Report
Stephane Beyazian

Vodafone : A new Vodafone for 2025 but still under pressure in Germany

>2025 targets pro forma for disposals stable versus 2024 - For FY 2025, Vodafone aims for pro forma adjusted EBITDAaL of € 11bn (in line with the consensus at € 10.8bn) and pro forma adjusted FCF of at least € 2.4bn (in line with the consensus forecast of € 2.35bn). These pro forma targets are broadly stable from one year to the next and are adjusted for the sale of Vodafone Italy, Vodafone Spain and forex impacts. The priorities for 2025 are as expected: strateg...
Underlying
Vodafone Group Plc

Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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