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129.15 thanks
Thanks @Mikey for the article. But hey, what do these professional writers know about VOD and CEOs.
You might even get accused of not liking Nick Read and be asked to find an alternative CEO :-)
For people who don't have the time to read this article here is a snippet;
" Nick Read probably has done some good things - but the list of utter catastrophes under his watch is long."
Hi Dan, totally get that bit, my investment here is part of my pension , ideally i would like a return of at least 5-10% without loss of capital, obviously i have not achieved this with Vodafone due to loss of capital, this of course was down to buying it at too high a price, but of course i wasn't expecting that drop or for the share price to stay down for so long, but the best i can say is the dividend is giving me a better return than the bank, and that i am hopeful that the share price will rise from here, by how much i don't know, if i was convinced there was no hope at all of any improvement in the sp, then i would just sell up right now, if only we could predict the future, nothing anyone says on here is going to affect the share price, I'm sure everyone is fully aware of that, personally i would prefer to be friends with everyone on here, i don't think anyone likes all the bickering, but most of us are guilty of it sometimes, but Monday is a new week, and hopefully a good one
So the lesson today is stay off the gin, especially in your your youth, unless you want to end up like you know who? Sorry but?? Come on?? All in the best possible taste??
Mikey, I hate gin as well, Nothing to do with my youth though, It's just so trendy, & tastes horrible unless drowned in over priced tonic (fever tree). Rob, of course the sp challenge is all in fun, so please continue, but we should respect the more serious opinions on her as well. C.S.D.I. For example?? & not to forget the evil, last place mole-man, boo-hiss? . oh & you of course. About time you won though, you are rubbish? Same as me.
Interesting article
https://seekingalpha.com/article/4522528-vodafone-pan-european-telco-safety
Don’t like Gin Rob - bad experience in my youth :)
Asia’s Richest, Is Bidding for Indian 5G Phone Airwaves
Company doesn’t intend to enter into consumer mobility space
Airwaves will help build a private network across businesses
https://www.bloomberg.com/news/articles/2022-07-09/adani-asia-s-richest-is-bidding-for-indian-5g-phone-airwaves?srnd=premium-europe
Thanks Dan, and to all that took part in the sp challenge, we all know it's just for a bit of fun, and mostly to get everyone to take part, so as long as you guys keep posting it, i will keep publishing it, if that's the right word, was a bit like the wild west on here last week, bows and arrows flying around everywhere and virtual punches to see who could inflict the most virtual pain on each other, just another week on the vod forum eh, never mind the sp was holding up well, and I'm sure we will all shake hands and start again, we just need to slip a bit of gin in Mikey's tea, so he will start feeling the force again
ATB guys, and hope we have a good week
Hi rob, You are doing a wonderful job as adjudicator & diplomat. I will go 130.3 please. Come on Kyrgios? Only joking Mikey, I can't stand him either. I guess for once the crowd will be behind Novak. Great shame about Nadal. I actually won money him, on match bets, even though I backed Nadal to win outright, because as he withdrew, I got my money back.
Well done Soton - another Gold medal to add to the tally.
Nice to see VOD holding up despite all the current headwinds.
I will stick with 130 for next week plse.
Cheers & GLA - C
Cheers Rob....Guys.......Think that's my 3rd win or maybe 2nd not sure have had a couple of beers so next week.....gonna go with a 130.2...Has been a another upward trend this week just hope it continues GLA
Free cash flow is the real one, adjusted is when you put lots of stuff back in to pretend you're doing better. Bit like EBITDA.
Oh mole. You're encourageable.
Good weekend of sun all.
Hi all .....
Sticking with 1.27 .....Boring I know
Ty Rob for being Master of ceremonies...
I will stick to 130p
Free cash flow. fleccy, why is there a free cash flow, & an adjusted free flow? Sounds a bit confusing? Do you think gary was wrong with his conclusions?
And this weeks winner is Sotonspike, Congratulations soton, a worthy winner, how many awards is that for you now?
