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Print table
The current consensus estimates do not take into account the recently announced acquisitions of Bioverativ and Ablynx.
Last update on 06/02/2018
Business P&L (in EURm except otherwise stated)Q4 2016FY 2016Q4 2017EFY 2017EFY 2018EFY 2019EFY 2020E
Net sales
- Number of Estimates     16 16 12 12 10 
- Highest     9,040 35,404 36,540 38,468 40,374 
- Consensus 8,867 33,821 8,694 35,059 34,667 36,070 37,680 
- Lowest     8,522 34,884 33,660 34,702 36,421 
Other revenues
- Number of Estimates     14 14 10 10 
- Highest     356 1,215 1,206 1,261 1,273 
- Consensus 310 887 249 1,108 1,100 1,108 1,113 
- Lowest     98 957 904 942 925 
Cost of sales
- Number of Estimates     14 14 
- Highest     -2,794 -11,141 -10,805 -10,990 -11,357 
- Consensus -2,956 -10,702 -3,000 -11,348 -11,269 -11,653 -12,037 
- Lowest     -3,348 -11,695 -11,952 -12,395 -12,650 
Gross Profit
- Number of Estimates     14 14 
- Highest     6,087 24,963 25,794 27,334 27,770 
- Consensus 6,221 24,006 5,932 24,810 24,578 25,543 26,504 
- Lowest     5,503 24,379 23,694 24,411 25,445 
Gross margin as % of net sales
- Number of Estimates     13 13 
- Highest     70.2 71.3 71.6 71.6 72.0 
- Consensus 70.2 71.0 68.5 70.8 70.7 70.7 70.8 
- Lowest     64.0 69.7 69.7 69.8 69.9 
R&D expenses
- Number of Estimates     13 13 
- Highest     -1,205 -5,213 -5,103 -5,342 -5,433 
- Consensus -1,437 -5,172 -1,413 -5,421 -5,369 -5,514 -5,676 
- Lowest     -1,480 -5,488 -5,537 -5,740 -5,950 
SG&A expenses
- Number of Estimates     13 13 
- Highest     -2,455 -9,815 -9,578 -9,512 -9,850 
- Consensus -2,603 -9,486 -2,575 -9,935 -9,698 -9,887 -10,187 
- Lowest     -2,733 -10,093 -10,005 -10,360 -11,025 
Other current operating income/expense
- Number of Estimates     13 13 
- Highest     62 180 -22 -40 -40 
- Consensus -78 -127 -60 58 -85 -312 -562 
- Lowest     -199 -81 -201 -573 -1,116 
Share of profit/loss of associates
- Number of Estimates     13 13 
- Highest     216 337 339 415 510 
- Consensus 53 177 82 203 257 342 407 
- Lowest     24 145 145 145 145 
Net income attributable to non-controlling interests
- Number of Estimates     13 13 
- Highest     -3 -98 -74 
- Consensus -32 -113 -24 -119 -102 -75 -66 
- Lowest     -36 -131 -131 -131 -131 
Business operating income
- Number of Estimates     15 15 10 10 10 
- Highest     2,104 9,756 10,340 11,259 12,041 
- Consensus 2,124 9,285 1,944 9,596 9,509 10,011 10,630 
- Lowest     1,792 9,444 9,075 9,312 9,740 
Operating margin as % of net sales
- Number of Estimates     15 15 10 10 10 
- Highest     24.6 28.0 28.3 29.3 29.8 
- Consensus 24.0 27.5 22.4 27.4 27.4 27.8 28.2 
- Lowest     20.9 27.0 26.5 26.6 26.7 
Financial income & expense
- Number of Estimates     14 14 
- Highest     -47 -247 -207 -147 -106 
- Consensus -125 -399 -88 -288 -307 -275 -264 
- Lowest     -210 -410 -467 -455 -444 
Tax rate in %
- Number of Estimates     13 13 
- Highest     -21.6 -23.9 -24.0 -24.3 -24.3 
- Consensus -24.0 -23.3 -24.0 -24.4 -24.5 -24.9 -25.0 
- Lowest     -26.9 -25.0 -25.0 -26.2 -26.1 
Business net income
- Number of Estimates     16 16 11 11 
- Highest     1,593 7,225 7,643 8,359 8,965 
- Consensus 1,606 7,308 1,422 7,053 6,982 7,419 7,869 
- Lowest     1,292 6,923 6,693 6,879 7,189 
Net profit margin as % of net sales
- Number of Estimates     16 16 11 11 
- Highest     18.1 20.5 20.9 21.7 22.2 
- Consensus 18.1 21.6 16.4 20.1 20.2 20.6 20.9 
- Lowest     15.1 19.8 19.6 19.6 19.7 
Number of shares
- Number of Estimates     15 11 11 
- Highest     1,253 1,266 1,274 1,277 1,281 
- Consensus 1,283 1,287 1,250 1,255 1,239 1,227 1,216 
- Lowest     1,243 1,249 1,208 1,194 1,177 
Business EPS (in EUR)
- Number of Estimates     16 16 11 11 
- Highest     1.23 5.71 5.91 6.41 6.79 
- Consensus 1.25 5.68 1.14 5.62 5.59 5.99 6.37 
- Lowest     1.03 5.51 5.31 5.39 5.61 
Dividend per Share (in EUR)
- Number of Estimates     12 10 10 
- Highest     3.10 3.29 3.58 3.81 
- Consensus 2.96 3.01 3.08 3.27 3.44 
- Lowest     2.91 2.91 3.14 3.20 
More estimates on Vara Online Services
Last update on 06/02/2018
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.