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Share Name Share Symbol Market Type Share ISIN Share Description
Vodafone Group Plc LSE:VOD London Ordinary Share GB00BH4HKS39 ORD USD0.20 20/21
  Price Change % Change Share Price Shares Traded Last Trade
  2.20 2.06% 108.76 67,036,113 16:35:07
Bid Price Offer Price High Price Low Price Open Price
108.76 108.84 109.00 106.34 107.94
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mobile Telecommunications 39,964.45 706.45 -2.78 29,174
Last Trade Time Trade Type Trade Size Trade Price Currency
17:58:37 O 23,892 107.461 GBX

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DateSubject
22/10/2020
09:20
Vodafone Daily Update: Vodafone Group Plc is listed in the Mobile Telecommunications sector of the London Stock Exchange with ticker VOD. The last closing price for Vodafone was 106.56p.
Vodafone Group Plc has a 4 week average price of 100.54p and a 12 week average price of 100.54p.
The 1 year high share price is 169.46p while the 1 year low share price is currently 92.76p.
There are currently 26,824,338,960 shares in issue and the average daily traded volume is 76,136,659 shares. The market capitalisation of Vodafone Group Plc is £29,174,151,052.90.
21/10/2020
12:00
spud: https://uk.sports.yahoo.com/news/vodafone-share-price-one-best-092443416.html Vodafone has been working through some severe headwinds over the past few years. Rising competition in its core UK and European markets, as well as an ongoing battle with authorities in India, have dampened investor sentiment towards the group. A highly leveraged balance sheet also forced management to cut the company’s dividend last year, to free up more cash for debt repayment. However, it looks as if the business has worked through many of these issues. A couple of months ago, the group announced that it would stick by its final dividend for the year. This was thanks to free cash flow growing by more than a tenth to €4.9bn during the first half. Meanwhile, pre-tax return on capital employed — a measure of profitability for every £1 invested in the business — rose from 5.3% to 6.1%. These numbers tell me that Vodafone is progressing with its transformation. Indeed, management attributed part of the higher return on assets to the group’s digital transformation and improving asset utilisation. Unfortunately, group debt continues to weigh on the Vodafone share price. Net debt ballooned by more than half to €42.2bn in the first part of the company’s current financial year. The purchase of Liberty Global‘s European assets was responsible for a large part of the increase. Still, the group says it’s on track to list its European tower business in the first half of next year, which should give the company a cash infusion. It’s also planning to deliver €1bn net cost savings from its three-year digital transformation programme. Considering all of the above, I reckon that while the near term outlook for the Vodafone share price is uncertain, in the medium to long term, the stock should prove to be a good investment. More importantly, it doesn’t seem as if the company is going to cut its dividend again any time soon. That’s good news for income investors. The stock currently supports a dividend yield of 7.5%, giving it one of the highest dividend yields in the FTSE 100. This level of income also implies that investors will be paid to wait for the company’s turnaround to play out. Further, the Vodafone share price looks desperately cheap after recent declines. The stock is trading at an enterprise value-to-earnings before interest tax depreciation and amortisation (EV/EBITDA) ratio of 4.2. The rest of the telecommunications sector is dealing at an EV/EBITDA ratio of 5.2, suggesting Vodafone is undervalued by around 25%. spud
08/10/2020
07:00
muscletrade: The working from home trends driving tech stocks Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) have so far done little for shares in the telecoms sector after a woeful year for the likes of Vodafone and BT Group. The gulf in tech/telco performance was highlighted today by Deutsche Bank in a note focusing on Vodafone, whose share price it thinks is out of kilter with fundamentals. As such, it should be trading at 230p rather than near to a post-Covid low of around 110p currently. Deutsche said telco business models are substantially resilient to Covid-19 and should benefit from the working from home phenomenon, given increased internet usage and data traffic. The lack of international travel is one negative factor due to the impact on roaming revenues, with Vodafone's exposure to emerging market currencies another drag in the pandemic. The shares had rallied 40% to 141p by mid-June — helped by the payment of a 4.5 cents final dividend in annual results — but have fallen back again in recent weeks. They are now trading at just 12p or 12% above their March low, despite Q1 figures in July highlighting service revenues in line with expectations. It's been a similar share price story at BT Group (LSE:BT.A), although its lowly £10 billion valuation more