Member Info for Beo1

The difference is, did my grammatical errors, materially impact the sentence?

I've think shes been very decisive. Will the strategic actions deliver, who knows but they don't happen overnight, unless of course you want to underplay your negotiating hand. You rush the big decisions then you allow the upper hand to the other side. Spain / Italy sale, even the UK merger, no point passing the initiative to 3, give them more for the same %. I think the actions she has taken will deliver a better ROCE. yes lower earnings, but whats the point in small earnings if you can't deliver a return above your cost of capital. Investments should be accretive in FCF, and Italy and Spain just weren't, could she have turned it around instead of divesting? who knows, but will see in a few years with regards the performance under the new entities.

Grammar Man!

the sentence structure implies the holding of 5% is $6.5b, a comma after AST would imply the value of AST is $6.5b. I only mention as when i first read it I assumed the former

Yes typically goodwill is subject to impairment if the PV of the future cash flows of that entity is negative after discounting at the cost of capital. So i guess it depends how big the spread in ROCE was in Germany vs the German element WACC.

I'd even go as far to suggest on the direct to consumer side, people will use the phone a bit more in the festive period. On the flip side roaming charges from the summer months vs winter, the point is there will be some cyclical nature to an element of there revenues, which a YoY counters. But yes the headwinds from lost business can take a bunch of quarters to remove form the PY comparables

Disagree, I'd say the anniversary of a lot of mobile phone contracts would be skewed towards the most recent quarter (eg including Black Friday and Christmas). the anniversary would trigger either the mid contract price rise and/or a new upgrade, which would typically see some uplift in revenue. not saying it would be massively material but I would think there would be some cyclical nature to it. Business side less so.

I know I've said the same below. Just saying sequential isn't 100% reliable either in most instances

Mmm, whilst i don't disagree entirely, need to be careful of Sequential trends due to cyclical variances. EG new phone contracts are black friday / christmas. that "renewal" will crystalise increases when people upgrade to a latest phone, where as YoY will have that in both comparables.

Sorry minimal affect, higher gearing could result in higher interest rates which would affect FCF

Tricky as yes could effect gearing and covenants but has zero effect on FCF.

Some reason spoilt brats on here, (cough cough Garonne)

MDV inherited the Germany Issue, Legislation changes and macro issues, could she have mitigated that, who knows. But she's divested poor growth areas. seen underlying growth Exc Germany of 12%. Yet she should be sacked for the Germany Woes

FY25 Q1 exc Germany 6,721

FY24 Q1 exc Germany 6,003

Growth of 12.0% had it not been for Germany, which again I'd argue we knew all about most of that decline (they have been messaging most of it, so should be priced in Id argue) The Lack of growth bottom line is disappointing but I guess the bundled TV element in Germany was a very profitable element, being effectively a captive shop, hence the government seeing it as not a good deal for consumers.

Ah well called that wrong, what a Croc of xxxx

Germany issues are well known and I'd argue priced in. And in spite of those issues revenue is still up 5%. The real new information is really jogh growth everywhere else

You can tell garonne is back, full of negativity. The company revenue grew 5%. In spite of germany reduction. Not many companies are growing top line by 5%

The growth is YoY, so that means loss of business in July 2024 continues to impact until July 2025, at least, seeing as the law changed in Jul 24 and customers dropped away after that, the headwind will last beyond July 25 but will start to lessen at that point. Q2 was 6.2% Q3 was 6.4% so it worsen a little from what we already knew, but the pace if growth everywhere else was great, to grow at constant exc rates by 5% in spite of germany decline in that number is great.

Some very strong growth numbers with the exception of Germany, which for most part were factors we knew about. Whereas the growth everywhere else us "new" information. Shame no increase in guidance, but feels like a good update on the whole.

The point is the valuation the market puts on a company is a mixture of many things including (and thus underpinning the valuation) the NAV of a company. If a company is using net assets to buy the shares then that element of the valuation will be impacted thus offsetting in some part the accretive % of ownership we have.

Queue Mr muppet regurgitating the same stuff he always does, whilst deliberately missing pronouncing people's moniker so he can make himself seem superior.

Vodacom announced there results today, up over 5% and vodafone own 65% and therefore report all the Earnings of vodacom. The reported LfL growth of 12.6%, alot got diluted due to adverse exc rates though, and considering Africa is 19% of vodafone revenue, it has a material impact

Some strong numbers out of Vodacom. Currency exchange rates not great though, otherwise would have been a great set of results. If Europe can show some growth could be a good set of numbers tomorrow

Make it 72.65 seeing as 72.75 was taken

thanks

72.75 please