Vodafone Financial & Performance – Page 11

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    Vodafone Q2 FY20–21


    Cost-cutting props up performance during COVID-19-hit quarter and CFO indicates she is preparing to step up efficiency plans further. Lag in delivery of leadership’s “Phase Two” plans, including Tech 2025, muddying attempts to assure stakeholders of a brighter future. Lots of talk of “underlying” strength as Group’s leadership seeks ...

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    Headline numbers: weathering the storm, for now


    Key numbers relatively solid, reflecting telecoms sector’s cushioning from worst of pandemic disruption. Cost-cutting props up earnings, offsetting top-line weakness. Results preceded latest coronavirus response measures, which will have exacerbated drag on roaming revenue. Government support measures and resumption of international travel cited as key to maintaining solidity.

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    Spend: Della Valle dials it up on COVID cost-cutting


    CFO flags acceleration of savings push during H1, and possibility of a further expansion of ambitions for the post-COVID era. Planned developments at Vodafone Procurement Company briefly mooted. Stark Retail and Shared Services cutbacks detailed.

  • Visita centre nou Vodafone

    Guidance: tightly-wound numbers obscure future


    On a like-for-like basis, Vodafone Group is holding its own in the pandemic so far and leadership appears confident regarding short-term outlook. Longer-term prospects remain a question mark, however, especially as cost-cutting — rather than the top-line growth — is keeping the Group on a steady course. Asset sales ...

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    Europe: Read stresses asset line-up is not settled


    Vodafone leadership considering next phase of Group strategy, and indicates M&A moves could form part of new medium-term plan. Group open to solutions in markets not generating sufficient return on capital employed. Germany’s importance to Vodafone on display again; commitment to other markets less obvious.

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    Africa: resilient SA helps Vodacom through crisis


    Vodacom continues to perform well despite regulatory and macro pressures across its regional footprint. However, unfavourable currency trends remain fly in the ointment when Group’s results are translated to Vodafone’s P&L. No sign yet that Vodafone management is going cool on its commitment to Africa, despite weaknesses and willingness ...

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    Strategy & Change

    Liberty likes idea of VodafoneZiggo listing


    Vodafone partner’s CFO argues that an IPO would command “premium valuation” in comparison with incumbent KPN. Bracken casts Vodafone as “wonderful partner”, and that the JV has done a “great job” in cutting costs and increasing revenue. Talks enthusiastically about VodafoneZiggo as “national FMC champion”. ...

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    Vi cashes in from Indus Towers–Infratel merger


    Vodafone’s loss-making JV in India gets a much-needed cash boost from sale of Indus stake. Vi reportedly in talks with private equity investors to raise more funds.

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    Forthnet share shuffle puts United Group in charge


    Pending takeover ends will-they-won’t-they saga of possible Vodafone and Wind buyout. Forthnet MVNO supported by Vodafone Greece yet to be launched commercially, but reflects competitive threat for OpCo to ponder. Move for Wind rumoured as next step for United.

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    Elsewhere in Vodafone Africa: Safaricom shareholder base sees changes


    Big boys making their presence felt in Safaricom’s owner family; Loon nearing Mozambique launch.

  • O2 bill prompts Drillisch profits warning

    O2 bill prompts Drillisch profits warning


    MVNO Drillisch is continuing to hit roadblocks, and get battered on costs, as O2 and the other German operators play hardball on contract terms.

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    Public Affairs

    Vodacom’s Congo CFO gets out of jail


    Chutoo endures four-day stint behind bars. CFO reportedly quizzed on allegations of “forgery” and “falsification of financial statements”; but no formal charges. Vodacom DRC expresses surprise.

  • Q1 FY20–21: Group sticks to script in face of COVID

    Vodafone Q1 FY20–21


    What ‘new normal’? Leadership pressing on with long-running efficiency and asset sale plans regardless of coronavirus disruption. Hints of bottlenecks owing to top duo’s workload. Group Finance’s €1bn cost-cutting plan “proceeding very well”. Footprint retrenchment not necessarily done, with some OpCos still appearing stuck on the margins. Currency weakness ...

  • Headline performance: Germany and the rest

    Vodafone Q1 FY20–21 headline performance: Germany and the rest


    COVID-19 blow cushioned: strength in Germany and Portugal, with mixed performances elsewhere. Currency weakness turning Read’s focus on Africa sour.

  • Spend: no obvious change of course, post-COVID-19

    Vodafone Q1 FY20–21 spend: no obvious change of course, post-COVID-19


    Any post-COVID-19 spend strategy changes appear to either be being kept under wraps, or subjugated by leadership focus on keeping the business on track.

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    Strategy & Change

    Vodafone puts over €1bn of projects in green basket


    Group’s interest in chasing Green Bonds shows opportunities for suppliers and partners that can link their products and services to energy and emissions goals. Vodafone’s healthy pipeline of projects boosted by inclusion of older network upgrades, including single RAN deployment. Ongoing efficiency focus likely to ensure the Green Bond ...

  • abhimanyu-balhara-DFsWoFOGPlg-unsplash
    Financial & Performance

    Jio turns into Vodafone Idea’s worst digital nightmare


    Massive Google investment underscores both Jio’s domination and its ambition to develop wide range of popular digital services. Who’s Who of foreign investors, which includes digital-savvy Facebook, now accounts for nearly a third of Jio Platform equity. Vodafone’s long-term outlook in India looks even more perilous than before, after ...

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    Financial & Performance

    Vodafone Idea down to third spot in Indian mobile


    Airtel moves ahead of troubled joint venture, which has jettisoned more than a quarter of its wireless subscriber base since being formed. 

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    Vodafone Q4 FY19–20 management update: staying the course, post-coronavirus


    Read infers Group is better placed, post-Colao for economic downturn. Della Valle confirms new, AT Kearney-inspired €1bn cost-cutting plan, after trailering move in late-2019. No disruption to Read’s M&A overhaul, beyond Egypt. Targets hit but glitchy performance, both at OpCos and Vodafone Business.

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    Facebook gives Jio a multi-billion pound like


    Rival Jio gets fillip from hefty FDI and Facebook digital expertise. Unnamed VfI exec does not rule out similar webscale tie-up for the embattled JV. Indian JV relinquishes last urban stronghold and is set to lose second spot overall.