We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Ah Dave....you'll regret selling...never mind, we'll no doubt continue to hear your bitter ramblings
Nice dividend...onwards and upwards
Vodafone's a complex beast, it's like a Hedge fund running a mix of telecom companies. The dividends are accounted for separately and don't come out of Free Cash Flow; The FCF and Dividends both feed into the Net Debt figure, but the Dividends are paid for out of banked cash rather than the preceding period's Cash Flow, at least on paper. As Vodafone sell off bits and pieces you'd expect revenue to drop with disposals, but the impact on EBITDA would also depend on reductions in lease liabilities/interest and other expenses that end with the disposals. What Vodafone need to do, as revenue reduces, is maintain EBITDA as much as possible and reduce capex along with any other expenses feeding into the FCF figure. In order to reduce Net Debt, the FCF needs to exceed the Dividend payouts plus any other added expenses accounted for separately to FCF, otherwise Net Debt will keep growing.
Clearly European growth is going to be limited going forward, with Vodafone rethinking and reorganising their European/UK businesses in response. The biggest growth opportunities will be away from Europe.
It's an almost philosophical explanantion. If you have paid out 50bn in div, but are borrowing 50bn in bonds, where did the money for the divs come from?
Div payments get booked to accumulated loss/profit on the blanace sheet. Accumulated losses are 114bn. They have never been able to pay a div without raising capital to pay it.
Dont listen to Nuri and Mole.
The clearly dont understand the results and/or are trying to mislead readers.
Nuri has already admitted he will never be invested in VOD. What is he doing here then on this board?
Likely a disgruntled ex-employee.
glad i sold most of my share even with massive lost. i'll buy back mid 60s. this company is ****ed if the merger with 3 gets rejected
Nuri, please explain where they've borrowed to pay the dividend? They aren't borrowing to pay the dividend as far as I can tell.
Borrowing to pay a dividend utterly irresponsible and the leading sign of poor management. Those debt levels are utterly horrendous and need reduced asap. I am not, and by the looks of it, will never be invested in Vod. Hopeless company!
Negative cashflow, declining revenue a reality of selling off assets, net debt rising over the 6 month period. Utterly irresponsible to be paying a div. A very bad stock at this stage.
Looks like results are ok, hopefully continued improved results next year and economy shoots of recovery. Not a bad stock at this stage.
Well doesn’t look like institutional investors don’t have an issue. You’ve bagged another big dividend and it appears to just be trending with the wider market atm.
The headline results in the narrative and the actual figures make no sense. Free cash outflow and levels of free cash a critical worry. Very poorly run organisation. Strong sell...
Nice!
Divi held that's nice for now!
Also earnings of 21.9B beat expectations of £21.6B
Plus Germany returned for growth.
I wonder if this is enough to propel the sp higher, or the paper loss will be seen as negative?
So you think it drop 5% to boost an already generous dividend that has been confirmed and the main concern for analysts, Germany is growing? I’m not sure about that, let’s see wha tv the open brings!
Long live the dividend!!!
Overall good results - Company on track to make improvement all over the sector.great news - No change in Divided..Pleased with the results in the current economy.
yep like i said shes doing a fantastic job, why the **** did they pick her. ill tell you why, no one else wanted the job. 60s coming now
Terrible results - Looks like the right actions are put in place (New CEO busy Kitchen sinking here). At least the divi is being held. I would think we could see a circa 5% drop today unless the II’s get that it’s washing all dirt down early so the sink shines later, let’s see?
They should have cut the divi
The market may view these results negatively. They're reporting an Earnings Per Share Loss and Net Debt has increased to over £36 Billion. The only positive is that they've reiterated their 2024 guidance.
Wow
"Basic loss per share was 1.28 eurocents, compared to basic earnings per share of 3.37 eurocents in the prior year period."
"Net debt increased by €2.9 billion to €36.2 billion (€33.4 billion as at 31 March 2023). This was primarily driven by the
free cash outflow of €2.0 billion and equity dividends of €1.2 billion."
"The interim dividend pershare is 4.5 eurocents(FY23 H1: 4.5 eurocents). The ex-dividend date for the interim dividend
is 23 November 2023 for ordinary shareholders, the record date is 24 November 2023 and the dividend is payable on
2 February 2024."
Thanks ‘fleccy’, couldn’t find these myself. Encouraging numbers.
Should rocket 🚀 interim div held at same 2022 level, and improving German performance with inflation down report tmrw should propel this back to 99p :-)
No it's maintained