I have never won this and feeling a bit sad about it, but i will not give up lol
Prediction Guesses for 08/07/22
robleo 129
daniel 1.30
mole_man99 115
sotonspike 128.5
NewSid 125.1
CSDI 130
scratch49 127
ronold 130
cheapsharesboy 131.2
Flyinghigher 127.5
Fredrubble 142.15
closing sp 128.46
"Outlook for FY23
Our performance during FY22 has been in line with our expectations and demonstrates the relative resilience of our operating model. We remain focused on the delivery of the next phase of our strategy.
The current macroeconomic climate presents specific challenges, and is likely to have an impact on our financial performance in the year ahead. Whilst our business model is relatively more resilient than many others, there are specific challenges to be managed. The war in Ukraine and energy price increases are contributing to a broader inflationary environment, and these inflationary pressures are beginning to impact customer confidence. Our sector and many others have also experienced increased volatility in supply chains and an increase in logistics costs. We have a number of
initiatives underway to mitigate these macroeconomic challenges. Based on this assessment of the global macroeconomic outlook:
Adjusted EBITDA is expected to be between €15.0 - €15.5 billion in FY23; and
Adjusted free cash flow is expected to be c.€5.3 billion in FY23."
I've found where you were looking, Free cash flow is €3.309 Billion
Free cash flow €3.309 Billion
Adjustments:
Licences and spectrum €896 Million
Restructuring costs €267 Million
Integration capital additions €314 Million
Restructuring and integration
working capital €213 Million
Vantage Towers growth
capital expenditure €244 Million
Special dividend in Egypt €194 Million
Adjusted free cash flow €5.437 Billion
"Free cash flow for the year totalled €3.3bn, all of which was swallowed up by dividends"
Where did you get the €3.3bn from?
Isn't the adjusted free cash flow €5.437 Billion for FY 2022?
"I can't see where any growth will come from. Thinks like 5G just cost a lot in infrastructure but customers aren't likely to want to pay more for it."
5G has little to do with upgrading current retail mobile customers, although much of the hype is centered around that; 4G already offers good data rates, so why role out 5G? 5G is more about IOT, and all the new 5G applications needing reliable low latency communications, like driverless cars, surveilance and control, commercial 5G, etc. 5G will completely replace 4G over time, and although it will offer faster, lower latency services than 4G, upgrading 4G retail customers wasn't the primary reasoning behind the upgrade. 6G is still in the lab, but will be more like Wifi for high population areas, and specialist applications, rather than replacing current mobile services.
You're correct Robina this is purely a dividend share, there has been no growth for years & it will continue to stagnate IMO for the reasons I outline below. The company as we all know has major debt & an ever increasing amount to invest in infrastructure is required just to stand still, the market is fully aware of this.
It's a defensive play in times of recession so that may stand VOD in good stead in times of turmoil but IMO there aint any growth here for the foreseeable. Happy to be proved wrong though.
However, looking at the numbers I think Vodafone’s cash flow figures are a much more accurate reflection of the company’s financial position. Free cash flow for the year totalled €3.3bn, all of which was swallowed up by dividends (€2.5bn) and share buybacks to offset as VOD put it “dilution linked to mandatory convertible bonds.” With more cash flowing out than coming in group net debt increased by €1.1bn to €41.6bn. Back to the debt position again posters, apologies.
In other words, Vodfone is paying out more than it can afford & not for the first time: in the 2021 financial year it paid out €2.4bn to shareholders on free cash flow of €3.1bn. Does this mean they will look at reducing dividends?
Sorry to be a doom monger but after all this is what these boards are for, to discuss things that affect our investments.
Good luck all & have a great sunny weekend.
The latest Berenberg target of 135p is surely the only realistic one in recent times.
I think that a few pence either way and a sustained dividend is the best we can hope for.
I can't see where any growth will come from. Thinks like 5G just cost a lot in infrastructure but customers aren't likely to want to pay more for it.
You guys have it soooooo good with VOD.
Try holding PSN shares like me - it's almost enuf to even make me depressed .... nah not really - it's only money
GLA - C
Well done Mikey, that's the spirit, feel the force, was only joking mate