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Analysts coverage and consensus

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

Institution

Name

Recommendation

Baader Helvea Andreas Von Arx add
Bank of America Matthew Yates buy
Barclays Sebastian Satz underweight
Berenberg Bank James Targett buy
Bernstein Gunther Zechmann

underweight

Bryan Garnier Loic Morvan buy
Crédit Industriel et Commercial Virginie Royere Roumage neutral
Citi Investment Research Mubasher Chaudhry neutral
Credit Suisse Samuel Perry underperform
Davy Research Cathal Kenny outperform
Deutsche Bank Virginie Boucher-Ferté hold
EXANE BNP Paribas Heidi Vesterinen neutral
Goldman Sachs International Georgina Iwamoto neutral
Jefferies Charles Bentley underperform
JP Morgan Celine Pannuti neutral
Kepler Cheuvreux Patrick Roquas hold
Liberum Adam Collins

hold

Mirabaud Daniel Jelovcan hold
Morgan Stanley Lisa De Neve equal weight
Morningstar

Rob Hales

sell
Redburn Tony Jones buy
Société Générale Thomas Swoboda sell
Stifel Europe Bank AG Isha Sharma hold
UBS Charles Eden buy
Vontobel Jean-Philippe Bertschy buy
Zürcher Kantonalbank Daniel Buerki outperform
Recommendation  
Buy 7
Hold 9
Sell 5
Latest update 29 October

 

Consensus forecasts
The consensus forecasts, compiled by Givaudan, are based on emails and reports received between 18 and 29 October 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   discrete
Q4 2021
Group sales 6,322        
High   6,727 7,224   1,694
Average   6,682 7,082   1,626
Low   6,580 6,944   1,513
LFL Group sales growth (%) 4.0%        
High   7.7 6.4   7.4
Average   7.1 4.8   5.4
Low   6.2 3.0  

3.4

Fragrance & Beauty ( F&B) sales 2,924        
High   3,126 3,387   775
Average   3,099 3,259   746
Low   2,990 3,170   639
LFL F&B sales growth (%) 5.4%        
High   8.1 6.0   7.2
Average   7.1 5.0   3.1
Low   5.9 4.0   -1.5
Taste & Wellbeing (T&W) sales 3,398        
High   3,606 3,947   889
Average   3,584 3,820   875
Low   3,534 3,693   852
LFL T&W sales growth (%) 2.8%        
High   7.8 7.6   9.7
Average   7.1 4.8   7.4
Low   5.5 3.0   4.6
 
EBITDA reported 1,397        
High   1,603 1,708    
Average   1,528 1,599    
Low   1,456 1,446    
 
Net Income reported  743        
High   967 1,064    
Average   874 960    
Low   769 855    
 
Free Cash Flow reported 811        
High   1,048 1,106    
Average   890 920    
Low   653 765    
Free Cash Flow as a % of sales 12.8%        
High   15.6 15.6    
Average   13.2 12.9    
Low   9.7 10.7    
 
Price Target     
High 5,000  
Average 4,164  
Low 2,700  
Recommendation    
Buy 7  
Hold 9  
Sell 5  
 
Number of estimates 21  
 
Latest update 29-10-21