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Fleccy
Bitcoin is just a gambling speculative asset as far as I can see ....at any moment the whales can sell big amounts and it can drop ..it has a lot of blog,social media rampers merely trying to suck in buyers
I think if you want to get into crypto then you have to fully understand it before doing so, i.e spend a whole week and bookmark blogs and such like to keep up...
For me.. I know insufficient about it and dont feel I want to get involved .... once you buy then you suddenly get sucked into following it
I guess I would only have it as part of a managed fund with a small % of the fund ..managed by others ..I dont want to invest time on it myself
I do think the technology behind it can be useful and I think Ethereum is probably the one I would buy,rather than Bitcoin
Dan, saying that's it's disappointing to see this drop so low is not being negative,it's just the reality of how bad it has got, this share does appear to have reached it's bottom and of course i'm thinking and hoping it can improve from here, let's see what this year can bring for Vodafone
Rob, forget the past, you cant change it. Just look at the future, that is all that matters. Who knows? If you can't be possitive though, just give up & go away, why be negative?? Why?
Hi Dan, i like the sound of those night classes, think i might join you, one year ago i don't think anyone could have predicted the share price would be where it is today no matter what research or charts they use, and don't think anyone can predict where it will be a year from now either, but each to his own, there are are more question than answers with this one, maybe this will happen or maybe that will happen, sell this merge with that etc,but some people like that sort of thing, so best of luck to anyone if they think they can work it all out
Hi rob. The night classes are going fine, I have progressed from 4 pints of cider in one night to 5. As for this forum? Well what can I say. But as you correctly say, everybody is entitled to there opinion & I have never said, or suggested otherwise. I just don't like graphs, sorry, just my opinion.
"Oh dear, Garonne attempting to ramp this share with an end of year prediction. Further hypocrisy.
Please take anything this charlatan says with a huge pinch of salt."
Heh bumble,
It's not possible to ramp a stock of this size.
Spent a little too long on the aim boards methinks.
I've heard of AFC.
They couldn't score in a brothel.
Apologies to VOD posters but unfortunately I've been followed on here by an unhinged AFC poster who has seemingly begun stalking me! (I'm guessing most of you have never heard of AFC)
The shareprice has collapsed by circa 62% since 31st December 2022 when Nick Read stepped down as CEO and Margherita took over in an interim role, at least initially. Some say that she should not be called out for this atrocious performance but I disagree. The buck stops at the top, so MDV needs to start addressing this catastrophic failure or go. Maybe she could start by talking to the market to emphasize how her plan (if she has one) is going to bring prosperity back to this fallen giant. We never here anything from her in the media or elsewhere. It's an extremely poor show.
The Vantage Towers growth capital expenditure entry might be a one off in the last FY22/23, probably wont show in the current FY figures.
Vodafone's a complex beast, but the three stand out's are EBITDAal, Net Debt and Capex. Dividends are accounted for separately from Free Cash Flow and adds directly into Net Debt.
These are the entries feeding into the Cash Flow calculation:
Adjusted EBITDAaL
Capital additions (Capex)
Working capital
Disposal of property, plant and equipment and intangible assets
Integration capital additions
Restructuring costs including working capital movements
Licences and spectrum
Interest received and paid
Taxation
Dividends received from associates and joint ventures
Dividends paid to non-controlling shareholders in subsidiaries
Other
Working Capital is deducted at H1, but adds back in at H2/FY, so the FCF fluctuates synchronously with Working Capital:
https://docs.google.com/spreadsheets/d/e/2PACX-1vSNxkKmgR2PzSL1NH5uvhJAIl6TyUm-PpH2hChEFWELeB8mLB-V562E7qRdDL0lOSa8NyAUBbokBjVp/pubchart?oid=498591&format=interactive
I suspect the Working Capital goes toward paying down debt as it becomes due.
Free Cash Flow feeds into Net Debt, but separate to that these also feed into the Net Debt calculation:
Acquisitions and disposals
Equity dividends paid
Share buybacks
Foreign exchange (loss)/gain
Other movements in net debt
When Vodafone publish their Adjusted Free Cash Flow they add these Adjustments back into the figure:
- Licences and spectrum
- Restructuring costs including working capital movements
- Integration capital additions
- Vantage Towers growth capital expenditure
- Other adjustments
Overall without doing a deep dive into the segmental analyses of future required Capex and licences/Spectrum, it isn't clear how much selling assets like Spain and Italy, or merging VOD UK and Three would save on future Capex; Vodafone probably know how much difference these changes will make going forward, but it's beyond me.
Vodafone could maintain FCF if they can reduce Capex and Spectrum/licences, on the back of any disposals. Interest paid and received is less than half the dividend payout, so easily manageable. If Vodafone cancelled the dividend it would be equivalent to around Taxation and Interest on Debt combined.
https://docs.google.com/spreadsheets/d/e/2PACX-1vSNxkKmgR2PzSL1NH5uvhJAIl6TyUm-PpH2hChEFWELeB8mLB-V562E7qRdDL0lOSa8NyAUBbokBjVp/pubchart?oid=325944045&format=interactive
If I've got anything wrong, let me know and I'll take another look.
" but free cash-flow wont sustain an 11% dividend. "
yes , I think the market is already suggesting that , indicating the dividend would be cut back should the revenues drop as a result of asset sales.... The market is giving its view for the BOD to take note of, I suspect
95p for me please
I'll go for 92p - optimistic I know!
Eoy Vod closing Sp
AbjectP 107p
Lawrence 175p
Unlucky9 250p
Added to list
*please note weekly Prophecy closes 12pm Mon sharp
EoY £1.75
EoW £0.82
🥳🥳
Put me down for 75p. My glass ball says sale news about to drop. 🙏
VOD get, Surely it’s less strain on the other parts of the company as they don’t have to make up half a billion in loses. Won’t the dividend be covered by not having the big loses as these companies. How ever much they add to total income they are just a negative on. adding anything so profit.
'Surely getting rid of two big loss making countrries can only help the dividend.'
Probably.
MDV will need to firm up the contribution each of the continuing businesses is going to make if she sells underperforming assets as a strategy. In particular, dividend sustainability, E& leadership etc
Surely getting rid of two big loss making countrries can only help the dividend.
£1 this year if MDV can get the BoD to make big decisions.
Selling Italy vs merging Italy will tell.
We know a couple of disposals can clear debt to zero but free cashflow wont sustain an 11% dividend.
Think I want E& rns increasing their stake and the div maintained
$hitcoin is the biggest scam ever transferring wealth from the haves to not haves.
Dr Varoufakis nailed it: https://www.youtube.com/watch?v=1JGYpDZixlY
My EOY prediction - 250p
Think this will be a much better year for shares in general and vodafone will recover to over £1 by year end
Dan, how are them night classes going mate? It would be a strange and boring world if we were all the same and all had the same opinions, i don't mind Fleccy or pokerchips posting charts as long as they don't force me to read them
one thing we all have in common is we want this dam share price to rise, but personally i don't want to wait 10 or 20 years for it to happen, let's hope this year will be a bit kinder to all of us Voders
sack the CEO i say and give their bonuses to me lol