× You have changed the size of your browser. Reload the page for best representation and functionality.
Reload
× For horizontal scrolling please use the arrows.
OK
Print table
Last update on 30/11/2016 / From 2017 onwards this consensus includes the transaction between Sanofi and Boehringer Ingelheim.
- 2015 SALES TAKE INTO ACCOUNT THE REALLOCATION OF VAXSERVE SALES INTO OTHER REVENUE

Business P&L (in EURm except otherwise stated)FY 2015FY 2016EFY 2017EFY 2018EFY 2019EFY 2020E
Net sales
- Number of Estimates   18 17 16 14 14 
- Highest   36,778 36,493 38,070 40,302 43,127 
- Consensus 36,575 36,330 35,709 36,855 38,470 40,580 
- Lowest   36,040 34,974 35,266 36,597 37,842 
Other revenues
- Number of Estimates   14 14 14 14 14 
- Highest   899 865 865 865 865 
- Consensus 842 762 717 709 712 716 
- Lowest   640 567 484 503 472 
Cost of sales
- Number of Estimates   13 14 14 14 14 
- Highest   -11,371 -11,199 -11,294 -11,481 -11,671 
- Consensus -11,804 -11,564 -11,548 -11,789 -12,210 -12,772 
- Lowest   -11,771 -11,920 -12,261 -12,818 -13,359 
Gross Profit
- Number of Estimates   13 14 14 14 14 
- Highest   25,673 25,546 26,480 28,078 30,568 
- Consensus 25,613 25,514 24,808 25,712 26,971 28,524 
- Lowest   25,221 24,200 24,445 25,526 26,860 
Gross margin as % of net sales
- Number of Estimates   13 14 14 14 14 
- Highest   70.6 70.5 70.7 71.4 71.3 
- Consensus 70.0 70.3 69.6 69.9 70.1 70.3 
- Lowest   69.8 68.7 68.9 68.8 68.9 
R&D expenses
- Number of Estimates   13 14 14 14 14 
- Highest   -5,225 -5,122 -5,288 -5,306 -5,412 
- Consensus -5,259 -5,342 -5,449 -5,598 -5,717 -5,879 
- Lowest   -5,537 -5,606 -5,866 -6,055 -6,243 
SG&A expenses
- Number of Estimates   13 14 14 14 14 
- Highest   -10,138 -9,435 -9,548 -9,515 -9,249 
- Consensus -10,247 -10,282 -9,978 -10,281 -10,502 -10,716 
- Lowest   -10,533 -10,565 -10,798 -11,069 -11,508 
Other current operating income/expense
- Number of Estimates   13 13 13 13 13 
- Highest   166 239 76 76 76 
- Consensus -203 -27 -8 -138 -380 -721 
- Lowest   -140 -167 -438 -871 -1,348 
Share of profit/loss of associates
- Number of Estimates   13 14 14 14 14 
- Highest   249 399 599 660 821 
- Consensus 170 177 269 376 454 522 
- Lowest   120 165 198 259 293 
Net income attributable to non-controlling interests
- Number of Estimates   13 14 14 13 13 
- Highest   -103 -86 -69 -9 -10 
- Consensus -126 -114 -107 -118 -83 -80 
- Lowest   -126 -130 -285 -135 -138 
Business operating income
- Number of Estimates   17 16 16 14 14 
- Highest   10,182 9,789 10,415 11,309 12,425 
- Consensus 9,948 9,912 9,501 10,024 10,784 11,669 
- Lowest   9,740 9,200 9,626 10,131 10,968 
Operating margin as % of net sales
- Number of Estimates   16 16 16 14 14 
- Highest   28.0 27.6 28.8 30.4 32.0 
- Consensus 27.2 27.3 26.6 27.2 28.1 28.8 
- Lowest   26.6 25.9 25.9 26.4 26.9 
Financial income & expense
- Number of Estimates   14 14 14 14 14 
- Highest   -333 -245 -219 -170 -80 
- Consensus -390 -377 -370 -352 -332 -304 
- Lowest   -430 -522 -509 -497 -494 
Tax rate in %
- Number of Estimates   13 14 14 14 14 
- Highest   -23.7 -22.3 -23.8 -23.8 -23.1 
- Consensus -23.0 -24.1 -24.3 -24.6 -24.6 -24.6 
- Lowest   -24.5 -25.0 -26.0 -26.0 -26.0 
Business net income
- Number of Estimates   17 16 16 14 14 
- Highest   7,431 7,099 7,686 8,389 9,409 
- Consensus 7,371 7,263 6,936 7,366 7,971 8,667 
- Lowest   7,125 6,712 7,036 7,395 8,005 
Net profit margin as % of net sales
- Number of Estimates   16 16 16 14 14 
- Highest   20.5 20.1 21.3 22.9 24.2 
- Consensus 20.2 20.0 19.4 20.0 20.7 21.4 
- Lowest   19.5 19.0 19.1 19.3 19.9 
Number of shares
- Number of Estimates   16 14 14 12 12 
- Highest   1,299 1,294 1,294 1,294 1,294 
- Consensus 1,306 1,283 1,254 1,237 1,227 1,216 
- Lowest   1,246 1,211 1,193 1,175 1,157 
Business EPS (in EUR)
- Number of Estimates   19 17 16 15 15 
- Highest   5.79 5.73 6.16 6.86 7.68 
- Consensus 5.64 5.64 5.54 5.96 6.53 7.17 
- Lowest   5.49 5.39 5.60 5.85 6.31 
Dividend per Share (in EUR)
- Number of Estimates   16 16 15 13 12 
- Highest   3.12 3.24 3.50 4.02 4.18 
- Consensus 2.93 3.00 3.05 3.22 3.46 3.76 
- Lowest   2.93 2.52 3.04 3.08 3.43 
More estimates on Vara Online Services
Last update on 30/11/2016 / From 2017 onwards this consensus includes the transaction between Sanofi and Boehringer Ingelheim.
- 2015 SALES TAKE INTO ACCOUNT THE REALLOCATION OF VAXSERVE SALES INTO OTHER REVENUE

The above consensus estimates are reset after each quarterly report. Hence, the estimates do not contain any estimates older than three months.
Disclaimer
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.