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  5. Vodafone reiterates FY guidance as Q3 revenues rise

Pin to quick picksVodafone Share News (VOD)

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Share Price Information for Vodafone (VOD)

London Stock Exchange
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Share Price: 69.98
Bid: 69.86
Ask: 69.88
Change: 0.82 (1.19%)
Spread: 0.02 (0.029%)
Open: 69.50
High: 70.02
Low: 69.42
Prev. Close: 69.16
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Vodafone reiterates FY guidance as Q3 revenues rise

Wed, 02nd Feb 2022 07:06

(Sharecast News) - UK telecoms giant Vodafone reported higher third-quarter services revenue driven by growth in Europe and Africa as it reiterated annual guidance.
The company on Wednesday said service revenue grew 3.1% on a reported basis to €9.6bn. Total revenue was up 4.3% to €11.6bn.

Vodafone said it still expects adjusted core earnings of between €15.2bn - €15.4bn and adjusted free cash flow of at least €5.3bn.

Chief executive Nick Read, under pressure to improve the company's struggling share-price performance, also addressed the presence of activist investor Cevian Capital on its share register, saying Vodafone was "committed to creating value for our shareholders through proactive portfolio actions and continuing to improve returns at pace".

In Germany, Vodafone's biggest market, revenue grew 1.1% due to lower income from variable call usage and weaker retail activity due to the Covid pandemic and the impact of new telecommunications regulations. Growth suffered last year as roaming revenues plunged on the back of Covid-19 restrictions.



AJ Bell investment director Russ Mould said that the pledge of pacier returns might be enough for the likes of Cevian.

"It could be time for Vodafone to speed up its value generation efforts, and one way is to sharpen its focus on fewer areas rather than have fingers in so many pies. The simplification process has already begun without any activist pressure, but this is a slow-moving beast which could use some gentle prodding to speed along," he said.

"One of the problems is that telecoms by its very nature is a pedestrian sector. That's illustrated by Vodafone's mere 2.7% growth in organic service revenue for the third quarter. Activists don't like to wait around, preferring to look for the quick wins to help drive up business value."

"That could create a culture clash, so expect some fireworks between Vodafone's management and Cevian if it does decide to take a more aggressive approach to pushing for change."

More News
9 May 2023 15:45

UK earnings, trading statements calendar - next 7 days

Wednesday 10 May 
Anexo Group PLCFull Year Results
Asos PLCHalf Year Results
Compass Group PLCHalf Year Results
Dignity PLCTrading Statement
Directa Plus PLCFull Year Results
Georgia Capital PLCQ1 Results
Harbour Energy PLCTrading Statement
Hochschild Mining PLCQ1 Results
HydrogenOne Capital Growth PLCQ1 Results
JD Wetherspoon PLCTrading Statement
MaxCyte IncQ1 Results
Polymetal International PLCQ1 Results
Spirax-Sarco Engineering PLCTrading Statement
Tui AGFull Year Results
Valeura Energy IncQ1 Results
Vertu Motors PLCFull Year Results
Thursday 11 May 
3i Group PLCFull Year Results
Airtel Africa PLCFull Year Results
Eurocell PLCTrading Statement
Donegal Investment Group PLCHalf Year Results
Grainger PLCHalf Year Results
Hurricane Energy PLCFull Year Results
ICG Enterprise Trust PLCFull Year Results
IQE PLCFull Year Results
ITV PLCTrading Statement
John Wood Group PLCTrading Statement
Mediclinic International PLCTrading Statement
Morgan Advanced Materials PLCTrading Statement
Rolls-Royce Holdings PLCTrading Statement
S4 Capital PLCQ1 Results
TBC Bank Group PLCQ1 Results
Friday 12 May 
Allianz Technology Trust PLCQ1 Results
Balfour Beatty PLCTrading Statement
Beazley PLCQ1 Results
CMO Group PLCFull Year Results
Monday 15 May 
CentralNic Group PLCFull Year Results
Cerillion PLCHalf Year Results
Currys PLCTrading Statement
Diploma PLCHalf Year Results
Equals Group PLCTrading Statement
Finsbury Growth & Income Trust PLCHalf Year Results
Instem PLCFull Year Results
JPMorgan Multi-Asset Growth & Income PLCFull Year Results
Westminster Group PLCFull Year Results
Tuesday 16 May 
Angling Direct PLCFull Year Results
boohoo Group PLCFull Year Results
Britvic PLCHalf Year Results
Burford Capital LtdFull Year Results
Cornerstone FS PLCFull Year Results
DCC PLCFull Year Results
Essentra PLCTrading Statement
Greggs PLCTrading Statement
Hyve Group PLCHalf Year Results
Imperial Brands PLCHalf Year Results
Land Securities Group PLCFull Year Results
Likewise Group PLCFull Year Results
Marston's PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Vodafone Group PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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9 May 2023 13:14

