffic growing 62.2% in South
Africa and an almost threefold increase in the international operations. Data now makes up 27.4% of service revenue.
To support this boom in data demand as well as increase our coverage footprint, we continued with our accelerated capital
expenditure programme. In South Africa, Vodacoms LTE service now covers 34% of the population through 2 194 sites, while 3G
population coverage is 94% through 8 407 sites. In our international operations, weve increased the number of 3G sites by 52.7% in
comparison to last year, and the number of 2G sites is up 27.2%.
Despite difficult trading conditions, we are continuing to invest in our networks and business, because we believe it supports our
network quality and growth aspirations which will deliver positive returns for our shareholders.
Were continuing to work through the approvals process for the acquisition of Neotel. South Africas fixed broadband penetration level
is 1/10th of that seen in developed economies, which impacts our competitiveness as a nation. If the transaction goes through, our
ambition is to add at least one million fibre connections to homes and businesses to address this shortfall. By boosting investment in
Neotel, were convinced we can play a major part in helping Government reach its 2020 and 2030 broadband targets.
* Represents normalised growth at a constant currency (using current period as base). Refer to page 10 for a reconciliation of normalised growth.
1. Quarter on quarter represents Q315 performance against Q215
All growth rates refer to the quarter compared to prior year same quarter unless stated otherwise.
Page 1 of 11

Operating review
South Africa
Revenue declined 3.1% to 15 987 million (up 3.9% on Q2 2015) with 8.9% growth in equipment revenue from increased handset sales
offset by a decline in service revenue. Growth in Q2 was positively impacted by a once-off R325 million# accounting estimate change;
excluding this impact revenue grew 6.2% over Q2 2015.
Service revenue declined 5.8% (up 1.6%# on Q2 2015) due to the 50% cut in MTRs in April 2014 and by increased competition and
weaker consumer spending. Excluding the impact of MTRs service revenue declined 1.7%.
Our strategy to transform pricing through integrated packages for contract customers and low cost bundles for the prepaid segment
is well advanced. We reduced our blended price per minute by 21.3% to 63 cents (Q3 2014:80 cents) and grew outgoing voice traffic
by 10.1%.
We have migrated 74.2% of our contract customers to integrated plans. 45.6% of Top Up customers have switched to our uChoose
packages which give customers access to integrated plans with the option to access prepaid promotions on an ad hoc basis. 68.9% of
contract revenue is in bundle with a slight ARPU decline of 1.8%. Excluding interconnect, ARPU increased 1.1%. Notably, Contract
ARPU has stabilised quarter on quarter and we have reduced contract churn to its lowest levels ever at 7.8%. Active contract
customers increased 1.2% to 4.9 million (excluding machine to machine (M2M)) to grow mobile contract customer revenue 1.5% to
R5 418 million after four successive quarters of declines.
The number of prepaid customers using bundles grew 18.8% to 6.2 million and we sold over 50 million prepaid bundles per month in
the quarter. Active prepaid customers increased 1.4% year on year to 26.5 million. We took actions to decrease flow of starter packs to
the market to reduce rotation of sim cards. This reduced our number of gross connections resulting in a reduction of our prepaid base
of 1.3 million customers in the quarter. Mobile prepaid customer revenue declined 7.6% to R5 032 million due to 16.3% decline in
ARPU driven by increasing macroeconomic challenges; however we achieved flat ARPU quarter on quarter.
We delivered encouraging growth in new business segments. Business managed services revenue grew 27.4% and active M2M
connections increased 17.1% to 1.6 million. We continue to utilise the Vodafone Global Enterprise network and the Vodafone global
M2M platform to increase the scale to our enterprise services.
Data revenue grew 18.8% to R3 526 million, against exceptionally strong data growth in Q3 last year, to make up 29.7%
(Q3 2014: 23.6%) of service revenue. Data traffic increased 62.2% and active data customers (excluding M2M) increased to 16.8
million or 53.4% of our active customers. Although our effective price per MB reduced by 26.5%, we maintained stable pricing quarter
on quarter. We also drove data adoption by increasing the number of data capable devices on our network through our handset
financing programme and through strong sales of our low cost devices. The number of active smartphones and tablets on our network
grew 23.6% to 9.5 million devices. Average monthly data usage was up 41.1% to 358 MB on smartphones.
The relaunch of m-pesa in August 2014 is progressing well. We currently have approximately 700k registered users. Our priority is to
continue increasing awareness and to widen the m-pesa ecosystem.
We maintained our tight cost management to mitigate the impact of the steep MTR reductions. We have achieved further
improvements in our opex and direct expenses.
We are progressing well with our accelerated capital investment programme. We more than doubled the number of LTE sites to 2 194
and increased 3G sites by 22.4% to 8 407. Our LTE network now covers 34% of the population and our 3G network covers 94% of the
population. 77.8% of our sites are now connected to our self-provided high capacity transmission network. We also launched our fibre
to the business (FTTB) on a limited basis in September 2014.
We still await ICASA and Competition Commission approvals to complete the Neotel acquisition.
# In Q2 2015 we changed our accounting estimate relating to revenue recognition of un-recharged vouchers resulting in a once off positive adjustment of R325 million in
South Africa in that quarter.
Page 2 of 11

