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
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)
	2019	3,400.3	3,305.8	3,489.9
	2020	3,030.3	2,643.3	3,490.7
	2021	2,851.1	2,711.1	2,930.6
Operating profit (£m)
	2019	118.2	117.5	118.7
	2020	107.1	104.3	110.2
	2021	111.8	99.5	117.4
Bus operating profit (£m)
	2019	94.8	94.5	95.1
	2020	94.5	93.8	95.5
	2021	96.5	93.7	98.7
Rail operating profit (£m)
	2019	23.4	22.6	24.1
	2020	12.6	10.1	14.9
	2021	15.3	3.3	23.7
PBT (£m)
	2019	109.8	108.7	111.1
	2020	99.0	95.0	101.8
	2021	104.0	91.4	109.0
EPS (p)
	2019	177.0	175.1	179.5
	2020	169.9	164.3	176.1
	2021	178.0	169.1	182.6
DPS (p)
	2019	104.4	102.1	115.7
	2020	103.7	102.1	111.8
	2021	105.3	102.1	118.7
Net debt (exc. restricted cash £m)
	2019	267.0	248.0	287.1
	2020	246.8	216.0	266.1
	2021	222.6	186.0	254.6

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.

Last updated: 30 July 2019