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Hi what is the net debt now?
Thanks
A good share to try and catch the bottom imo. You can’t set this org up over night. As of 1st April everyone’s bill has gone up circa 15%. Name a pension fund that doesn’t own this share in a sizeable way. Reduced debt is good. If she can improve the service with less head count, it’s a winner imo.
Spoke too soon. Heading towards 5% down now. Let's see where this ends.
As I was saying before the results were posted..
They've refused to refund me for months even though they've agreed that they owe me the money - not a good sign holding off paying back what you owe to keep the figures artificially higher..
Later !
All news is bad news for VOD share price....so it seems. Going down is the only way.
Ouch
Oh dear ! down we go...
She is taken down !!!
11k job cuts sounds like novekinggood’s customer experience is going to go even more south to me.
Only from selling key assets which you can only do once. Take that out and operating margin is falling., and now they have to rent their own tower network in Germany, which is falling in operating terms.
Still €66bn of debt left including leases, the interest payable on thse having risen.
Yep. Profit for the year increased from €2.8Bn to €12.3Bn too. Just nice to take a moment and recognise those numbers after a torrid few years.
All pretty much as expected really.... with work to do in Italy,Spain,Germany as previously flagged
I didnt think there would be any surprises but that number surprised me.
Its all change at VOD. E& believe it, so do I
Strategic shifts
Our target is to be a best-in-class telco in Europe and Africa, and become Europe's leading platform for Business. To achieve this, we must change in four essential areas.
· We will rebalance our organisation to maximise the potential of Vodafone Business, which continues to accelerate growth, has a unique set of capabilities and has a strong position in a large and growing market as organisations digitise.
· In order to win in our consumer markets, we will refocus on the basics and deliver the simple and predictable experience our customers expect.
· We will be a leaner and simpler organisation, to increase our commercial agility and free up resources.
· We will focus our resources on a portfolio of products and geographies that is right-sized for growth and returns over time.
3. Our action plan
To execute the change in these four areas, we have an action plan already underway, focused around three priorities: Customers, Simplicity and Growth. Early examples of this action plan include:
· Customers: Significant investment reallocated in FY24 towards customer experience and brand
· Simplicity: 11,000 role reductions planned over three years, with both HQ and local markets simplification
· Growth: Germany turnaround plan, continued pricing action and strategic review in Spain
We will change the level of ambition, speed and decisiveness of execution. We will have empowered markets focused on customers, scale up Vodafone Business and take out complexity to simplify how we operate.
A more detailed outline of the new roadmap for the transformation of Vodafone is contained within an accompanying video presentation available here: investors.vodafone.com/results.
https://www.londonstockexchange.com/news-article/VOD/fy23-preliminary-results/15957616
Agreed. Holding existing customers while improving service and brand and lowering overheads is going to be key for future. My heart goes out to the 11,000 job losses but hopefully enough opportunities in the market for them. Good luck all.
Final dividend per share - 4.5 cents.
Ex-dividend date - 8 June 2023
Record date - 9 June 2023
Dividend paid - 4 August 2023.
Selling some assets to reduce debt when the business model is failing just papers over the cracks - the market knows as do their customers..
It needs massive changes from top to bottom - not window dressing..
About bloody time......well done the new lady
Look alright to me. The debt problem has definitely been addressed now
What a fantastic result on debt reduction, one of the biggest things holding the share price back. Down 8bn. Sell Spain, Italy etc and the debt will be close to zero. 11000 jobs, that’s £300-£400m per annum in cost savings or another £1bn market cap. That’s 5% on the share price right there.
They might be struggling for growth but they ain’t struggling for cash or profit.
I think they’ll be a positive reaction in the markets today
As I said.
The company is a disgrace.. I have a quite expensive business account with them - broadband, several phone contracts etc. I left them 15 years ago as they didn't know how to look after customers - I came back 18 months ago - it's now a lot worse..
This is a strong sell and will remain the case until they understand how to look after people properly...!!!
Germany remains under pressure with -1.6%* service revenue growth and -6.1%* adjusted EBITDAaL growth
• Good performance in Vodafone Business with 2.6%* service revenue growth
• Group revenue increased by 0.3% to €45.7 billion driven by growth in Africa and higher equipment sales, offset by lower European service revenue and adverse exchange rate movements
• Adjusted EBITDAaL declined by 1.3%* to €14.7 billion due to higher energy costs, and commercial underperformance in Germany
• Gain on disposal of Vantage Towers supporting significant increase in operating profit and basic EPS
• Adjusted free cash flow of €4.8 billion, reflecting lower adjusted EBITDAaL and tax phasing
• Significant reduction in net debt to €33.4 billion, proforma net debt to adjusted EBITDAaL improved to 2.5x
• Total dividends per share are 9.0 eurocents, including a final dividend per share of 4.5 eurocents
Trust me...
It's like waiting for the starters gun in a race....Who will be first to read digest and post,,,,,Will it be Mikey the ski slope champion or Dan the Vodaman?
I think today is gonna be V-day
https://news.sky.com/story/vodafone-dials-up-sale-of-stake-in-1bn-internet-of-things-unit-12881614
So many big unknown Trades today?