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 Ranulf Orr 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 8
Sell 3
Latest update 18 August

 

Consensus forecasts
The consensus forecasts, compiled by Givaudan, are based on emails and reports received between 27 July and 18 August 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
Q3 2021
YTD
Q3 2021
Group sales 6,322          
High   6,749 7,171   1,709 5,155
Average   6,650 6,976   1,625 5,037
Low   6,560 6,794   1,097 4,885
LFL Group sales growth (%) 4.0%          
High   8.0 5.9   8.0 8.0
Average   6.7 4.9   6.2 7.3
Low   5.8 3.5   3.5 4.2
Fragrance & Beauty ( F&B) sales 2,924          
High   3,169 3,349   815 2,404
Average   3,111 3,267   793 2,357
Low   3,025 3,142   765 2,329
LFL F&B sales growth (%) 5.4%          
High   9.1 6.9   9.5 9.9
Average   7.7 5.0   6.5 8.3
Low   6.8 3.5   3.0 3.0
Taste & Wellbeing (T&W) sales 3,398          
High   3,580 3,822   895 2,752
Average   3,539 3,709   874 2,687
Low   3,485 3,644   843 2,651
LFL T&W sales growth (%) 2.8%          
High   7.0 6.2   8.0 6.8
Average   5.9 4.7   5.9 5.9
Low   4.8 3.0   3.9 4.5
 
EBITDA reported 1,397          
High   1,548 1,709      
Average   1,519 1,608      
Low   1,494 1,445      
 
Net Income reported  743          
High   931 1,109      
Average   873 971      
Low   831 848      
 
Free Cash Flow reported 811          
High   1,095 1,071      
Average   914 963      
Low   789 834      
Free Cash Flow as a % of sales 12.8%          
High   16.4 15.5      
Average   13.7 13.8      
Low   12.0 12.1      
 
Price Target     
High 5,000  
Average 4,241  
Low 3,200  
Recommendation    
Buy 7  
Hold 8  
Sell 3  
 
Number of estimates 18  
 
Latest update 18 August