CONSENSUS

The Consensus Forecasts, compiled by Givaudan, are based on emails and reports, received between 16 and 24 June 2014.

Disclaimer

The consensus forecast set out below results from regular research reports made by analysts currently covering Givaudan, as detailed in the list below. This list has been drawn up to the best of Givaudan’s knowledge but does not purport to be comprehensive of all institutions publishing financial research on Givaudan.

Any opinions, forecasts, estimates, projections or predictions regarding Givaudan’s performance made by the analysts are exclusively theirs and do not represent the opinions, forecasts, estimates, projections or predictions of Givaudan or its management. The publication of this information on this website does not imply that Givaudan endorses, or concurs with, the reports, conclusions or recommendations of the cited analysts. Givaudan disclaims any liability for the accuracy or completeness of such information and does not assume any obligation to update it even if it becomes aware of any changes.

This information is provided for ease of reference only and does not constitute an offer or solicitation to buy, hold or sell Givaudan securities.

 

Consensus Forecasts Full Year Results 2014

 CHF
 million
Sales Growth like-for-like EBITDA Reported Net Income Free Cash Flow
 High 4510 6.2 1043 681 741
 Average 4417 5.0 1009 530 638
 Low 4345 4.0 976 488 542

 

Consensus Forecasts Full Year Results 2015

 CHF
 million
Sales Growth like-for-like EBITDA Reported Net Income Free Cash Flow
 High 4759 5.5 1120 719 741
 Average 4628 5.0 1070 600 659
 Low 4551 4.0 1001 534 502

 

Recommendations

 Number of analysts'
 recommendations
Buy Hold Sell
6 12 1

 

Analysts who have contributed to this consensus:

Rolf Kunz, Bank am Bellevue
Laurent Favre, Bank of America Merrill Lynch
Gunther Zechmann, Barclays
Evgenia Molotova, Berenberg
Mathew Waugh, Credit Suisse
Jack Gorman, Davy
Heidi Vesterinen, Exane BNP Paribas
Virginie Boucher, Givaudan
Rakesh Patel, Goldman Sachs
Andreas von Arx, Helvea
Sebastian Satz, HSBC
Celine Pannuti, JPM
Adam Collins, Liberum Capital
Bernd Pomrehn, MainFirst
Erik Sjogren, Morgan Stanley
Patrick Lambert, Nomura
Joe Dewhurst, UBS
Jean-Philippe Bertschy, Vontobel
Daniel Bürki, ZKB

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