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	Stephanie D'Ath	00852 6755 1659

Analyst consensus

Analyst ratings

Buy

Hold

Sell

Consensus estimates

		Consensus average	Min	Max
Revenue(£m)
	2020	3,585.5	2,777.6	3,810.3
	2021	3,127.7	2,932.4	3,255.1
	2022	1,922.2	1,540.7	3,168.5
Operating profit (£m)
	2020	108.8	106.7	112.4
	2021	112.8	106.0	134.0
	2022	109.3	100.2	132.6
Bus operating profit (£m)
	2020	94.3	93.7	94.7
	2021	96.9	95.4	98.9
	2022	98.5	93.7	103.9
Rail operating profit (£m)
	2020	14.5	12.6	17.7
	2021	15.9	7.1	38.6
	2022	10.8	1.8	36.7
PBT (£m)
	2020	102.4	98.8	110.9
	2021	105.0	99.2	124.6
	2022	101.9	89.9	123.3
EPS (p)
	2020	167.3	158.0	176.8
	2021	176.4	163.1	195.1
	2022	178.5	164.3	195.4
DPS (p)
	2020	102.2	102.1	102.7
	2021	102.7	102.1	106.0
	2022	104.0	102.1	109.2
Net debt (exc. restricted cash £m)
	2020	271.6	219.0	287.9
	2021	252.5	192.0	306.9
	2022	229.1	168.0	295.9

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: 29 January 2020