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Last update on 06/06/2017
Business P&L (in EURm except otherwise stated)Q2 2016FY 2016Q2 2017EFY 2017EFY 2018EFY 2019EFY 2020E
Net sales
- Number of Estimates   15 15 13 11 
- Highest     36,862 38,239 40,740 43,898 
- Consensus 8,143 33,821 36,356 37,379 39,118 41,263 
- Lowest     35,967 35,245 36,309 38,412 
Other revenues
- Number of Estimates   11 11 11 11 
- Highest     1,003 975 1,020 1,075 
- Consensus 165 887 855 846 859 872 
- Lowest     618 525 551 580 
Cost of sales
- Number of Estimates   11 11 11 11 
- Highest     -11,222 -10,574 -10,711 -11,332 
- Consensus -2,523 -10,702 -11,650 -11,846 -12,321 -12,889 
- Lowest     -11,859 -12,254 -13,126 -14,077 
Gross Profit
- Number of Estimates   11 11 11 11 
- Highest     25,844 26,920 28,438 30,959 
- Consensus 5,785 24,006 25,568 26,369 27,675 29,246 
- Lowest     25,159 25,558 26,485 27,967 
Gross margin as % of net sales
- Number of Estimates   11 11 11 11 
- Highest     71.3 72.5 72.9 72.8 
- Consensus 71.0 71.0 70.3 70.6 70.7 70.9 
- Lowest     69.5 69.7 69.7 69.7 
R&D expenses
- Number of Estimates   11 11 11 11 
- Highest     -5,410 -5,404 -5,514 -5,780 
- Consensus -1,279 -5,172 -5,521 -5,644 -5,822 -6,038 
- Lowest     -5,618 -5,700 -6,085 -6,561 
SG&A expenses
- Number of Estimates   11 11 11 11 
- Highest     -9,976 -10,147 -9,909 -9,512 
- Consensus -2,397 -9,486 -10,258 -10,443 -10,707 -10,981 
- Lowest     -10,576 -10,807 -11,212 -11,894 
Other current operating income/expense
- Number of Estimates   11 11 11 11 
- Highest     350 234 49 -127 
- Consensus -23 -127 -32 -180 -427 -805 
- Lowest     -587 -697 -918 -1,556 
Share of profit/loss of associates
- Number of Estimates   11 11 11 11 
- Highest     403 617 642 742 
- Consensus 30 177 226 330 411 468 
- Lowest     120 120 120 120 
Net income attributable to non-controlling interests
- Number of Estimates   11 11 11 11 
- Highest     -91 -73 -53 -47 
- Consensus -23 -113 -120 -163 -214 -282 
- Lowest     -190 -724 -1,357 -2,126 
Business operating income
- Number of Estimates   14 14 14 11 
- Highest     10,323 10,765 11,540 12,933 
- Consensus 2,093 9,285 9,894 10,278 10,950 11,608 
- Lowest     9,655 9,902 10,303 10,577 
Operating margin as % of net sales
- Number of Estimates   13 13 13 11 
- Highest     28.1 29.3 31.2 32.3 
- Consensus 25.7 27.5 27.2 27.5 27.9 28.2 
- Lowest     26.4 26.5 25.3 24.1 
Financial income & expense
- Number of Estimates   12 12 12 11 
- Highest     -199 -169 -139 621 
- Consensus -74 -399 -339 -344 -319 -219 
- Lowest     -505 -595 -679 -699 
Tax rate in %
- Number of Estimates   11 11 11 11 
- Highest     -23.3 -23.4 -22.5 -19.4 
- Consensus -23.2 -23.3 -24.5 -24.5 -24.3 -23.8 
- Lowest     -27.3 -25.8 -25.7 -25.6 
Business net income
- Number of Estimates   13 13 12 11 
- Highest     7,481 7,775 8,548 9,659 
- Consensus 1,680 7,308 7,214 7,542 8,085 8,723 
- Lowest     6,921 7,276 7,685 7,964 
Net profit margin as % of net sales
- Number of Estimates   13 13 12 11 
- Highest     20.4 21.8 23.5 24.5 
- Consensus 20.6 21.6 19.8 20.2 20.7 21.2 
- Lowest     19.2 19.2 18.9 18.6 
Number of shares
- Number of Estimates   10 10 10 10 
- Highest     1,282 1,282 1,282 1,282 
- Consensus 1,287 1,287 1,256 1,240 1,230 1,218 
- Lowest     1,230 1,211 1,193 1,175 
Business EPS (in EUR)
- Number of Estimates   16 16 14 11 
- Highest     6.00 6.26 6.98 8.04 
- Consensus 1.31 5.68 5.75 6.08 6.60 7.13 
- Lowest     5.51 5.83 6.16 6.50 
Dividend per Share (in EUR)
- Number of Estimates   11 11 10 
- Highest     3.37 3.49 3.74 3.94 
- Consensus 2.96 3.07 3.19 3.43 3.72 
- Lowest     2.96 3.00 3.20 3.46 
More estimates on Vara Online Services
Last update on 06/06/2017
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.