Financial capital

Key highlights
Group operating revenue up
Mobile service revenue up
Mobile direct cost to revenue ratio improves to
  
Free cash flow (FCF) up
  
Net debt to EBITDA improves to
  
* The indicators are based on a pro forma IAS 17 basis and exclude VSP/VERP costs of R1 186 million and the related tax impact of R332 million, and the additional provision relating to the impairment of accounts receivable and contract assets as a result of COVID-19 of R626 million and the related tax impact of R175 million. FY2019 excludes VSP, VERP and section 189 costs of R728 million and the related tax impact of R215 million.
** FCF excludes R175 million paid for VSP, VERP and section 189 costs during FY2020 and R566 million in the comparative year.