Member Info for fleccy

I just extracted the reported shorts on Vodafone, from the FCA short positions daily update. I thought people might be interested since much of the recent conversation was around shorting stocks. I wasn't being funny, just adding to the conversation. I probably own as much VOD stock as you Daniel, so I have a vested interest in them doing well.

https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx

It was a high volume day today with 38,319,126 traded. Highest since the 21st Dec when more than 39 million shares were traded. I ignore the after hours off book trades, as I believe many of them are traded during normal trading, and reported after close. The high volume may be because of results day on Thursday. Vodafone report tomorrow, so that may have an impact too.

Tidied up, hopefully:

Position Holder Name of Issuer ~~~~~~~~ISIN ~~~~~~~~~~% ~Position Date
BG Master Fund VODAFONE GROUP PLC GB00BH4HKS39 0.70~ 08/01/2021
BNP PARIBAS SA VODAFONE GROUP PLC GB00BH4HKS39 1.46 23/10/2020
Capstone Global VODAFONE GROUP PLC GB00BH4HKS39 1.12 27/11/2019
Sculptor Capital VODAFONE GROUP PLC GB00BH4HKS39 1.21 17/12/2020

"Trouble is, no-one has got in touch with Reddit about Vod"

I noticed the dialogue about short positions, so I've pasted the one's I found registered with the FCA for Vodafone. Unfortunately the short positions are nowhere near big enough for a short squeeze to work.

Position holder Name of Issuer ISIN % Position Date
BG Master Fund VODAFONE GROUP PLC GB00BH4HKS39 0.70 08/01/2021
BNP PARIBAS SA VODAFONE GROUP PLC GB00BH4HKS39 1.46 23/10/2020
Capstone Global VODAFONE GROUP PLC GB00BH4HKS39 1.12 27/11/2019
Sculptor Capital VODAFONE GROUP PLC GB00BH4HKS39 1.21 17/12/2020

Halifax Share Dealing are introducing an administration charge in 2022. Not good for customers with just a standard share dealing account, who'll go from £0 to £36. Anyone with just an ISA will go from £12.50 to £36. If you have both it will also be £36. I should imagine they'll lose some customers, anyone holding empty share dealing accounts should probably look at closing them if not being used.

"Flat-rate customer administration fee. We’re introducing a new £36 annual customer administration fee (the equivalent of £3 per month) to cover the costs of running our service. This one fee will cover all of your Share Dealing Accounts, ISAs and ShareBuilders, and the first fee will be taken in April 2022.

ISA administration fee. From April 2021, we’ll no longer charge the annual £12.50 fee as this is being replaced by the customer administration fee. We’ll collect your final payment for the 2020/21 tax year in May 2021 in the usual way if you have an ISA.

Online dealing commission. We’re reducing the online dealing commission for all trades from £12.50 to £9.50 from 1st April 2021."

https://www.halifax.co.uk/investing/start-investing/share-dealing-services/charges/changes-to-our-pricing.html

Not sure if anyone's already posted this link, but you can download the FCA daily short position updates spreadsheet.

https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx

Not quite finished, the €850m bond isn't repaid until Jun. 2021, so it'll only be £600M repayment in March (Q4 results). Surprised nobody pulled me up on that ;-) Might make things look a bit better in the FY21 results :-)

"Already previously explained by WM, so absolutely no need to request others do the same thing is there?"

I agree with WM, the cash has likely been used to pay down liabilities/operating costs, no argument there. It appears to have gone anyway. It will be interesting to see if the cash pile drops down to around 1 Billion in the FY21 results, when the time comes, in the meantime I'll leave it at that.
To finish I'll repost some of my previous quotes from the Q2/H1 and Q3 results. DYOR

30th Sep 2020
"Balance Sheet & Liquidity
Ryanair’s balance sheet is one of the strongest in the industry with a BBB credit rating (S&P and Fitch) and over €4.5bn cash at 30 Sep."

