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I found with VOD to only look at the balance sheet. Equity down despite an apparent accounting profit. Accumulated losses up due essentially to divi coming from equity (debt). Just reasons why the market will not be that impressed.
looks like 100p on the cards
Well didnt expect that open - I suppose we should though its vodafone !!!!!!!
Very much steady as she goes results. At the bottom end of revised guidance. Dividend seems safe but no chance of an increase either. Forward guidance is pretty much flat. As I suspected, the growth in revenue is going to get eaten up by rising costs.
Might very well see a relief raleigh, but I’m still concerned about how yield decompression could effect the price over the medium term with rising interest rates
"When is the divi?"
"Total dividends per share are 9.0 eurocents (FY21: 9.0 eurocents), including a final dividend per share of 4.5 eurocents. The ex-dividend date for the final dividend is 1 June 2022 for ordinary shareholders, the record date is 6 June 2022 and the dividend is payable on 5 August 2022"
Good to get a PE ratio that means something- by my calculations we are on 19.44 based on basic EPS of £0.062.
Headlines were good but delve deeper and flat prospects for 2023 and rising debt will not ignite confidence
The increased debt was already known & priced in but is very possitive now however the dividend is easily covered by Adjusted basic earnings per share. There is a sound strategy for debt reduction with M&A i.e Vod & 3 merger in UK rumoured to be funded by equity swap rather than new borrowing. These kind of deals will make the debt easily serviceable. GLA
"debt is up not great"
With the share price being so low, the share buybacks were the obvious choice to prevent dilution. Any extra shares, that would have been created to satisfy MCB's, would have meant more dividend costs going forward.
"Net debt at 31 March 2022 was €41.6 billion, compared to €40.5 billion as at 31 March 2021. Net debt increased by €1.1 billion due to share buybacks of €2.0 billion (1,441 million shares) used to offset dilution linked to mandatory
convertible bonds, partially offset by Free cash flow of €3.3 billion less equity dividends paid of €2.5 billion."
Ex divi 16/06
Pretty good overall.
When is the divi?
Big historic problem here is the huge debt, and it's going up!!??
Yep 6,074,518 shares bought back into treasury yesterday. I would prefer if they where cancelled but I guess they will need them to pay for redemption of the new style bonds that pay out in vod shares.
Good results against an increasingly negative rhetoric. Room for a small relief rally.
If you have a look it was used to buy back shares
Overall ok results
debt is up not great
Vodafone Group Plc ? FY22 Preliminary results
17 May 2022
Good financial performance with growth in revenues, profits and cash flows
· Good service revenue growth in FY22 with continued growth in both Europe and Africa throughout the year
· Good financial performance in Germany with 1.1%* service revenue growth and 6.5%* Adjusted EBITDAaL growth
· Strong step up in pre-tax ROCE of 1.7 percentage points to 7.2%, supported by operating profit growth of 11.1%
Cheapshareboy. I agree with you, & totally disagree with pokerchips who has a habit of coming up with daft, challenging comments? Of course he has a point, 1 point, when there are 99 points that would disagree?! To abandon Europe in favour of Africa & the middle east is complete nonsense. But the 4 recommends he got, just shows the mentality of many on this forum?
I fully disagree with poker. Europe and western economies are the backbone of cash flow.
I would not dump it for Africa, especially as Vod can have both.
What is needed is inflation eating away the debt and margins staying decent. European markets are cruicial for VOD
yes I'm pleased to have been able to add to my holdings below 120p today.
Hard to believe but market is weird not marking it up to 130p.
I'm hoping more of the same results as last time - so that we could maybe leave sub-120p behind for good.
Not predictions though - Let's see what comes about
Re: The last set of results were well received but nobody really knows what will happen this time.
Your spot on with that one, then it dropped to a £1, so not sure what it's going to take to make it go north tomorrow, but hope it's got what it takes to do so
cheers for that as if i needed reminding.....
The market is waiting for the half-year results tomorrow before making a judgement on the overall outlook for the company. The last set of results were well received but nobody really knows what will happen this time. Hence to muted reaction to the weekend's news.
Be grateful it finished up - this is Vodafone we are talking about .
Hi all can't believe this didn't finish in the mid to late 120's well guess that's why i drive a lorry and am not a stock broker.....