Analysts coverage and consensus

Analyst coverage
Below are listed the sell-side analysts that cover Givaudan on a regular basis.

Submission date Institution

Name / contact

Recommendation

21-04-2021 Baader Helvea Andreas Von Arx add
21-04-2021 Bank of America Matthew Yates buy
- Barclays Sebastian Satz -
21-04-2021 Berenberg Bank James Targett buy
23-04-2021 Bernstein Gunther Zechmann

underperform

- Bryan Garnier Loic Morvan -
20-04-2021 Citi Investment Research Thomas P. Wrigglesworth neutral
19-04-2021 Credit Suisse Charles Bentley underperform
21-04-2021 Davy Research Cathal Kenny buy
23-04-2021 Deutsche Bank Virginie Boucher-Ferté hold
19-04-2021 EXANE BNP Paribas Heidi Vesterinen neutral
20-04-2021 Goldman Sachs International Georgina Iwamoto sell
19-04-2021 Jefferies Ryan Tomkins underperform
20-04-2021 JP Morgan Celine Pannuti neutral
20-04-2021 Kepler Cheuvreux Patrick Roquas buy
21-04-2021 Liberum Adam Collins

hold

21-04-2021 Mirabaud Daniel Jelovcan hold
- Morgan Stanley Lisa De Neve -
21-04-2021 Morningstar

Rob Hales

sell
19-04-2021 Redburn Ranulf Orr buy
21-04-2021 Société Générale Thomas Swoboda sell
19-04-2021 Stifel Europe Bank AG Isha Sharma hold
19-04-2021 UBS Charles Eden buy
19-04-2021 Vontobel Jean-Philippe Bertschy buy
- Zürcher Kantonalbank Daniel Buerki -

 

Consensus forecasts
The consensus forecasts, compiled by Givaudan, are based on emails and reports received between 19 and 23 April 2021.

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.
  
in millions of Swiss francs FY 2020 A FY 2021 E FY 2022 E   HY 2020 HY 2021
Group sales 6,322       3,221  
High   6,746 7,110     3,422
Average   6,615 6,947     3,366
Low   6,423 6,730     3,249
LFL Group sales growth (%) 4.0%       4.0%  
High   7.6 6.1     8.5
Average   5.8 4.8     6.9
Low   3.3 3.5     3.5
Fragrance & Beauty ( F&B) sales 2,924       1,456  
High   3,174 3,327     1,593
Average   3,080 3,236     1,552
Low   2,974 3,092     1,473
LFL F&B sales growth (%) 5.4%       4.5%  
High   9.3 6.6     11.3
Average   6.6 4.7     8.7
Low   3.7 3.5     4.0
Taste & Wellbeing (T&W) sales 3,398       1,765  
High   3,585 3,790     1,835
Average   3,529 3,708     1,812
Low   3,431 3,608     1,776
LFL T&W sales growth (%) 2.8%       3.6%  
High   6.5 6.0     6.5
Average   5.1 4.7     5.4
Low   2.5 3.4     2.6
 
EBITDA reported 1,397       734  
High   1,547 1,700     820
Average   1,489 1,590     782
Low   1,431 1,420     732
 
Net Income reported  743       413  
High   920 1,054     483
Average   842 959     456
Low   751 842     419
 
Free Cash Flow reported 811       178  
High   1,014 1,054     474
Average   883 959     311
Low   668 842     246
Free Cash Flow as a % of sales 12.8%       5.5%  
High   15.1 15.1     13.9
Average   13.4 13.4     9.6
Low   10.2 10.5     7.4
 
Price Target     
High 4,800  
Average 3,700  
Low 2,500  
Recommendation    
Buy 8  
Hold 7  
Sell 6  
 
Number of estimates 21  
 
Latest update 23 Apr