× You have changed the size of your browser. Reload the page for best representation and functionality.
Reload
× For horizontal scrolling please use the arrows.
OK
Print table
The recently announced acquisition of Bioverativ and on-going offer to acquire Ablynx are included in the current consensus estimates.
Consumer Healthcare is now a distinct operating segment and not included in Pharmaceuticals any longer.

Last update on 17/07/2018
Business P&L (in EURm except otherwise stated)Q2 2017FY 2017Q2 2018EFY 2018EFY 2019EFY 2020EFY 2021E
Net sales
- Number of Estimates   15 15 14 14 
- Highest     35,959 38,305 40,472 42,296 
- Consensus 8,671 35,072 34,668 35,937 37,730 39,423 
- Lowest     34,013 34,764 36,071 36,620 
Other revenues
- Number of Estimates   13 13 13 13 
- Highest     1,256 1,435 1,515 1,530 
- Consensus 270 1,149 1,168 1,220 1,254 1,282 
- Lowest     1,023 1,048 1,072 1,097 
Cost of sales
- Number of Estimates   13 13 13 13 
- Highest     -11,142 -10,993 -11,364 -11,674 
- Consensus -2,798 -11,447 -11,371 -11,650 -12,101 -12,495 
- Lowest     -11,831 -12,522 -13,156 -13,561 
Gross Profit
- Number of Estimates   13 13 13 13 
- Highest     25,328 27,038 28,628 30,105 
- Consensus 6,413 24,774 24,462 25,537 26,883 28,189 
- Lowest     23,877 24,521 25,537 26,005 
Gross margin as % of net sales
- Number of Estimates   13 13 13 13 
- Highest     71.1 72.1 72.4 72.9 
- Consensus 70.8 70.6 70.6 71.0 71.3 71.5 
- Lowest     70.1 70.2 70.3 70.2 
R&D expenses
- Number of Estimates   14 14 14 14 
- Highest     -5,423 -5,557 -5,601 -5,630 
- Consensus -1,358 -5,472 -5,608 -5,797 -5,944 -6,082 
- Lowest     -5,860 -6,082 -6,219 -6,355 
SG&A expenses
- Number of Estimates   14 14 14 14 
- Highest     -9,741 -9,680 -9,798 -9,872 
- Consensus -2,572 -10,072 -9,975 -10,131 -10,364 -10,569 
- Lowest     -10,418 -10,939 -11,395 -11,730 
Other current operating income/expense
- Number of Estimates   12 12 12 12 
- Highest     20 40 100 100 
- Consensus 68 -107 -370 -699 -1,033 
- Lowest     -342 -666 -1,136 -1,675 
Share of profit/loss of associates
- Number of Estimates   13 13 13 13 
- Highest     462 544 649 747 
- Consensus 46 214 301 350 404 461 
- Lowest     219 276 264 238 
Net income attributable to non-controlling interests
- Number of Estimates   12 12 12 12 
- Highest     -81 -4 -4 -4 
- Consensus -30 -125 -114 -62 -54 -50 
- Lowest     -127 -120 -110 -105 
Business operating income
- Number of Estimates   14 14 14 14 
- Highest     9,292 10,009 11,014 11,943 
- Consensus 2,297 9,323 8,959 9,521 10,234 10,943 
- Lowest     8,605 9,015 9,463 9,581 
Operating margin as % of net sales
- Number of Estimates   14 14 14 14 
- Highest     26.5 27.6 28.6 29.2 
- Consensus 26.5 26.6 25.8 26.5 27.1 27.8 
- Lowest     25.3 25.9 26.2 26.2 
Financial income & expense
- Number of Estimates   14 14 14 14 
- Highest     -257 -190 -140 -90 
- Consensus -60 -273 -340 -365 -340 -308 
- Lowest     -468 -510 -486 -468 
Tax rate in %
- Number of Estimates   12 12 12 12 
- Highest     -22.0 -22.0 -22.0 -22.0 
- Consensus -24.5 -23.5 -22.1 -22.1 -22.1 -22.1 
- Lowest     -22.5 -22.7 -22.7 -22.8 
Business net income
- Number of Estimates   15 15 14 14 
- Highest     6,958 7,517 8,302 9,048 
- Consensus 1,692 6,943 6,753 7,189 7,776 8,365 
- Lowest     6,502 6,735 7,184 7,332 
Net profit margin as % of net sales
- Number of Estimates   15 15 14 14 
- Highest     20.0 20.9 21.6 22.3 
- Consensus 19.6 19.8 19.5 20.0 20.6 21.2 
- Lowest     19.1 19.4 19.7 20.0 
Number of shares
- Number of Estimates   14 14 13 13 
- Highest     1,270 1,256 1,249 1,249 
- Consensus 1,258 1,257 1,246 1,235 1,227 1,219 
- Lowest     1,234 1,208 1,205 1,191 
Business EPS (in EUR)
- Number of Estimates   16 16 14 14 
- Highest     5.59 6.12 6.65 7.24 
- Consensus 1.34 5.52 5.42 5.81 6.34 6.87 
- Lowest     5.24 5.49 5.90 6.09 
Dividend per Share (in EUR)
- Number of Estimates   12 12 10 10 
- Highest     3.12 3.27 3.47 3.82 
- Consensus 3.03 3.01 3.10 3.31 3.47 
- Lowest     2.80 2.87 3.05 3.22 
More estimates on Vara Online Services
Last update on 17/07/2018
The above consensus estimates are reset after each quarterly report. Hence, the estimates do not contain any estimates older than three months.
Disclaimer
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.