International
International service revenue grew 7.6% (1.9%*) to R3 975 million to now contribute 25.1% (Q3 2014: 22.7%) of Group service
revenue. Our International customer base increased 18.6% to 29.7 million and outgoing voice traffic grew 49.8%. The slower growth in
service revenue reflects the on-going price competition and regulatory pressures in our key markets. Tanzania experienced severe
pricing pressures since Q3 last year, but during the course of this year pricing repair has led to more stable pricing. Growth in the DRC
reduced due to slower than anticipated network rollout and competitive pressures. Mozambique and Lesotho continue to grow
strongly.
Data revenue grew 24.8% to R804 million. Excluding m-pesa, mobile data revenue grew 22.1% supported by a 30.7% growth in active
data customers to 9.7 million and an almost threefold increase in data traffic.
M-pesa revenue grew 28.2% contributing 9.4% of service revenue. M-pesa customers increased 29.7% to 7.6 million1 reflecting strong
uptake in all our markets. We continue to expand the ecosystem to drive up the volume and value of m-pesa transactions. In Tanzania,
we now have more than 1.3 million customers using our m-pawa savings and loans service resulting in a 7% uplift in m-pesa ARPU
after launch in September 2014.
Our continued investment in network capacity and coverage remains on track. We increased the number of 3G sites by 52.7% to
further support the strong growth of mobile data and we increased the number of 2G sites by 27.2% to extend our voice coverage.
The quarterly information has not been audited or reviewed by Vodacoms external auditors.
1. Number of unique customers who have generated revenue related to any m-pesa activities in relation to m-pesa revenue during the last three months. Of these, 5.5 million
(Q3 2014: 4.4 million) have been active in the past 30 days.
Page 3 of 11

Financial review
Revenue for the quarter ended
December
2014
Rm
South Africa
International
Corporate and eliminations
Revenue
15 987
4 092
(86)
19 993
September
2014
15 380
3 984
(105)
19 259
December
2013

Reported Normalised*
16 502
3 838
(121)
20 219
Quarterly % change
(3.1)
6.6
(28.9)
(3.1)
0.8
(28.9)
3.9
2.7
(18.1)
3.9
0.5
(18.1)
(1.1)
(2.2)
3.8
3.3
Service revenue for the quarter ended

December
2014
September
2014
South Africa
International
11 856
3 975
(16)
11 995
3 873
(40)
12 587
3 695
(34)
(5.8)
7.6
(52.9)
(5.8)
1.9
(52.9)
(1.2)
2.6
(60.0)
(1.2)
(0.5)
(60.0)
Service revenue
15 815
15 828
16 248
(2.7)
(3.9)
(0.1)
(0.6)
Rm
December
2013