Three UK-Vodafone tie-up 'difficult' to conclude - Hutchison CFO

Hutchison and Vodafone in talks since October on UK merger

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9 May 2023 11:34

Three UK-Vodafone UK deal 'probable' - Hutchison CFO

LONDON, May 9 (Reuters) - Hutchison will likely reach a deal on merging its Three UK mobile network with Vodafone's, said its chief financial officer, although he added that getting the deal over the line was difficult.

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5 May 2023 14:23

Berenberg stays at 'hold' on Vodafone, trims target price

(Sharecast News) - Analysts at Berenberg reiterated their recommendation to 'hold' shares of Vodafone, arguing that the choice of Margherita Della Valle as the company's new chief executive officer reduced the risk of a dividend cut or of a warning on capital expenditures.

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5 May 2023 10:06

LONDON BROKER RATINGS: Redburn cuts Flutter; Stifel likes IMI

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
5 May 2023 00:01

UK mobile users spending millions on smartphones they've already paid for, Virgin Media O2 says

LONDON, May 5 (Reuters) - British consumers are spending 530 million pounds ($666 million) a year for smartphones they already own because they are not switching out of bundled contracts once their fixed term ends, research by mobile operator Virgin Media O2 (VMO2) showed on Friday.

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4 May 2023 12:07

LONDON MARKET MIDDAY: Stocks down before all eyes turn to ECB

(Alliance News) - Stock prices in Europe were lower in the early afternoon, as investors look ahead to a key interest rate decision by the European Central Bank, while digesting the Federal Reserve's latest hike, which could be its last for now.

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4 May 2023 11:09

PRESS: Vodafone and CK Hutchison set to unveil GBP15 billion tie-up

(Alliance News) - Vodafone Group PLC and CK Hutchison Holdings Ltd are poised to unveil a GBP15 billion UK mobile tie-up, the Financial Times reported on Thursday.

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4 May 2023 08:29

Vodafone, CK Hutchison set to unveil UK mobile tie-up soon - sources

May 4 (Reuters) - Vodafone and CK Hutchison are close to agreeing a merger of their UK telecoms businesses, two sources said, in an expected 15 billion pounds ($19 billion) deal that would create the country's biggest mobile operator.

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27 Apr 2023 15:03

Vodafone appoints new chief executive, remaining also as finance chief

(Alliance News) - Vodafone Group PLC on Thursday said it has appointed Margherita Della Valle as group chief executive, taking over from Chair Jean-Francois van Boxmeer's temporary responsibilities as interim group chief executive.

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27 Apr 2023 11:58

Vodafone appoints Margherita Della Valle as CEO

(Sharecast News) - Vodafone said on Thursday that it has appointed chief financial officer and interim chief executive Margherita Della Valle as its new CEO.

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25 Apr 2023 12:59

E& lifts stake in Vodafone, discusses board changes

(Sharecast News) - Vodafone's biggest shareholder, Emirates Telecommunications Group, has upped its stake in the London-listed firm and opened talks to push for changes on its board.

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18 Apr 2023 09:23

Vodafone to develop emissions-linked financing programme for suppliers

(Alliance News) - Vodafone Group PLC on Tuesday said it has joined forces with environmental not-for-profit firm CDP to develop a framework that will encourage suppliers to reduce their carbon emissions.

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14 Apr 2023 10:01

Hutchison briefed UK government as Vodafone deal set for regulatory scrutiny

Hutchison had positive meeting - source

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14 Apr 2023 09:46

LONDON BROKER RATINGS: Barclays raises CRH, Tesco price targets

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday afternoon:

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