Analysts and consensus

Analysts

COMPANY	NAME	TEL
Canaccord Genuity	Gert Zonneveld	020 7523 8377
Citi	Sathish Sivakumar	020 7986 1926
Exane BNP Paribas	James Hollins	020 3430 8438
HSBC	Joe Thomas	020 7992 3618
Investec Securities	Tom Callan	020 7597 6712
Jefferies	Rebecca Lane	020 7548 4186
Liberum Capital	Gerald Khoo	020 3100 2195
Peel Hunt	Alex Paterson	020 7418 8885
Royal Bank of Canada Capital Markets	Damian Brewer	020 7653 4900

Analyst consensus

Analyst ratings

Buy

Hold

Sell

Consensus estimates

		Consensus average	Min	Max
Revenue(£m)
	2020	3,793.6	3,622.1	3,940.4
	2021	3,155.0	3,070.7	3,283.6
	2022	2,032.4	1,628.3	3,168.5
Operating profit (£m)
	2020	110.3	107.8	113.9
	2021	117.5	108.6	137.1
	2022	111.2	100.9	134.1
Bus operating profit (£m)
	2020	95.4	94.8	96.2
	2021	96.9	96.5	97.6
	2022	97.7	95.2	99.5
Rail operating profit (£m)
	2020	14.6	13.0	17.7
	2021	20.6	11.0	40.2
	2022	13.4	2.4	36.7
PBT (£m)
	2020	102.0	99.7	104.4
	2021	109.2	101.3	127.6
	2022	103.1	92.1	124.8
EPS (p)
	2020	165.6	159.9	170.7
	2021	178.5	163.8	200.8
	2022	178.3	168.2	198.3
DPS (p)
	2020	102.5	102.1	103.9
	2021	103.0	102.1	106.4
	2022	103.5	102.1	109.3
Net debt (exc. restricted cash £m)
	2020	276.7	269.6	284.6
	2021	275.4	252.9	333.8
	2022	259.9	198.8	368.5

The above estimates have been provided to The Go-Ahead Group by a number of registered investment analysts.

These estimates are forward looking and are therefore subject to risks and uncertainties that may materially affect eventual results. These estimates are not endorsed by The Go-Ahead Group and the Group assumes no obligation to update or revise them to reflect circumstances arising after the date below.

The above figures are on a pre-exceptional and pre-IFRS16 basis.

Analyst forecasts not updated since our trading update on 28 November 2019 have been excluded from these figures.

Last updated: 18 November 2019