Quarterly % change
Revenue for the quarter ended 31 December 2014

South Africa
Yoy %
Change
International
Yoy %
change
Corporate/
Eliminations
Group
Yoy %
change
5 418
1.5
242
6.6
(1)
5 659
1.8
Rm
Mobile contract revenue
In bundle
3 731
8.4
61
(4.7)
3 792
8.2
Out of bundle
1 687
(10.9)
181
11.0
(1)
1 867
(9.1)
5 032
(7.6)
2 918
9.9
(1)
7 949
(1.8)
766
46.5
460
102.6
1 226
63.5
4 266
(13.3)
2 458
1.3
(1)
6 723
(8.5)
10 450
(3.1)
3 160
9.7
(2)
13 608
(0.4)
Mobile interconnect
546
(45.3)
387
(10.4)
(10)
923
(34.8)
Other service revenue
860
6.4
428
12.0
(4)
1 284
9.4
11 856
(5.8)
3 975
7.6
(16)
15 815
(2.7)
3 879
8.9
78
11.4
(18)
3 939
9.2
252
(28.6)
39
(46.6)
(52)
239
(34.5)
15 987
(3.1)
4 092
6.6
(86)
19 993
(1.1)
6 420
(12.0)
2 224
8.3
(1)
8 643
(7.5)
652
0.3
136
(28.0)
788
(6.1)
3 526
18.8
804
24.8
4 330
19.9
Mobile prepaid revenue

In bundle
Out of bundle
Mobile customer revenue
Service revenue
Equipment revenue
Non-service revenue
Revenue
Of which mobile voice
Of which mobile messaging
Of which mobile data
Notes:
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.
Mobile in-bundle revenue Contract: Revenue from all bundles and add-ons lasting 30 days or more.
Mobile in-bundle revenue Prepay: Revenue from bundles lasting seven days or more.
Out-of-bundle: Revenue from minutes, messages or megabytes of data which are in excess of the amount included in customer bundles.
* Represents normalised growth at a constant currency (using current period as base). Refer to page 10 for a reconciliation of normalised growth.
Page 4 of 11

Revenue for the quarter ended 31 December 2013
South Africa
Yoy %
Change
International
Yoy %
change
Corporate/
Eliminations
Group
Yoy %
change
5 336
(0.1)
227
37.6
(2)
5 561
1.1
3 443
2.7
64
36.2
(1)
3 506
3.2
Rm
Mobile contract revenue
In bundle
Out of bundle
Mobile prepaid revenue
In bundle
Out of bundle
Mobile customer revenue
Mobile interconnect
Other service revenue
Service revenue
Equipment revenue
Non-service revenue
Revenue
Of which mobile voice
Of which mobile messaging
Of which mobile data
1 893
(4.8)
163
38.1
(1)
2 055
(2.4)
5 444
6.8
2 654
32.9
(1)
8 097
14.1
523
98.1
227
>200
750
151.6
4 921
1.8
2 427
23.6
(1)
7 347
8.1
10 780
3.3
2 881
33.3
(3)
13 658
8.4
999
(24.1)
432
38.5
(15)
1 416
(12.7)
808
7.6
382
22.0
(16)
1 174
11.2
12 587
0.6
3 695
32.6
(34)
16 248
6.4
3 562
26.9
70
70.7
(26)
3 606
27.0
353
68.1
73
(64.1)
(61)
365
58.9
16 502
6.6
3 838
33.5
(121)
20 219
10.5
7 296
(3.7)
2 053
18.1
(6)
9 343
0.4
650
(16.3)
189
54.9
839
(6.7)
2 967
31.2
644
110.5
3 611
40.7
Notes:
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.
Mobile in-bundle revenue Contract: Revenue from all bundles and add-ons lasting 30 days or more.
Mobile in-bundle revenue Prepay: Revenue from bundles lasting seven days or more.
Out-of-bundle: Revenue from minutes, messages or megabytes of data which are in excess of the amount included in customer bundles.
Page 5 of 11

Key indicators
South Africa
December
2014
September
2014
Active customers (thousand)1
31 379
32 613
Prepaid
26 479
4 900
Contract
Active data customers (thousand)2
December
2013
Year on year
% change
Quarterly
% change
30 964
1.3
(3.8)
27 806
26 123
1.4
(4.8)
4 807
4 841
1.2
1.9
0.4
16 751
16 679
15 314
9.4
1 613
1 578
1 378
17.1
2.2
70.9
63.7
52.3
Prepaid
79.8
71.0
58.4
Contract
7.8
9.9
11.4
12 402
12 182
11 298
9.8
1.8
Outgoing
9 827
9 570
8 928
10.1
2.7
Incoming
2 575
2 612
2 370
8.6
(1.4)
4.8
Machine to machine customers (thousand)

