Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
When interest rates start declining, and not before. Doubtful that is this year.
Hi Rob. Not sure it matters to any company who gets in any more. They are career politicians now saying what you want to hear to get in, then dealing with the realities of global economics once in office. The debt to fund the promises is getting out of control. There is no more money.
That’s a cheery start to the week.
VOD will not be a pound by this Christmas. There is too much pain stored up in the global financial system.
US interest payments on debt hit $800bn. Bond auctions to pay for it are failing, so the equity risk premium of stocks over bonds is hitting all time highs.
As a quasi bond, VOD is more likely to go down than up by Christmas.
If you believe In the management and the long term strategy (?) then you’ll get offered some bargain prices, but not a quick profit at a pound.
Starlink direct to Cell is announced. Text in 2024, voice, data and IOT connections 2025.
Business only listed on site at present. Updating satellites to do it takes time, but considering they said it couldn't be done, the threat to tower based coms moves forwards.
No white swans. Definite Flock of Seagulls. A new wave perhaps.
FED comments depressing the markets today. Another quarter point then hold for an extended period. Bond yields up. Div stocks less attractive.
Northern Rock had no issue with gutters mates not paying their loans. They had become reliant on short term funding market to service their own debt that they were lending out long term. When the short term funding market seized up, it was northern rock who could not service their own debts.
If you are going to educate gutter, probably helps to get the facts right.
Happy Sunday everyone.
What are you expecting Margherite to sort out. Until stakeholders admit the fault in the current strategy and stop wasting borrowed money on dividends, and reinvest instead, nothing has changed so nothing will change.
Margharite has just continued with the bad strategy and shows no signs of being different. She can sort nothing out until the strategy is changed.
Tough lesson for the weekend, but there we are.
I think he means the unfathomable trillions of commercial real estate loans that can’t be refinanced globally leading to the complete meltdown of the bank system underpinning the debt based economy leading to financial hardship unrest then war.
Then again, it may all just blow over.
Who will be right tomorrow. Can hardly contain myself.
The mole has it currently at €13.5bn. Based on real FCF and the markets desired ROR on that cash flow which gone up significantly with higher interest rates.
I agree though the assets could have a higher value for an industry purchaser. Will someone go for it? I remain in the no camp at it’s current value.
VOD really should of been establishing a sat network instead of wasting money on a div this last 10 years.
I think the consensus is now 100% for a FED pause, which means they will raise rates to remind us who is in charge. They can justify it with the MoM data which shows inflation rising again.
Positive response to uk inflation falling more than thought. Still at 6.7 but going in the right direction.
Attention will then switch to US where the rising oil price will probably give a false negative in the data causing FED to raise again.
Will they won’t they. What fun.
Bit early to call it on rates peaking. They should, but central banks are not being logical. ECB just raised again.
The VOD catch 22. Borrow more to pay a div to maintain the SP to keep borrowing costs low on the money you borrow to pay a div…
It’s a thought.
Robina, VOD are shrinking, not growing. That is what the city don't like.
Even on the managements own 'adjusted' metrics, they plan to reduce EBITDAL by 9% and adjusted FCF by 31% in 2024 year, compared 2023.
Selling off some key assets and shrinking market share through planned mergers is helping distract retail investors, but the city are not buying it.
Div is also not covered by actual FCF, so need to borrow or use asset sale cash to pay it.
Dig deep into the figures and make realistic projections before investing.
Pension fund just launched a lawsuit against Amazon suing them for picking Bezos Blue Origin as the launch provider for Project Kipper.
They know this inside deal is going nowhere. Just a way for Bezos to get Amazon to feed cash into Blue Origin which has barely managed 22 launches since 2016. VOD should of done more DD before backing this. Hopefully they have not paid anything upfront.
For comparison, SpaceX does 22 launches every 10 weeks now, cutting that to every 2 months from Jan 2024. By the time Blue Origin have launched one sat, say 2 years from now, spaceX will of launched another 14,000 (12 launches per months 50 sats per launch). You see the problem?
https://www.theregister.com/2023/09/04/project_kuiper_amazon_lawsuit/
Moley always with the reality check. Project Kipper despite starting in 2019 have not even launched a sat yet. They gave the contract, no surprise, to Blue Origin, who are not doing too well.
Starlink meanwhile has 4000 up there. Just no need for another LOE net launched, eventually maybe, by very expensive one shot rockets.
VOD late to the party and partnering with the also ran with a higher cost base I’m afraid.
Where are the incredible cash flows? Barely 1.5bn according to their own accounts.