CONSENSUS
The Consensus Forecasts 2012 and 2013, compiled by Givaudan, are based on emails and reports, received between 16 February and 30 March 2012.
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 2012
| CHF million | High | Average | Low |
| Sales | 4264 | 4126 | 3968 |
| EBITDA comparable | 907 | 865 | 802 |
| Net Income reported | 499 | 392 | 349 |
Consensus Forecasts Full Year Results 2013
| CHF million | High | Average | Low |
| Sales | 4434 | 4320 | 4156 |
| EBITDA comparable | 998 | 944 | 881 |
| Net Income reported | 550 | 460 | 377 |
Recommendations
| Number of analysts | Buy | Hold | Sell |
| Recommendation | 6 | 12 | 7 |
List of Analysts who have contributed to this consensus:
Rolf Kunz, Bank am Bellevue
Andrew Stott, Bank of America - Merrill Lynch
Jean-Philippe Bertschy, Bank Vontobel
Gunther Zechmann, Barclays Capital
Jaideep Pandya, Berenberg Bank *
Christoph Wirtz, CA Cheuvreux Switzerland
Andrew Benson, Citigroup
Alicia Forry, Collins Stewart *
Patrick Jnglin, Credit Suisse
Virginie Boucher-Ferte, Deutsche Bank AG
Richard Logan, Goldman Sachs *
Heidi Vesterinen, Exane BNP Paribas
Andreas Von Arx, Helvea SA
Sebastian Satz, HSBC Bank
Simon Marshall-Lockyer, Jefferies
Ankur Gupta, JP Morgan
Arne Rautenberg, Kepler Capital Markets
Adam Collins, Liberum Capital
Jürgen Reck, Macquarie Securities Europe *
Bernd Pomrehn, MainFirst Schweiz AG
Erik Sjogren, Morgan Stanley
Jean De Wattevill, Nomura International *
Joe Dewhurst, UBS
Thomas Gilbert, UBS
Daniel Bürki, ZKB
* only recommendation