reflects the uncertainty caused by the cost of funding the rapid roll-out of full-fibre broadband. Deutsche thinks market forces may be at play in the sector's underperformance, given that local indices account for about 75% of the variation in European telco stock price moves. Following on from this logic, a post-Brexit trade deal could work in favour of the sector. The bank added: “In the absence of a deal, telcos should be less impacted due to their predominantly domestic nature and outperform the UK market at least.” One big reason for Deutsche favouring Vodafone is the company's ability to continue paying a healthy dividend with an 8% yield. The bank also highlighted the value of Voda's infrastructure assets and the prospect that the company will resume growth next year. It is also looking forward to next year's Frankfurt IPO of Vantage Towers, the company's phone masts business boasting 68,000 towers and leading positions in almost all of its nine markets. A capital markets day due on 17 November will focus on the Vantage sale and should at least help shine a light on the broader value of the company's assets. Deutsche also expects half-year results due the day before to provide investors with some encouragement on Vodafone's trading outlook and dividend policy. The company has a loyal following among retail investors, based on factors such as its sheer size, cash generative ability and chunky dividend yield, which is particularly attractive when many companies have recently chosen not to pay out at all. Deutsche added: “Chief risks to our ‘buy’ rating stem from increased competition, forex volatility, execution on integrating recently acquired assets and longer-term economic malaise due to the virus.”
07/10/2020
13:56
ariane: Vodafone shares: 8% dividend yield and potential to double by Graeme Evans from interactive investor | 7th October 2020 12:55 This expert believes a post-Brexit trade deal could boost the sector and share prices. The working from home trends driving tech stocks Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) have so far done little for shares in the telecoms sector after a woeful year for the likes of Vodafone and BT Group. The gulf in tech/telco performance was highlighted today by Deutsche Bank in a note focusing on Vodafone, whose share price it thinks is out of kilter with fundamentals. As such, it should be trading at 230p rather than near to a post-Covid low of around 110p currently. Deutsche said telco business models are substantially resilient to Covid-19 and should benefit from the working from home phenomenon, given increased internet usage and data traffic. The lack of international travel is one negative factor due to the impact on roaming revenues, with Vodafone's exposure to emerging market currencies another drag in the pandemic. The shares had rallied 40% to 141p by mid-June — helped by the payment of a 4.5 cents final dividend in annual results — but have fallen back again in recent weeks. They are now trading at just 12p or 12% above their March low, despite Q1 figures in July highlighting service revenues in line with expectations. Vodafone: Q1 results and an IPO in 2021 Share Sleuth: putting profits to work to add a new holding It's been a similar share price story at BT Group (LSE:BT.A), although its lowly £10 billion valuation more reflects the uncertainty caused by the cost of funding the rapid roll-out of full-fibre broadband. Deutsche thinks market forces may be at play in the sector's underperformance, given that local indices account for about 75% of the variation in European telco stock price moves. Following on from this logic, a post-Brexit trade deal could work in favour of the sector. The bank added: “In the absence of a deal, telcos should be less impacted due to their predominantly domestic nature and outperform the UK market at least.” One big reason for Deutsche favouring Vodafone is the company's ability to continue paying a healthy dividend with an 8% yield. The bank also highlighted the value of Voda's infrastructure assets and the prospect that the company will resume growth next year. It is also looking forward to next year's Frankfurt IPO of Vantage Towers, the company's phone masts business boasting 68,000 towers and leading positions in almost all of its nine markets. A capital markets day due on 17 November will focus on the Vantage sale and should at least help shine a light on the broader value of the company's assets. Deutsche also expects half-year results due the day before to provide investors with some encouragement on Vodafone's trading outlook and dividend policy. The company has a loyal following among retail investors, based on factors such as its sheer size, cash generative ability and chunky dividend yield, which is particularly attractive when many companies have recently chosen not to pay out at all. Deutsche added: “Chief risks to our ‘buy’ rating stem from increased competition, forex volatility, execution on integrating recently acquired assets and longer-term economic malaise due to the virus.”
