As in Q1, a quite correct resilience to the COVID-19 impacts in Q2. The good news is indeed the H1 EBITDAal margin, which was stable yoy despite the slight decline in revenues. Free cash flow should therefore be at least €5bn for the whole year. So we have no concerns about Vodafone’s dividend and we remain at Buy on the stock.
16 Nov 2020
A reassuring flat EBITDAal margin in H1
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A reassuring flat EBITDAal margin in H1
Vodafone Group Plc (VOD:LON) | 66.8 0.4 0.9% | Mkt Cap: 18,079m
- Published:
16 Nov 2020 -
Author:
Jean-Michel Salvador - Pages:
As in Q1, a quite correct resilience to the COVID-19 impacts in Q2. The good news is indeed the H1 EBITDAal margin, which was stable yoy despite the slight decline in revenues. Free cash flow should therefore be at least €5bn for the whole year. So we have no concerns about Vodafone’s dividend and we remain at Buy on the stock.