Member Info for RichTheNewbie

No depreciation/amortisation and you'd see a higher tax expense but a higher profit number....they'd still have generated the same money though from operations.

Don't worry.....I can spot a post like that a mile off as I often buy things that have been in a long downtrend....therefore making them commonplace ;)

It actually raises an interesting point tho...although I'm afraid it's not a negative one. Sorry not sorry as the kids say. Which is that the VOD operating profit was €5.097bn AFTER taking off the non-cash depreciation and amortisation of €10.187bn, so add this non-cash amount back in and you can see they really generated around €15.284bn. This big lump of depreciation means the tax bill is lower and makes the profit figures look lower....but the reality is they generated lots of cash.

Indeed. If you've got lots of depreciation/amortisation then it's not really money your paying out of your business right now.
EBIT is more useful than EBITDA in the context most people are talking.
Although I suspect this is all rather moot as it was just an obvious convoluted "I sold so there's no hope for any of you" post and even worse than the usual fare on here ;)

BT's just released an RNS saying they've achieved their cost saving target early sending their shares back up northwards sharply. I think the market is similarly missing a trick with VOD, as large companies can use COVID as cover, to implement unpopular (with staff) cost savings, that are good for shareholders.

In fact there's a clue buried in the last VOD annual report, which says "in response to the trading conditions related to the COVID-19 pandemic, we accelerated a series of cost saving activities, resulting in a €0.5 billion net reduction in operating expenditure in Europe and Common Functions"

It's not something they can crow about too loudly, without irritating their staff, and therefore gets overlooked by the market, imo.

It’s been better because you and the other clown haven’t been posting danielh. Learn from that.

You could say the debt grows and grows but that’s a bit of slight of hand because there’s one big reason the debt is bigger in recent years and that’s that they bought liberty global for $22bn (including their debt).
So a bit like buying a house, yeah you’ve got more debt (the mortgage), but you’ve also got a house to show for it, and more importantly a house that should over time start to generate you more money due to economies of scale / cross selling type efficiencies.

Ignore broker reports and simplifications down to dividend cover.

Think of the buybacks not as a standard buyback but as a way of raising money (convertible bonds), without diluting shareholders, by paying it off later in instalments (buying back the shares to be converted).

As long as VOD can afford its debt and make good money then it doesn't need to pay it off. Few companies operate with no debt.

As an example, the NASDAQ's Debt-to-EBITDA Range Over the Past 10 Years is:
Min: 2.64 Med: 2.77 Max: 8.34
Current: 3.42

VOD's net debt to adjusted EBITDA was 2.8x in the last annual report and they're targetting 2.5-3x.

Comedy gold. Call someone rude names then play the victim. If you don’t want someone to call you childish then don’t call them rude names. You got only one thing right…getting financial advice from this board would be lunacy.

PS - well done Dan and robleo for managing to make yourselves look even more childish. It was hard to imagine that was possible…yet somehow you manage to find new lows far more often than even this share.

There’s zero evidence of that CHRI55 and actually, short interest on Vodafone has been falling throughout 2021, if you look at a graph of it.

This is simply another round of people doing 2+2=22 every time the share price falls.

This is still the same company that rose quickly back from 100 to 140ish, whilst obviously having the same debt/dividend.

Just like BT that’s gone from 100p to over 200p, and now back to under 140p, within a year.

Fact is the market is crazily volatile and FTSE giants are behaving like small caps. It’s not just a Vodafone thing.

On here, that's probably true danielh, generally speaking.
Although there probably has been the occasional sensible comment...but they're hard to spot amongst the mountains of drivel ;)

danielh - it’s strange you still seem to think I care, even remotely, about what you think ;)

Yes….that’s why I said a futile effort. Clearly comprehension of basic English is still sadly lacking on this board.

The market is competitive? Well duh…..that’s hardly news. Neither is Vodafone’s cost cutting. As an investor I’m more than fine with that (not news either though). As for what made the price drop - reading into things that much is a futile (or fools) errand.
These messageboards are full of people who fill pages full of “the world is ending / there is no hope” when the price falls, or is falling, and everyone’s delirious when rising.
Then there’s those who seem to love trying to find negatives when a share is at its lows, I suspect because they’re filth making a futile effort to get a cheaper buy, if not just trolls.

Maybe you should post the “bad news” for Telecom Italia on a Telecom Italia board…unless you’re just trying to find spurious negatives as always…;)

danielh - christ....it's really not that difficult. You made only one statement in your first post of this thread. I disagreed with it. As I said.....it's 24/7 drivel on here and even basic English seems to be a major struggle.

I disagree. And no there’s no chance of coherent discussion here. It’s pretty much utter drivel 24/7.

Why is it the doom merchants can never make a coherent case and always resort to making stuff up...

"Debt rising"....no it's not. Borrowings down, other non-current liabilities down, total liabilities down.

How can they continue paying dividends by adding to the already burdensome debt pile? By generating money....which they do...lots of.

Your analysis seems to be "has some debt" and "is looking at growth opportunities abroad" so it's therefore rubbish and you can't invest.

Simplistic and contrived nonsense imo.

Catching up with that video interview from earlier....
I like the way he starts it off in the first few moments by laughing saying there's no risk of an equity issuance, and also says about current production, that "if you do the math" this points to a slightly stronger Q4, (been reading the boards Eric? :) ).

Having "done the math" earlier it's nice to hear it from the horses mouth.

Basscadet - that would indeed explain your reaction ;) No worries.

Magoo - perhaps...but I think whoever had that expectation hadn't really been paying attention! The AISC aren't really a concern to me since it's obvious they'd be much higher during this brief period and then go back to a good level afterwards. VAT situation seems as good as could be expected (hardly expected them to receive it all overnight - that would be living in a dreamland). As I say...personally I think there was very little of note in the RNS and all much of a muchness. We've just been in a period where we've known for ages that things would be poor, and are coming towards the end of that.