05/10/2020
15:54
davius: I have been mostly out of everything since March, just trading shares from time to time whenever I thought something looked good value, or when the markets took one of their frequent hits. Lately I've been buying Vodafone, I've always been attracted to it in the region of a pound and have been buying for a month or so. The indicative price of the towers business is worth about 70p per share, a share price under 140p looks attractive. II Closing report this afternoon: Vodafone closed up 4.7% after the telecommunications firm noted progress on the merger of Indus Towers and Bharti Infratel following the satisfaction of certain conditions. The merger - first agreed in April 2018 - will see Vodafone merge its Indian mobile tower joint venture with a local rival to create the world's second largest tower mobile company. The FTSE 100-listed telecoms company said the agreement to proceed with the merger was conditional on consent for a security package for the benefit of the combined company from Vodafone's existing lenders for the EUR1.3 billion loan used to fund Vodafone's contribution to the Vodafone Idea rights issue in 2019. On Monday, Vodafone stated that consent has now been received from its lenders, adding that all parties will now approach the National Company Law Tribunal to make the merger scheme effective.
05/10/2020
11:55
spud: https://www.standard.co.uk/business/vodafone-ipo-flotation-vantage-towers-a4563161.html Vodafone today hired a big shot German industrialist to chair its huge international phone masts division ahead of its stock market flotation planned for next year in an IPO that could value it at e20 billion. Rudiger Grube, former boss of the German rail giant Deutsche Bahn and ex-chairman of Airbus was hired to head Vantage Towers' supervisory board "in preparation for its IPO in early 2021", Vodafone said. The business is expected to float on the Frankfurt exchange, leading to Vodafone shareholders getting back billions of euros of value for the business, which owns 68,000 towers across nine countries. Grube had a long career at Daimler before becoming chief executive of Deutsche Bahn. Vodafone cited his experience in running capital intensive infrastructure projects as well as service-based industries. It also said he had strong political and business connections in Europe and was used to dealing with companies with varying stakeholder interests to manage. Vodafone is assembling an independent board for Vantage Towers as it prepares the ground for its giant flotation. The company's shares have underperformed for years and the flotation is hoped to reinvigorate the price. Vantage's team are expected to be urging fund managers to invest in the IPO to capture profits from future growth from 5G rollout as big telecoms operators use its masts to put up their infrastructure. They are also expected to pitch it more generally as an investment play in the growth of data usage. Vantage Towers chief executive Vivek Badrinath said: "I look forward to working with [Grube] and the wider supervisory board to drive our strategy to enable Europe's digital transformation and to benefit from the attractive long-term trends delivering growth and value opportunities across each of our markets." Grube said he looked forward to "delivering a successful IPO". Vodafone will retain a majority stake in the business after the flotation, which Barclays analysts have valued at about e21 billion based on the value of Italian towers company Inwit. Towers businesses such as Inwit and Spain's Cellnex have increased in value over the past 18 months, encouraging big telecoms companies to sell. Vodafone chose Frankfurt over London for the float during the summer. It was seen as a blow for the London Stock Exchange but Vodafone chief executive Nick Read said the decision had been made because the lion's share of the masts were in Germany so it would attract more investors there. Vodafone hired long-term Heineken chief executive Jean-Francois Van Boxmeer as its group chairman in May. spud
30/8/2020
23:14
buywell3: What will happen in 2021 ? SARS-CoV-2 does not look like going away IMO as worldwide case numbers confirm India is in a very bad situation and looks like taking worldwide numbers to 50M by Nov 5th IMO Is there a case to be made for increasing Covid-19 case numbers = increasing VOD share price ?