"Balance sheet:
Gross cash increased by €694.3M to €4,502.3.0M at September 30, 2020.
Gross debt rose by €1,374.0M to €5,585.2M primarily due to a €850M Eurobond issuance in September 2020 and £600M unsecured debt under the HMT and Bank of England CCFF, offset by €132.3M debt repayments and €38.2M lease liability payments.
Net debt was €1,082.9M at period end. "

31st Dec 2020
"Balance Sheet & Liquidity
Ryanair’s balance sheet remains one of the strongest in the industry with a BBB credit rating (S&P and Fitch) and €3.5bn cash at 31 Dec"

"plans to repay over €1.5bn maturing debt in the next 6-months (incl. CCFF £600m in Mar. & €850m bond in Jun. 2021)."

"Balance sheet:
Gross cash decreased by €317.9M to €3,490.1M at December 31, 2020.
Gross debt rose by €1,295.9M to €5,507.1M primarily due to a €850M Eurobond issuance in September 2020 and the drawdown of £600M unsecured debt under the HMT and Bank of England CCFF in April 2020, offset by €171.9M debt repayments and €61.2M lease liability payments. Net debt was €2,017.0M at period end."

"I find it pathetic that there are individuals around who have nothing better to do than construct post after post on a bb of a company where no shares are held. It is even more pathetic here as shares can no longer be acquired so hoping to get in cheaper is out the window now."

It's not my fault that RYA don't report in a consistent fashion between consecutive Results. Current liabilities include payments to suppliers, lease liabilities, etc, etc, so if the cash has been used to pay down liabilities then it's spent. All I pointed out earlier, is that should the cash burn (including liabilities) match Q3 in Q4, then it will be around a Billion Euros again, add in the 1.5 Billion Euro debt repayments, and the cash balance will reduce 2.5 Billion in Q4, leaving around 1 Billion Euro's in cash. Where's the problem?
Johnbri, If you disagree with what I'm saying, post your analysis and prove me wrong rather than just trying to shut me down. I admit that I could be misreading the results and my posts have to be interpreted as speculative opinion only, but I'd love to read your analysis John and explain how the cash has dropped by approximately a Billion Euros in the quarter, and explain why they wont burn through the same in Q4.

"Re the drop in cash over the three months to 31 December, current liabilities at 31 December were 3.877 bn compared with 5.659 bn at 30 September and 5.5508 bn at 31 March 2020, this is where the cash decrease has been applied.£

So are you saying it's been used on operating expenses, and therefore part of the cash burn calculation?
Whichever way it's looked at, RYA have burnt through a Billion Euros of cash in the quarter, or am I reading it wrong?

"I read as far as “ I am not an AZN shareholder” bye bye"

Haha, your loss.

Just to add to my posts in this thread, I'm not suggesting that RYA have done anything wrong, I'd just be interested to know why there are discrepancies in the figures reported in the different results.
If there are any accountants on here, my question is, why did RYA state "Gross cash decreased by €317.9M to €3,490.1M at December 31, 2020", instead of stating a loss from the Q2 Gross cash figure of €4,502.3.0M? Maybe I've missed something, and RYA have mentioned something about this previously within the Quarter.

One of the questions in the Q&A was about the €1 Billion drop in cash and the answer was that cash generally falls in Q3, an acceleration of passenger refunds, deferred route charges, and ineffective fuel swaps.
If that's the case then RYA burnt through €1.012.2 Billion in the quarter.
Assuming a similar loss for Q4 and adding the reported upcoming €1.5 Billion debt repayment, RYA's cash position may drop around €2.5 Billion in Q4, taking them to around €1 Billion in cash holdings. This is pure speculation on my part, and I might be reading it wrong. I'm also assuming that RYA didn't misreport the €694.3M Gross cash increase in Q2, which doesn't appear to be mentioned in the Q3 results.

So what happened to the €694.3M Gross cash increase reported in the Q2 results?