Churn (%)
Traffic (millions of minutes)4
MOU per month5
130
124
124
4.8
Prepaid
120
113
113
6.2
6.2
188
190
183
2.7
(1.1)
116
115
129
(10.1)
0.9
(0.8)
Contract
Total ARPU (rand per month)
Prepaid
67
67
80
(16.3)
Contract
386
389
393
(1.8)
Notes:
1.
2.
3.
4.
5.
6.
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.
Active data customers are a 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 needs to be counted once regardless of what data services they have utilised. A user is defined as a
count of all active customers that have generated data revenue for a contractual monthly fee for this service or have used the service during the reported
month.
Churn is calculated by dividing the annualised number of disconnections during the period by the average monthly customers during the period.
Traffic comprises total traffic registered on Vodacoms 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.
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.
Total ARPU is calculated by dividing the average monthly service revenue by the average monthly active customers during the period. Prepaid and contract
ARPU only include service revenue generated from Vodacom mobile customers.
Page 6 of 11

Key indicators (continued)

International
December
2014
September
2014
Year on year
% change
Quarterly
% change
29 676
28 367
Tanzania
11 810
11 316
25 019
18.6
4.6
10 289
DRC
11 493
14.8
4.4
11 003
9 334
23.1
4.5
5 049
4 913
4 120
22.5
2.8
1 324
1 135
1 276
3.8
16.7
9 749
9 188
7 457
30.7
6.1
Tanzania
5 160
4 963
3 554
45.2
4.0
DRC
2 324
2 241
2 280
1.9
3.7
Mozambique
1 817
1 636
1 285
41.4
11.1
448
348
338
32.5
28.7
Tanzania
47.1
42.4
46.6
DRC
92.3
95.1
88.6
Mozambique
93.5
86.8
74.3
Lesotho
44.0
125.5
34.1
154
165
131
17.6
(6.7)
Mozambique
Lesotho
Active data customers (thousand)
Lesotho
December
2013
Churn (%)3
MOU per month4

Tanzania
45
47
33
36.4
(4.3)
111
124
104
6.7
(10.5)
69
58
51
35.3
19.0
Tanzania
43
45
49
(12.2)
(4.4)
DRC
30
33
34
(11.8)
(9.1)
Mozambique
55
52
61
(9.8)
5.8
Lesotho
58
50
51
13.7
16.0
6 593
6 978
7 700
(14.4)
(5.5)
3.4
(20.6)
(12.9)
178
(12.4)
6.1
DRC
Mozambique
Lesotho
Total ARPU (rand per month)5
Total ARPU (local currency per month)5

Tanzania (TZS)
DRC (USD)
2.7
3.1
Mozambique (MZN)
156
147
Notes:
1.
2.
3.
4.
5.
month.
during the period.
Total ARPU is calculated by dividing the average monthly service revenue by the average monthly active customers during the period. ARPU has been restated
to only include service revenue generated from Vodacom mobile customers.
Page 7 of 11

Historical financial review

Revenue
December
2014
September
2014
June
2014
March
2014
December
2013
September
2013
June
2013
South Africa
15 987
15 380
14 791
15 170
16 502
15 585
14 549
International
4 092
3 984
3 591
3 798
3 838
3 655
3 065
Rm
(86)
(105)
(95)
(164)
(121)
(88)
(78)
19 993
19 259
18 287
18 804
20 219
19 152
17 536
December
2014
September
2014
June
2014
March
2014
December
2013
September
2013
June
2013
South Africa
11 856
11 995
11 442
11 982
12 587
12 069
11 678
International
3 975
3 873
3 493
3 684
3 695
3 538
2 978
(16)
(40)
(38)
(80)
(34)
(30)
(20)
15 815
15 828
14 897
15 586
16 248
15 577
14 636
December
2014
September
2014
June
2014
March
2014
December
2013
September
2013
June
2013
31 379
32 613
32 516
31 520
30 964
30 139
29 282
Prepaid
26 479
27 806
27 723
26 726
26 123
25 331
24 488

