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Dan, personally, i would not invest another penny in this company, it has dropped every year for the last six years, and possibly it will under perform for the next six as well, how many accountants have we had on here saying how much this company is under valued in the past and everyone of them have got it wrong, just look at the current share price. there are other dividend company's that can afford to pay the dividends without you losing more of your capital, having to sell off parts of the company in a desperate attempt to pay down debt is hardly the signs of a well managed company
Gary. Although I agree with your 1st point about the innacurate valuation of vod Italy, you seem to then contradict yourself by 1st saying "vod needs more ambitious (definition, Having or showing a strong desire & determination to succeed) people running the company" & then making a non ambitious, negative comment "Anybody buying or adding here,needs to go & lie down in a dark room,yes folks there are other companies much better to invest in" Not very ambitious is it? I think we should all count ourselves lucky, someone like you is not running vodafone!
Hello Roofer. I will go an optomistic 74.92 for friday please which was the pre ex divi day closing price. Although I get the argument that paying a divi is folly if it just reduces your capital, it would be good to prove that wrong!
XxxAcc ... I'm unsure why you think VOD's Italian arm is currently worth £10 to £12 bn, the latest valuation (Barclays) is €9.3 billion (£8.1 bn).
Back in April VOD's "excellent" NOT management rejected a £9.5 bn bid, probably another duff management decision.
What VOD needs is a more ambitious people running the company.
The following is a good insight into VOD from respected commentators ... "The latest results are a checklist of everything bad about this company, said Russ Mould, head of investment at AJ Bell. It has swung to a loss-making position, revenue is down, the dividend is not growing and there is negative free cash flow.
Net debt increased to €36.2 billion from €33.4 billion at the end of March, primarily driven by the free cash outflow of €2.0 billion and €1.2 billion doled out in dividends.
We’ve got the usual rhetoric from the chief executive that the turnaround story is making progress but at the end of the day it’s yet another set of results that remind us how Vodafone has lost its way big time, said Mould. Work is underway to restructure the group but don’t hold your breath for rapid change.
Albie Amankona, telecoms analyst at Third Bridge, noted that net customer additions remained "subdued" but the second quarter rebounded from losses in the first. These losses indicate that further operational cost management is necessary, Amankona added.
Having completed 30% of their targeted savings program by FY26 and having implemented the easiest opex reduction methods first, it could imply that the opex management program lacks ambition. This echoes the skepticism of our experts, who doubt whether the planned opex reduction program will yield the required results.
Anyone buying or adding here needs to go lie down in a dark room, yes folks there are other companies much better positioned to invest in.
Garonne says, Most u.s. companies don't pay dividends. I did not know that, can anybody else comment? I would assume u.s. companies that don't pay divi's, do so because they don't make any profits & are very risky?
Vod closing Sp 1st Dec
KiwiTwo 75.9p
Roofer 72.45p
List so far Entries by 12pm Mon Atb
Kiwitwo, I'd be happy with that price as anything over 75p puts me in profit and I will have a nice dividend payment in february.
Vod closing Sp 24th Nov 71.74p
SteveBT 71.8p winner
FredRubble 75.69p
KiwiTwo 77.8p
Doyen Dan 74.5p
Exil 75p
Newsid 73p
Tars 83.14p
Robleo 72p
Toli 82p
Little66 73p
Paul30 74.25p
Beo1 73.5p
Freedom4 77.6p
Talatum 74p
Aspers 76.95p
Shls38 75p
Roofer 75.80p
Atb
XxxA. Thank you for your explanation. I am not sure your valuations are correct, but let's hope so. Have a good one.
XxxAccountant
Looking at the latest H1 report, the combined EBIDTAal for Italy and Spain is 1.039bn out of the 6.378bn.
I am also curious to learn how the business service unit will continue to operate in these regions . Given the global coverage of Vodafone's platform, I believe these won't be affected. For clarity these are the services I am referring to: https://www.vodafone.com/business/about-vodafone-business
So moving forward, Vod is positioned to continue expanding their enterprise business in both Italy and Spain. In Hungary that was kept in tact and fully.
Any thoughts?
Can I have 75.9p for next week please
Just to clear, by debt I should add ‘net debt’ exc leasehold liabilities
£10-12bn from Italian business and £4-£5bn from Spain. If my maths is correct that’s half our current debt cleared?
I’m a Chartered Accountant and retail investor simply quoting numbers from multiple media sources.
I’ve based my investment decision on debt being cleared by half and ebitda of 6-£8bn flowing through to £7m in fcf
To me that seems like a bloody good investment
All we need is to see some concrete action from the board
Maybe he's expecting Marge to forgoe some of her salary?
A slow rise after the div drop but lets hope its a good slow rise up from here,
XxxAccountant. I am glad to know you are an ex accountant! How could vodafone pay off 50% of it's debt in the next few months? About 23 billion? Come on, you don't make sense.
Accolade this week goes to another new contestant " steveBT " well done
Vod closing Sp 24th Nov 71.74p
Speech Speech steveBT
Enjoy your weekend
Full list will follow..atb
I canr see them paying £25billion off the debt in the next few months.
Completely agree
If we clear 50% of the debt in the next few months, the risk of financing costs eating away at our EBITDA will start to fade and share price will respond positively
A more focused UK and German business will go down well I think. Focus on growing this business.
At the moment we are too big and in too many countries
The Swisscom interest in Vod Italy is just the start imo - with inflation dropping worldwide, interest rates will follow making it cheaper to raise money for takeovers - when companies are taken over the predator is ideally looking for a bottom fishing scenario with the economic headwinds turning positive - this scenario is playing out right now in front of your eyes - I added to my holding here this morning
gla dyor etc
I broadly agree with this article. Appreciate Motleyfool comes up with all sorts in their articles but I happen to agree
I reckon Vodafone will sell Spain and Italian businesses for c£15-£20bn to clear the major of their debt, this is will take a year to divest properly, leaving a healthy revenue and turnover.
Costs (energy and staffing to go ease)
£1.30 share price end of 2024 into early 2025. Take 4-7% in dividends each year and that makes me 100% profit in my ISA
Appreciate there are other companies out there that might give you multiples more but they are also higher risk.
https://www.fool.co.uk/2023/11/01/this-ftse-100-stock-could-rise-117-according-to-analysts/
Article identifies potential sale of Vod’s Italian operations to Fastweb, the smallest existing operator in Italy that is owned by Swisscom.
https://www.bnnbloomberg.ca/swisscom-s-fastweb-is-said-to-explore-deal-for-vodafone-italy-1.2002702
How times flies - I had only just realised that super deduction (130%) had ended.
The super deduction though has been superseded by 'full expense' 100%