Vodafone : No recovery in Germany, disappointing 2024 outlook
>Disappointing 2024 FCF outlook - For FY 2024, Vodafone targets flat EBITDAaL of € 13.3bn (consensus € 14.5bn) and FCF after leases down by € 0.9bn to € 3.3bn (consensus € 4.6bn). EBITDAaL includes savings to offset cost inflation. Lower FCF includes higher German investments, interest and working capital, and lower dividends received.The good news (sale of Vodafone Spain, new restructuring initiatives) - Sale of Vodafone Spain to cut debt (ODDO BHF: ...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.
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.
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