29/5/2020
06:44
muscletrade: Struggling telecommunications firm Vodafone-Idea saw its share price jump 15% in the initial few minutes of trade on Friday as investors reacted to the news of internet giant Google considering a 5% equity stake buy in the company. Vodafone Idea stock has been hammered on Dalal Street severely in the last one year, falling over 56% till yesterday. Google, although talks are in very early stages as reported by The Financial Times, could see itself battling Mark Zuckerberg’s Facebook if it invests in Vodafone-Idea. The stock was trading at Rs 6.65 per share on NSE. Vodafone-Idea — the joint venture between UK-based Vodafone and India’s Aditya Birla Group — has been struggling to stay afloat after the Supreme Court of India refused to budge on the demand that telecom operators pay their Adjusted Gross Revenue (AGR) dues. For Vodafone-Idea the amount, as calculated by the Department of Telecommunications, stands at Rs 58,000 crore. Kumar Mangalam Birla, the Chairman of Aditya Birla Group had earlier this year said that the company might ‘shut shop’ after the AGR ruling by the Supreme Court while Vodafone refused to inject more funds into the Indian venture and also wrote-off the entire value of its Vodafone-Idea stake. The firm’s self-assessment puts the AGR dues figures at Rs 21,533 crore of which the company had paid Rs 6,500 crore till the middle of March. The investment will not just save the cash-strapped Vodafone-Idea but will also pit Google against Facebook, which has recently invested Rs 43,574 crore in Mukesh Ambani’s telecom venture Reliance Jio for a 10% equity stake. With the growing user base of mobile internet data in India, the two internet giants could battle for supremacy. India’s telecom industry is witnessing a three-horse race currently, with Bharti Airtel and Reliance Jio fighting for the top spot and Vodafone-Idea lagging behind for quite some time now. India’s richest man Mukesh Ambani has stepped up his game as he targets the number one spot. Ambani has roped in $10 billion or Rs 75,000 crore in a month’s time from foreign investors for Jio Platforms Limited. Among investors who have picked up a stake in Jio are — Facebook, KKR, General Atlantic, Vista Equity Partners, and Silver Lake. The attractive telecom space in India which is still to chart many milestones is seeing more and more internet mobile data usage during the nation-wide lockdown.
13/5/2020
06:54
muscletrade: Results from Vodafone PLC (LON:VOD) got a positive report card from City analysts for its annual results, with maintenance of the dividend a highlight after 43 of the FTSE 100 have so far cut, suspended, deferred or cancelled their payouts amid the coronavirus outbreak. The telecoms group's full-year numbers were "reassuring on a number of fronts", analysts at UBS said, with many more positives than negatives. One of the key upbeat notes was that organic service revenues of 1.6% in the fourth quarter were notably ahead of the consensus forecast of 0.9%, with the improvement driven by notably lower declines in Spain and Italy. With a massive €42.2bn debt mountain to chip away at, other highlights picked out by the Swiss bank's number crunchers were that the planned 'monetisation' of the European Towers arm via an IPO early next year “should lead to a step-down in leverage”; while there was also heart taken from the new announcement of a €1bn of run-rate savings to be made in the coming three years, up from €400mln that had previously been factored in. Dividend in focus While the outlook remains somewhat clouded by coronavirus, UBS hailed the maintenance of the 9 eurocents dividend, “well covered” by free cash flow and said, “we think there are enough positives for VOD to reverse its recent underperformance vs the sector.” Richard Hunter, head of markets at Interactive Investor, said that the “prodigious cash generator” maintaining its dividend “will be a pleasant relief to increasingly starved income-seekers”;. “The projected yield of over 7%, even if partly driven by a weaker share price, is nonetheless particularly attractive given not only the current interest rate environment but also the relative lack of income options elsewhere,” he said. Comparing to FTSE telecoms peer BT, which cut its dividend last week to preserve cash for investment, was odious, felt William Ryder at Hargreaves Lansdown, as the structures of the two groups differ so much, “but Vodafone shareholders will still be glad their management team feels secure enough to keep paying through the pandemic and transition to 5G”. Indeed, it is “a far cry from last May”, said Russ Mould, investment director at AJ Bell, recalling