Vodafone Group ADR


SKU: VOD Category:


This is our first report on a telecommunication giant, Vodafone Group ADR. The company produced a resilient financial performance in 2022. Despite a downturn in Europe, partially offset by a stronger performance in Turkey and Africa, Vodafone’s service revenue remained constant at 2.5%. They are making strong progress on their operational and portfolio priorities, such as forming a joint venture in Germany for their fiber-to-the-home construction and making big IT and network enhancements there. They also completed the Towers transaction, which satisfied their three strategic goals at a competitive price of 26x EBITDA. Besides that, Vodacom has strong growth rates and is investing in the financial services sector, which is expanding by over 20% annually. We initiate coverage on the stock of Vodafone Group with a ‘Buy’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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