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Prices & Quotes - UK Markets - Vodafone Group (VOD)

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Share Price:
Up 130.82p
Change Today:
0.82p
Market Cap:
36,505m
Sector:
Mobile Telecommunications

Vodafone confident on outlook after return to growth

By Sean Farrell

Date: Wednesday 03 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Vodafone said it was confident about the full-year outlook after its German business drove a return to organic growth in the third quarter.
Organic service revenue rose 0.4% in the three months to the end of December to €9.36bn (8.3bn) compared with a 0.4% drop in the previous quarter. Organic service revenue rose 1% to €2.91bn in Germany, the FTSE 100 telecoms group said in an update.

Total revenue fell 4.7% to €11.2bn. Vodafone reaffirmed its guidance for annual earnings before interest, tax, depreciation and amortisation of between €14.4bn and €14.6bn.

Nick Read, Vodafone's chief executive, said: "I am pleased the group returned to service revenue growth in Q3 as a result of the continued commercial momentum across our business, including our largest market Germany. Our good trading performance underscores our confidence in the outlook for the full year."

Growth in Germany, Vodafone's biggest market, helped offset declines in other European markets including a 7.8% drop in Italy and a 0.4% decline in the UK. Organic service revenue rose 3.3% at the Vodacom African business and 12.3% in other markets such as Turkey and India.

Germany returned to growth after a 0.1% dip in the second quarter supported by higher variable usage during the coronavirus lockdown, a strong performance in business services and a smaller decline in roaming and visitor revenue.

Revenues in other European countries were hit by reduced roaming income with travel at a minimum because of Covid-19 restrictions and increased price competition in markets such as Italy and Spain.

Richard Hunter, head of markets at Interactive Investor, said: "Any improvements in a company of Vodafone's size are likely to be incremental, and the latest set of figures build on the progress being made. Less positively, total revenues are down, with the pandemic's effect on roaming and visitor revenues an obvious drag.

"Vodafone remains a cash generating behemoth ... The dividend remains a key attraction and is comfortably affordable. The current yield of 6.2% is punchy and unusual in its size given the dividend restrictions which have been seen elsewhere."

Vodafone shares rose 2.8% to 130.86p at 08:32 GMT.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Vodafone Group Market Data

Currency UK Pounds
Price 130.82p
Change Today 0.82p
52 Week High 142.42p
52 Week Low 101.70p
Volume 11,655,432
Shares Issued 27,905m
Market Cap 36,505m

Performance Indicators

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What The Brokers Say

Strong Buy 18
Buy 1
Neutral 0
Sell 0
Strong Sell 1
Total 20
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Vodafone Group Dividends

  Latest Previous
  Final Interim
Ex-Div 24-Jun-21 17-Dec-20
Paid 06-Aug-21 05-Feb-21
Amount 4.50¢ 4.50¢

Trades for 15-Jun-2021

Time Volume / Share Price
11:09 22,000 @ 130.82p
11:09 50 @ 130.84p
11:09 1,064 @ 130.82p
11:09 2,100 @ 130.81p
11:08 250 @ 130.80p

Vodafone Group Key Personnel

CEO Nick Read