when Vodafone's new chief executive Nick Read sanctioned the first dividend cut in the company’s history. “Vodafone̵7;s ability to hold the (reduced) dividend rests upon its cash flow, where there was a marked improvement in performance in the year to March 2020,” Mould said, noting that free cash flow jumped strongly as the company optimised its portfolio of assets, cut costs and benefited from ever-growing data and video consumption by consumers via their mobile devices. He noted that the telco is the Footsie's ninth biggest payer in cash dividend terms, based on their last full-year payment. Spinning many plates Looking at the telecoms group's operations, Hunter and Ryder both noted how the multinational nature of the business, especially with the European operations bought from Liberty Global for €18.4bn last summer, means Vodafone is spinning many plates. “But there are signs that the overall picture is improving after some difficult times,” said Hunter, picking out the improvement in revenues and a return to underlying profits from a previous loss of €2.6bn, noting that the increasingly important German business was reaping the rewards of retail growth, offering cost synergies and a “potentially rich seam of cross-selling opportunities”, including from the company's 5G roll-out reaching 97 cities across eight European markets. With the Covid-19 pandemic has been “something of a curate’s egg” for the telecoms group, Hunter added, with international roaming falling 65-75% but being slightly offset by higher data usage and lower customer churn. Ryder noted the biggest wobble among Vodafone's spinning plates was probably the adverse judgement from India’s Supreme Court, which cost shareholders €2.5bn, though he felt that this was relatively small cheese among the whole group, especially as the core business segments were “doing reasonably well, and the group put in a good performance in almost all major markets”. All in all, Hunter felt Vodafone has “defied the odds during a difficult year” and although he felt there is “some considerable way to go in assuaging investors who have seen the shares plummet 46% over the last two years”, he said the market consensus of the shares as a strong buy has not wavered. Indeed, UBS kept its 'buy' rating and 190p price target. Mould was more circumspect, eyeing Shell as an example for how “asset disposals and capex optimisation can only take you so far when it comes to paying a dividend and it still feels as if Vodafone is having to work hard to generate sufficient cash to keep the dividend truly comfortable. “The UK’s 5G auction, whenever it happens, could be the next key test,” he said. “Growth prospects for the [dividend] feel limited as a result and history shows that over the long term it is those companies which prove capable of consistently providing dividend increases that provide the best share price performance and total returns, rather than those that have to fight hard to defend an already fat pay-out. “Vodafone̵7;s unchanged dividend is a clear source of relief for investors today but whether it translates into a sustained rally in the shares from 12-year lows remains to be seen.”
12/5/2020
08:58
volvo: Vodafone chief says he'll stick to strategy despite O2-Virgin Media mega-merger JIM ARMITAGE The Evening Standard Vodafone's chief executive today declared he would stick to his current strategy as a standalone mobile player despite last week's mega merger between O2 and Virgin Media. Analysts say the combination of O2's mobile network with Virgin Media's fixed line broadband will leave Vodafone looking isolated in the UK as a mobile-only company. But Nick Read, Vodafone's chief executive, said Vodafone remained the strongest competitor to BT in serving business customers - 50% of Vodafone's UK operations - and that Vodafone is already the "co-best" UK mobile network alongside BT's EE division. On business, Vodafone offers both mobile and fixed line, having bought Cable & Wireless Worldwide's fixed network in 2012. Read added that, while Vodafone did not have a fixed line network to offer household customers, it could easily wholesale from BT, which has a far bigger network. "We are the main competitor with BT in business and the major challenger in consumer, so we are happy with our organic strategy. Meanwhile, any integration is very complex. [The O2 merger] gives us an opportunity to maintain and enhance our position in the marketplace." He was speaking as Vodafone bucked the trend of major corporations slashing their dividends since the outbreak of coronavirus. Read had already announced a cut in the dividend a year ago to just nine euro cents a