Revenue
Service revenue
Rm

Service revenue
Historical key indicators

South Africa
4 900
4 807
4 793
4 794
4 841
4 808
4 794
16 751
16 679
16 996
15 172
15 314
14 204
n/a
1 613
1 578
1 512
1 443
1 378
1 302
1 239
Churn (%)2
70.9
63.7
51.9
49.0
52.3
58.4
55.5
Prepaid
79.8
71.0
57.5
54.4
58.4
65.3
62.1
Contract
7.8
9.9
10.4
11.8
11.4
12.6
11.6
Contract
Active data customers (thousand)2
Machine to machine customers
(thousand)
Traffic (millions of minutes)
12 402
12 182
11 776
11 453
11 298
11 034
9 752
Outgoing
9 827
9 570
9 392
9 193
8 928
8 681
7 448
Incoming
2 575
2 612
2 384
2 260
2 370
2 353
2 304
MOU per month
130
124
122
122
124
124
112
Prepaid
120
113
112
112
113
112
98
Contract
188
190
181
179
183
183
183
Total ARPU (rand per month)5
116
115
110
119
129
127
125
71
80
75
74
379
393
398
387
Prepaid
67
67
64
Contract
386
389
372
Page 8 of 11

Historical key indicators (continued)

International
December
2014
September
2014
June
2014
March
2014
December
2013
September
2013
June
2013
29 676
28 367
27 086
25 969
25 019
23 672
22 259
Tanzania
11 810
11 316
10 638
10 284
10 289
10 023
9 666
DRC
11 493
11 003
10 502
10 008
9 334
8 790
8 129
Mozambique
5 049
4 913
4 604
4 333
4 120
3 688
3 310
Lesotho
1 324
1 135
1 342
1 344
1 276
1 171
1 154
Active data customers (thousand)
9 749
9 188
8 311
7 675
7 457
6 065
4 903
Tanzania
5 160
4 963
4 480
3 788
3 554
2 958
2 343
DRC
2 324
2 241
2 016
2 218
2 280
1 748
1 421
Mozambique
1 817
1 636
1 474
1 368
1 285
1 090
922
448
348
341
301
338
269
217
42.4
46.6
51.5
56.8
95.1
47.3
74.8
49.9
DRC
47.1
92.3
76.6
88.6
88.8
87.7
Mozambique
93.5
86.8
91.2
87.2
74.3
71.4
69.8
Lesotho
44.0
125.5
41.9
50.9
34.1
39.5
43.7
154
165
158
131
131
122
116
45
47
39
31
33
36
39
111
124
131
118
104
95
92
69
58
48
49
51
35
26
Tanzania
43
45
42
43
49
48
41
DRC
30
33
31
35
34
37
33
Mozambique
55
52
49
52
61
61
57
Lesotho
58
50
43
41
51
47
44
6 593
6 978
6 655
6 377
7 700
7 801
6 992
2.7
3.1
3.0
3.2
3.4
3.7
3.5
156
147
146
150
178
184
182
Lesotho
Churn (%)3
Tanzania
MOU per month
Tanzania
DRC
Mozambique
Lesotho
Total ARPU (rand per month)
Total ARPU (local currency per

month)5
Tanzania (TZS)
DRC (USD)
Mozambique (MZN)
Notes:
1.
2.
month.
3.
4.
during the period.
5.
Total ARPU is calculated by dividing the average monthly service revenue by the average monthly active customers during the period. Prepaid and contract
ARPU only include service revenue generated from Vodacom mobile customers.
Page 9 of 11

Reconciliation of normalised growth

The reconciliation represents normalised growth at a constant currency (using current period as 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 to 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 Groups auditors.
Year on year reconciliation

Reported1
% change
Translation foreign
exchange2
ppt
14/15
Normalised
% change
14/15
Revenue
Group
International
(1.1)
6.6
(1.1)
(5.8)
(2.2)
0.8
Service revenue
Group
International
(2.7)
7.6
(1.2)
(5.7)
(3.9)
1.9
Notes:
1.
2.
The reported percentage change relates to the quarter to date year on year percentage growth between 31 December 2013 and 31 December 2014. The Groups
presentation currency is the South African rand. Our International operations include functional currencies in United States dollar, Tanzanian shilling and
Mozambican metical. The prevailing exchange rates for the current and comparative periods are disclosed on page 11.
Translation foreign exchange arises from the translation of the results, at average rates, of subsidiaries functional currencies to Vodacoms presentation currency,
being rand. The exchange variances are eliminated by applying the quarter 31 December 2014 average rate (which is derived by dividing the individual subsidiarys
translated rand value with the functional currency for the quarter) to 31 December 2013 quarter numbers, thereby giving a user a view of the performance which
excludes exchange rate variances. The prevailing exchange rates for the current and comparative quarters are disclosed on page 11.
Quarter on quarter reconciliation

