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Last update on 30/06/2016 / This consensus includes the transaction between Sanofi and Boehringer Ingelheim.
Business P&L (in EURm except otherwise stated)FY 2015FY 2016EFY 2017EFY 2018EFY 2019EFY 2020E
Net sales
- Number of Estimates   19 
- Highest   37,647 38,869 40,105 42,591 44,672 
- Consensus 36,575 36,706 36,449 37,926 39,806 41,641 
- Lowest   35,754 35,073 36,475 37,414 38,646 
Other revenues
- Number of Estimates   
- Highest   827 820 874 918 944 
- Consensus 842 739 758 775 790 801 
- Lowest   613 687 701 698 677 
Cost of sales
- Number of Estimates   14 
- Highest   -11,533 -11,317 -11,573 -12,108 -12,682 
- Consensus -11,804 -11,830 -11,715 -12,100 -12,649 -13,143 
- Lowest   -12,256 -12,062 -12,512 -13,201 -13,800 
Gross Profit
- Number of Estimates   13 
- Highest   26,001 27,780 28,772 30,494 31,973 
- Consensus 25,613 25,455 25,362 26,448 28,055 29,485 
- Lowest   24,905 24,030 25,214 26,945 28,082 
Gross margin as % of net sales
- Number of Estimates   12 
- Highest   70.3 71.5 71.7 71.6 71.6 
- Consensus 70.0 69.3 69.4 69.6 69.9 70.1 
- Lowest   68.4 67.1 67.8 68.4 68.9 
R&D expenses
- Number of Estimates   14 
- Highest   -5,211 -5,296 -5,418 -5,629 -5,872 
- Consensus -5,259 -5,470 -5,556 -5,728 -5,933 -6,128 
- Lowest   -5,720 -5,855 -6,043 -6,291 -6,486 
SG&A expenses
- Number of Estimates   13 
- Highest   -10,042 -9,827 -10,204 -10,503 -10,747 
- Consensus -10,247 -10,332 -10,235 -10,552 -10,914 -11,194 
- Lowest   -10,548 -10,586 -11,010 -11,529 -12,139 
Other current operating income/expense
- Number of Estimates   11 
- Highest   249 37 37 37 37 
- Consensus -203 86 -57 -238 -488 -747 
- Lowest   -140 -233 -366 -879 -1,460 
Share of profit/loss of associates
- Number of Estimates   12 
- Highest   291 397 599 624 713 
- Consensus 170 217 322 395 396 426 
- Lowest   109 220 68 -376 -660 
Net income attributable to non-controlling interests
- Number of Estimates   13 
- Highest   -80 -81 -65 -8 -9 
- Consensus -126 -108 -95 -88 -66 -62 
- Lowest   -156 -111 -111 -111 -111 
Business operating income
- Number of Estimates   20 
- Highest   10,049 10,511 11,009 11,675 12,823 
- Consensus 9,948 9,785 9,556 10,031 10,673 11,356 
- Lowest   9,404 8,679 9,197 9,791 10,447 
Operating margin as % of net sales
- Number of Estimates   19 
- Highest   27.3 27.1 27.5 27.4 28.7 
- Consensus 27.2 26.7 26.2 26.4 26.8 27.3 
- Lowest   25.7 24.6 25.0 25.7 26.1 
Financial income & expense
- Number of Estimates   17 
- Highest   -238 -288 -170 -27 184 
- Consensus -390 -399 -381 -338 -302 -240 
- Lowest   -495 -522 -509 -497 -486 
Tax rate in %
- Number of Estimates   12 
- Highest   -22.4 -21.2 -21.1 -20.9 -20.8 
- Consensus -23.0 -24.1 -23.7 -23.6 -23.4 -23.4 
- Lowest   -25.0 -25.0 -24.6 -24.6 -25.0 
Business net income
- Number of Estimates   20 
- Highest   7,514 7,769 8,308 8,909 9,866 
- Consensus 7,371 7,150 6,983 7,384 7,942 8,510 
- Lowest   6,891 6,283 6,705 7,048 7,501 
Net profit margin as % of net sales
- Number of Estimates   18 
- Highest   20.6 20.3 20.7 21.0 22.1 
- Consensus 20.2 19.5 19.1 19.5 19.9 20.4 
- Lowest   18.8 17.8 18.2 18.8 19.3 
Number of shares
- Number of Estimates   16 
- Highest   1,305 1,294 1,294 1,294 1,294 
- Consensus 1,306 1,287 1,246 1,232 1,222 1,211 
- Lowest   1,273 1,216 1,205 1,187 1,169 
Business EPS (in EUR)
- Number of Estimates   22 
- Highest   5.70 6.07 6.49 6.96 7.71 
- Consensus 5.64 5.56 5.63 6.04 6.58 7.13 
- Lowest   5.41 5.06 5.47 6.10 6.60 
Dividend per Share (in EUR)
- Number of Estimates   17 16 14 12 11 
- Highest   3.05 3.20 3.60 3.90 4.30 
- Consensus 2.93 2.98 3.04 3.25 3.52 3.81 
- Lowest   2.93 2.78 2.96 3.14 3.23 
More estimates on Vara Online Services
Last update on 30/06/2016 / This consensus includes the transaction between Sanofi and Boehringer Ingelheim.
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.