share from 15 cents the previous year. Today it pledged to pay that despite the covid turmoil. He explained that Vodafone had an underlying e5.7 billion of free cashflow - better than the e5.4 billion that markets had expected. Next year, despite the covid impact, it was likely to see another e5 billion. The dividend payment, which totals e2.3 billion, means Vodafone remains the FTSE-100's eighth biggest dividend payer, according to research from AJ Bell. Read today reported full year profits of e14.9 billion on an underlying basis, up 2.6% on a year earlier. The group's biggest global operations nowadays are in Germany after it bought the assets there of Liberty Global. Competition in Germany, as well as other European markets, has been fierce. Liberty's move last week to merge its Virgin Media UK broadband and entertainment business with those of Telefonica's O2 was seen as a blow to Vodafone as it had won the lucrative contract to run Virgin Media's mobile business, taking over from BT's EE division. Now, that will be done by O2. Net debt, which was e48.1 billion at the end of the last quarter, was e42 billion as Read fought to bring down the figure. Read has said he could launch a stock market flotation of Vodafone's mobile phone towers. Demand is high among buyers, and recently Vodafone and its Italian partner TIM sold a 4% stake in their Italian towers joint venture, raising around e400 million each. Mobile towers are in huge demand from investors impressed by the reliable, long term income they offer and the growth in demand likely to come from 5G. The TIM sale was priced at a multiple of 20 times its underlying profit, suggesting Vodafone's main towers business could fetch over £20 billion in a flotation. Read warned the economic impact of covid was set to be significant as it sees a big hit to its roaming charges due to the collapse in international travel. Read forecast a longer term impact, also, of people's constrained household budgets. However, he stressed that Vodafone had seen "significant increases" in data volumes as more people surfed and streamed over the internet during the lockdown. While cautioning on reading too much into the recent unusual weeks, he said underlying profits were likely to be "flat to slightly down" next year. In the UK, which makes up about 10% of the company's earnings, profits gained 10% to e1.5 billion on an underlying basis largely due to tough cost-cutting measures. Revenues were fairly flat.
24/4/2020
11:11
spud: Vodafone and TIM both flog a bunch of INWIT shares to pay off debt Scott Bicheno Written by Scott Bicheno 1 day ago https://telecoms.com/503889/vodafone-and-tim-both-flog-a-bunch-of-inwit-shares-to-pay-off-debt/ Less than a month after completing the merger of their towers businesses, Vodafone and TIM have sold an equal chunk of it each to raise some cash. The merger was finalised late last month, giving Vodafone and TIM 37.5% of INWIT (Infrastrutture Wireless Italiane) each. They have now both placed 41.7 million shares, which equates to 4.3% of the total, at €9.60 per share. This will raise around €400 million for each telco group, which they are both saying will be used to ‘reduce leverage’ – i.e. pay down some debt. Each operator group now owns 33.2% of INWIT and the two of them issued almost identical announcements, showing how tightly coordinated this move was. The fact that it comes so soon after the merger itself strongly implies the share placement was all part of the grand plan. Furthermore, at these prices, the tow of them have room to raise a few hundred million more euros if they still feel strapped for cash. While TIM is still reeling from the cost of the last Italian spectrum auction, the nature of the Indian market means it maybe Vodafone that feels in need of fresh funds the soonest. The company announced yesterday that it has channelled $200 million into Vodafone Idea, despite the amount not being due until September. “Vodafone Group has accelerated this payment to provide Vodafone Idea with liquidity to manage its operations, and to support the approximately 300 million Indian citizens who are Vodafone Idea customers as well as the thousands of Vodafone Idea employees during this phase of emergency health measures, taken as a result of the COVID-19 pandemic,” said the announcement. Vodafone Idea owes the Indian government a ton of cash and it remains unclear whether it will be able to pay. In the meantime, thanks to the recent dominance of Reliance Jio, the cashflow situation at Vodafone Idea remains dicey, so Vodafone Group is presumably grateful for any extra cash injections. spud
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