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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Vodafone Group Plc    VOD   GB00BH4HKS39

VODAFONE GROUP PLC

(VOD)
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Vodafone : Raises Fiscal Year 2020 Earnings Guidance on Liberty Global Gains

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11/12/2019 | 02:46am EST

By Adria Calatayud

Vodafone Group PLC on Tuesday raised its adjusted earnings guidance for fiscal 2020, benefiting from its acquisition of certain Liberty Global PLC assets in Europe and the sale of its New Zealand operations.

The British telecommunications company upgraded its earnings outlook as it said that lower cash flows from India and the New Zealand sale will lead to slightly lower-than-previously-expected cash flow and posted a narrowed pretax loss for the first half.

Vodafone said it now expects adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred profit metric, which strips out exceptional and other one-off items--of between 14.8 billion and 15.0 billion euros ($16.32 billion and $16.54 billion) for the year ending March 31, 2020. The company had previously guided for adjusted Ebitda of between EUR13.8 billion and EUR14.2 billion.

This implies organic growth for the full year of between 2% and 3%, Vodafone said.

Pretax loss for the six months to Sept. 30 was EUR511 million compared with a loss of EUR2.89 billion for the year-earlier period, the British telecommunications group said. In the first half of fiscal 2019, Vodafone booked a large loss on the sale of Vodafone India.

Revenue for the first half was up 0.4% at EUR21.94 billion, the company said. Organic service revenue--a figure closely watched by analysts--was up 0.3% for the first half and up 0.7%for the second quarter.

Vodafone said adjusted Ebitda was EUR7.11 billion in the first half of fiscal 2020, up 1.4% on an organic basis benefiting from cost savings.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
LIBERTY GLOBAL PLC -2.23% 21.695 Delayed Quote.3.91%
VODAFONE GROUP PLC 0.59% 143.58 Delayed Quote.-6.64%
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Financials (EUR)
Sales 2020 45 304 M
EBIT 2020 4 710 M
Net income 2020 2 191 M
Debt 2020 46 222 M
Yield 2020 5,35%
P/E ratio 2020 36,5x
P/E ratio 2021 21,0x
EV / Sales2020 2,02x
EV / Sales2021 1,87x
Capitalization 45 491 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 2,20  €
Last Close Price 1,69  €
Spread / Highest target 65,7%
Spread / Average Target 30,0%
Spread / Lowest Target -27,0%
EPS Revisions
Managers
NameTitle
Nicholas Jonathan Read Group Chief Executive Officer & Executive Director
Gerard Johannes Kleisterlee Chairman
Margherita Della Valle Group Chief Financial Officer & Director
Johan Wibergh Group Chief Technology Officer
Renée Jo James Independent Non-Executive Director
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