O Leary's optimism is speculative. Domestic markets will open up before Air Travel, and many will decide to holiday at home this year imo. I imagine many will have pre-booked air travel, mainly by people who own property within the EU, but much will depend on the emergence of new strains and the effectiveness of vaccines.

OK, something funny here.

In the Q2 H1 results, RYA reported "Gross cash increased by €694.3M to €4,502.3.0M at September 30, 2020."

In the Q3 results RYA reported "Gross cash decreased by €317.9M to €3,490.1M at December 31, 2020."

€4,502.3.0M - €694.3M - €317.9M = €3,490.1M

If you were to look at the Q3 results alone, it's like the €694.3M Gross cash increase reported in Q2 never happened. What's going on there? I have to say that I'm only taking a cursory look at the results. I'm not sufficiently interested to go through the results line by line.

"Balance sheet:
Gross cash decreased by €317.9M to €3,490.1M at December 31, 2020.
Gross debt rose by €1,295.9M to €5,507.1M primarily due to a €850M Eurobond issuance in September 2020
and the drawdown of £600M unsecured debt under the HMT and Bank of England CCFF in April 2020, offset by
€171.9M debt repayments and €61.2M lease liability payments. Net debt was €2,017.0M at period end."

Just had a quick glance at the Q3 results, and noticed that Ryanair's cash balance has dropped by 1 Billion Euro's between 30th Sep 2020 and 31st Dec 2020.Anyone have any idea where this Billion Euros has gone, I have to assume a large percentage of that is cash burn, but I haven't read through the full text yet.

30th Sep 2020
"Balance Sheet & Liquidity
Ryanair’s balance sheet is one of the strongest in the industry with a BBB credit rating (S&P and Fitch) and
over €4.5bn cash at 30 Sep."

31st Dec 2020
"Balance Sheet & Liquidity
Ryanair’s balance sheet remains one of the strongest in the industry with a BBB credit rating (S&P and Fitch)
and €3.5bn cash at 31 Dec"

Ryanair also state that they intend to pay down 1.5 Billion Euros of debt in Q4.

"plans to repay over €1.5bn maturing debt in the next 6-months (incl. CCFF £600m in Mar. & €850m bond in Jun. 2021)."

https://investor.ryanair.com/wp-content/uploads/2021/02/Ryanair-Q3-FY21-Results.pdf

"Oh Dear Flecyy, you seen to focus your attention on "Sanfio""

Apologies for my last post TR64, I didn't realise you're Dyslexic, but that seems clear now. You even spelt Sanofi wrong and put it in quotes for good measure.

Valneva may be being produced in Scotland, but it's yet to pass trials. If it passes trials, expected to be the end of 2021, it's likely that the whole UK population will be vaccinated by then, so we'll be able to sell it to the French so that they can vaccinate the 30 million people still waiting on the EU scheme.

"fleecy, I was putting specifics on AZN, not general UK investment in covid, perhaps they paid a lot for the French Vaccine."

Why do you keep referring to someone called fleecy, my username is Fleccy? Are you a spam merchant, just posting rubbish to get some sort of inflammatory exchange? As you know, the French vaccine attempts were failures, with Sanofi now agreeing to manufacture the Pfizer vaccine, not a good advertisement for France. I wont reply to any further posts referring to fleecy, as my username isn't fleecy, so you can't be referring to me.

TR64, here's a few more paragraphs from the same article:

"The UK government has spent nearly £12 billion on Covid-19 vaccines so far, but expects costs to mount up over the coming years, according to the National Audit Office.
NAO says the government believes the total cost of its plans to secure, manufacture and deploy vaccines—as well as its contribution to global vaccine efforts—has been up to £11.7bn so far."

"UK spent nearly £12bn on Covid vaccines, with more needed"

https://www.researchprofessionalnews.com/rr-news-uk-politics-2020-12-uk-spent-nearly-12bn-on-covid-vaccines-with-more-needed/