analyst consensus

 

€ mln Q1 16A Q2 16A Q3 16E Q4 16E 2016E 2017E 2018E
Revenue 4,702 5,108 5,313 5,260 20,387 21,232 21,809
Reported growth YoY 6.1% 6.1% 6.7% 5.1% 6.0% 4.0% 2.7%
Growth per working day YoY 5.0% 3.1% 3.0% 2.2% 3.0% 0.6% 2.9%
Gross profit 865 963 997 990 3,816 3,955 4,061
Gross margin 18.4% 18.9% 18.8% 18.8% 18.7% 18.6% 18.6%
Operating expenses (before amortization/one-offs) 697 724 737 746 2,903 3,021 3,078
EBITA (before one-offs) 169 240 259 243 912 925 968
EBITA margin 3.6% 4.7% 4.9% 4.6% 4.5% 4.4% 4.4%
Net income (before amortization/one-offs) 123 171 183 172 648 674 705
EPS (before amortization/ one-offs) 0.67 0.93 0.99 0.93 3.53 3.46 3.60
Net debt 296 634 511 309 340 208 (163)

 

Updated on October 17, 2016     

 

consensus based on averages
• Q3 2016: 18 analysts participated
Q4 2016: 14 analysts participated

FY 2016: 14 analysts participated

FY 2017: 14 analysts participated
FY 2018: 13 analysts participated
range Q3 2016 EBITA estimate: highest 268, lowest 235                          

 

                  

      

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