Reported1
% change
Translation foreign
exchange2
Normalised
ppt
% change
14/15
Revenue
Group
International
Service revenue
Group
International
14/15
3.8
2.7
(0.5)
(2.2)
3.3
0.5
(0.1)
2.6
(0.5)
(2.1)
(0.6)
0.5
Notes:
1.
2.
The reported percentage change relates to the quarter to date quarter on quarter percentage growth between 30 September 2014 and 31 December 2014. The
Groups presentation currency is the South African rand. Our International operations include functional currencies in United States dollar, Tanzanian shilling and
Mozambican metical. The prevailing exchange rates for the current and comparative periods are disclosed on page 11.
Translation foreign exchange arises from the translation of the results, at average rates, of subsidiaries functional currencies to Vodacoms presentation currency,
being rand. The exchange variances are eliminated by applying the quarter 31 December 2014 average rate (which is derived by dividing the individual subsidiarys
translated rand value with the functional currency for the quarter) to 30 September 2014 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 on page 11.
Page 10 of 11

Average quarterly exchange rates

December
2014
USD/ZAR
September
2014
December
2013
Year on year
% change
Quarterly
% change
11.22
10.77
10.17
10.3
4.2
2.84
2.86
2.94
(3.4)
(0.7)
ZAR/TZS
152.79
154.64
158.06
(3.3)
(1.2)
EUR/ZAR
14.01
14.26
13.84
1.2
(1.8)
ZAR/MZN
The quarterly information has not been audited or reviewed by Vodacoms external auditors.
Trademarks
Vodafone, the Vodafone logo, Vodacom, Vodacom m-pesa and Vodacom m-pawa, are trademarks of Vodafone Group Plc (or have
applications pending). Other product and company names mentioned herein may be trademarks of their respective owners.
Forward-looking statements
This quarterly update which sets out the quarterly results for Vodacom Group Limited for the period ended 31 December 2014
contains forward-looking statements, which have not been reviewed or reported on by the Groups auditors, with respect to the
Groups financial condition, results of operations and businesses and certain of the Groups plans and objectives. In particular, such
forward-looking statements include statements relating to: the Groups 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 Groups businesses by governments in the countries
in which it operates; the Groups 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 Groups present and future business strategies and the environments in
which it operates now and in the future.
Sponsor:
UBS South Africa (Pty) Limited
Debt sponsor:
Absa Bank Limited (acting through its Corporate and Investment Banking division)
ADR depository bank:
Deutsche Bank Trust Company Americas
Page 11 of 11

Trading Statement Q3 2015 FINAL

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Trading Statement Q3 2015 FINAL

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Vodacom Group Limited

Quarterly update for the period ended 31 December 2014

Year on year % change

Quarter on quarter1 % change

Shameel Joosub, Vodacom Group CEO commented:

Vodacom Group Limited

Vodacom Group Limited

Vodacom Group Limited

Year on year % change

Service revenue for the quarter ended

Year on year % change

Revenue for the quarter ended 31 December 2014

Other service revenue

Mobile prepaid revenue

Vodacom Group Limited

Vodacom Group Limited

Active customers (thousand)1

Machine to machine customers (thousand)

Traffic (millions of minutes)4

MOU per month5

Vodacom Group Limited

Key indicators (continued)

Active customers (thousand)1

MOU per month4

Total ARPU (local currency per month)5

Vodacom Group Limited

Historical financial review

Active customers (thousand)1

Corporate and eliminations

Corporate and eliminations

Historical key indicators

Traffic (millions of minutes)

MOU per month

Total ARPU (rand per month)5

Vodacom Group Limited

Historical key indicators (continued)

Active customers (thousand)1

Active data customers (thousand)

MOU per month

Total ARPU (local currency per

Vodacom Group Limited

Reconciliation of normalised growth

Year on year reconciliation

Quarter on quarter reconciliation

Vodacom Group Limited

Average quarterly exchange rates

UBS South Africa (Pty) Limited

ADR depository bank:

Deutsche Bank Trust Company Americas

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