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Consensus Figures

A number of international financial analysts cover DSM. The most recent consensus figures – provided by Vara Research – are detailed below. The figures are based on the estimates given by the analysts that were approached by Vara Research.  

Analysts’ consensus Q2 2019 and FY 2019 as at 5 July 2019

  Q2 2018 FY 2018 Q2 2019 E* FY 2019 E*
Sales (continuing)        
Number of Estimates     15 15
Highest     2,371 9,518
Consensus 2,359 9,267 2,307 9,297
Median     2,309 9,303
Lowest     2,275 9,159
adj. EBITDA (continuing)        
Number of Estimates     15 15
Highest     446 1,767
Consensus 508 1,822 429 1,704
Median     432 1,704
Lowest     393 1,666
of which estimated adj. EBITDA from"Temporary Vitamin Effect"        
Number of Estimates     0 0
Highest     0 0
Consensus 110 290 0 0
Median     0 0
Lowest     0 0
Underlying business,  adj. EBITDA        
Number of Estimates     15 15
Highest     446 1,767
Consensus 398 1,532 429 1,704
Median     432 1,704
Lowest     393 1,666
adj. EBIT (continuing)        
Number of Estimates     13 14
Highest     310 1,202
Consensus 394 1,345 291 1,142
Median     291 1,137
Lowest     273 1,096
Nutrition, Sales        
Number of Estimates     15 15
Highest     1,578 6,362
Consensus 1,555 6,137 1,506 6,134
Median     1,501 6,125
Lowest     1,471 6,024
Nutrition, adj. EBITDA        
Number of Estimates     15 15
Highest     337 1,332
Consensus 397 1,407 319 1,271
Median     319 1,262
Lowest     290 1,243
of which adj. EBITDA from"Temporary Vitamin Effect"        
Number of Estimates     0 0
Highest     0 0
Consensus 110 290 0 0
Median     0 0
Lowest     0 0
Nutrition underlying,  adj. EBITDA        
Number of Estimates     15 15
Highest     337 1,332
Consensus 287 1,117 319 1,271
Median     319 1,262
Lowest     290 1,243
Nutrition, adj. EBIT        
Number of Estimates     13 13
Highest     254 992
Consensus 328 1,111 235 922
Median     231 913
Lowest     218 885
Materials, Sales        
Number of Estimates     15 15
Highest     783 2,983
Consensus 754 2,913 744 2,924
Median     743 2,922
Lowest     724 2,841
Materials, adj. EBITDA        
Number of Estimates     15 15
Highest     136 549
Consensus 135 512 131 516
Median     131 517
Lowest     123 496
Materials, adj. EBIT        
Number of Estimates     13 13
Highest     102 413
Consensus 104 383 96 380
Median     98 383
Lowest     87 329
Innovation Center, Sales        
Number of Estimates     15 15
Highest     49 214
Consensus 39 172 45 191
Median     45 188
Lowest     39 179
Innovation Center, adj. EBITDA        
Number of Estimates     15 15
Highest     6 24
Consensus 1 8 4 19
Median     5 21
Lowest     1 9
Innovation Center, adj. EBIT        
Number of Estimates     13 13
Highest     0 -1
Consensus -6 -14 -2 -8
Median     -2 -7
Lowest     -6 -23
Corporate Activities, Sales        
Number of Estimates     15 15
Highest     20 71
Consensus 11 45 12 49
Median     11 45
Lowest     10 45
Corporate Activities, adj. EBITDA        
Number of Estimates     15 15
Highest     -23 -95
Consensus -25 -105 -26 -102
Median     -25 -100
Lowest     -27 -110
Corporate Activities, adj. EBIT        
Number of Estimates     13 13
Highest     -33 -135
Consensus -32 -135 -38 -152
Median     -37 -152
Lowest     -43 -171
Profit for the period, before exceptional items - Cont. Ops.        
Number of Estimates     15 15
Highest     241 913
Consensus 306 1,034 214 844
Median     217 839
Lowest     192 795
Net EPS before exceptional items - Cont. Ops.        
Number of Estimates     15 15
Highest     1.37 5.34
Consensus 1.73 5.84 1.22 4.88
Median     1.23 4.87
Lowest     1.08 4.52

* Analysts were asked by Vara Research to include the estimated IFRS16 effect in the DSM consensus poll for 2019 Q2 and FY 2019.
 

Disclaimer
Consensus earnings estimates are based on earnings projections made by securities analysts who cover DSM. Any opinions, forecasts, estimates, projections or predictions regarding DSM’s performance made by the analysts (and, therefore, the Consensus estimate numbers) are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of DSM or its management. DSM does not by providing these estimates imply its endorsement of or concurrence with such information, conclusions or recommendations. DSM assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.