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This excerpt taken from the VOD 6-K filed May 24, 2007. Basis for outlook statement
The Group has previously stated that its outlook statement on revenue and profitability will move from a proportionate basis to a statutory basis with effect for the 2008 financial year. The outlook for profitability will be based on adjusted operating profit, which is representative of all the Group’s businesses, rather than statutory EBITDA, which excludes the results from associates. There will be no change in basis for capital expenditure or cash flow. The Group’s outlook will reflect current expectations for average foreign exchange rates for the 2008 financial year.
Accordingly, the Group will provide an outlook statement based on the following measures and in the format illustrated:
The Group will provide an estimate for total depreciation and amortisation. The outlook for free cash flow and capitalised fixed asset additions will be stated including the impact of any known spectrum or licence purchases only.
Following completion of the Hutchison Essar acquisition on 8 May 2007, its results will be consolidated and reflected in the outlook statement from that date.
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