Babcock International Group PLC

Public consensus   -   Last updated 24/09/20

Reporting currency: GBP
Reporting unit: Absolute
 
NO. OF
FORECASTS
FY22
CONSENSUS
24/09/20
FY22
MIN
FY22
MAX
Revenue
Marine
Group
9
1,328.1
1,221.9
1,425.9
JV
9
41.4
17.7
59.7
Marine total
11
1,359.3
1,246.3
1,478.7
Nuclear
Group
9
860.7
709.8
972.0
JV
7
70.8
-
200.0
Nuclear total
11
927.4
853.5
1,062.6
Land
Group
9
1,374.7
1,330.6
1,456.6
JV
9
15.9
-
54.7
Land total
11
1,394.5
1,349.4
1,475.3
Aviation
Group
9
802.4
742.9
857.8
JV
9
143.7
128.7
156.3
Aviation total
11
952.5
871.6
1,006.3
Unallocated Group Revenue
0
n/a
n/a
n/a
Group Revenue
10
4,401.4
4,217.2
4,720.1
Joint venture revenue
10
261.9
179.1
386.5
Total Revenue
12
4,667.0
4,503.1
5,034.9
Operating Profit
Marine
Group
9
139.6
130.7
147.3
JV
9
3.6
1.0
7.0
Marine total
11
143.5
133.3
154.3
Nuclear
Group
9
95.1
82.2
110.1
JV
7
4.2
-
13.4
Nuclear total
11
97.8
84.4
110.1
Land
Group
9
75.9
59.9
96.3
JV
9
6.6
1.4
25.1
Land total
11
82.7
62.7
100.5
Aviation
Group
9
51.8
32.1
63.3
JV
9
47.7
42.7
57.9
Aviation total
11
99.7
89.9
112.2
Unallocated
11
(1.4)
(3.0)
(0.3)
Group operating profit
11
364.6
343.0
402.2
Joint venture operating profit
11
61.1
52.3
89.9
Total operating profit
12
425.9
398.0
465.5
Operating Margin
Marine
Group
9
10.5
9.8
12.0
JV
9
9.4
2.0
16.3
Marine total
11
10.6
9.7
12.0
Nuclear
Group
9
11.1
9.7
12.9
JV
6
5.4
2.2
7.9
Nuclear total
11
10.6
9.5
12.9
Land
Group
9
5.5
4.5
7.1
JV
8
53.5
5.1
146.0
Land total
11
5.9
4.5
7.2
Aviation
Group
9
6.4
4.0
7.6
JV
9
33.2
30.0
37.0
Aviation total
11
10.5
9.4
11.5
Total operating margin
12
9.1
8.7
9.4
Interest
Group
10
(75.2)
(92.5)
(66.5)
JV
10
(21.4)
(22.8)
(17.0)
Total
10
(96.6)
(113.3)
(89.3)
New IAS 19 pension charge
10
-0.0
(0.3)
0.5
Underlying PBT
11
325.6
301.7
357.2
Amortisation
10
(84.0)
(96.5)
(63.5)
Exceptional items
9
-
-
-
Reported PBT
10
240.6
213.4
293.7
Tax Rate
9
16.2
0.2
19.0
Tax
11
(59.3)
(67.9)
(55.8)
Minorities
11
(2.2)
(4.2)
(1.2)
Ave shares
11
506.1
505.2
509.3
Diluted shares
11
507.0
506.2
510.2
EPS basic
12
52.9
47.9
61.0
DPS p
11
18.5
-
30.0
Cash Flow
Operating Profit (excl JV contribution)
9
359.5
343.0
375.7
Amortisation and depreciation (pre-IFRS 16)
8
104.2
93.0
120.4
Other non-cash items
8
1.4
(1.0)
4.3
Working capital
9
(12.7)
(40.7)
36.2
Operating cash flow pre capex
9
576.9
539.7
621.1
Total net capex
9
(250.9)
(284.3)
(206.6)
Operating cash flow after capital expenditure
9
326.0
274.3
369.3
Total net interest paid
9
(76.7)
(92.5)
(66.4)
Taxation
9
(50.4)
(74.2)
(29.0)
Dividends from JVs
9
27.1
20.0
32.0
Pensions contributions in excess of income statement
9
(81.2)
(145.0)
(67.0)
Free cash flow
10
145.4
53.0
194.6
Acquisitions and disposals net of cash/debt acquired
8
-
-
-
Issue of shares
9
-
-
-
Exceptional items
9
(46.9)
(100.0)
12.0
Dividends paid
9
(56.8)
(94.2)
-
Exchange difference/other
9
(6.1)
(70.0)
10.0
Net cash outflow
9
35.0
(20.1)
122.2
Opening debt
9
(1,505.9)
(1,623.6)
(1,062.5)
Closing debt (including IFRS 16 lease liabilities)
9
(1,540.4)
(1,696.9)
(1,401.7)
Of which IFRS 16 lease liabilities
8
(657.8)
(672.8)
(596.7)
Closing debt (excluding IFRS 16 lease liabilities)
8
(893.4)
(1,100.2)
(728.9)

Disclaimer

As a courtesy to its shareholders and other stakeholders, Babcock International Group PLC (Babcock) invites registered sell-side analysts that monitor the stock to submit their forecasts to the Vuma Consensus service, an external web-based tool independently managed by Vuma Financial Services Limited (VUMA), a company independent of Babcock.

The consensus figures are an aggregation of publicly available forecasts collated exclusively by VUMA, but only on the basis of information submitted by those analysts who choose to participate. The consensus figure for a particular item represents the arithmetic average of all figures for that item submitted to VUMA by analysts. VUMA has no access to Babcock's internal forecasts, budgets or any other information which is not publicly available.

The consensus figures are not based on Babcock’s own opinions, estimates or forecasts and are compiled and published without comment from, or endorsement or verification by, Babcock. The consensus figures do not necessarily reflect guidance provided from time to time by Babcock where given in relation to equivalent metrics, which to the extent available can be found on the Babcock website.

By enabling publication of the consensus figures and referencing the same on its website, Babcock does not imply that it endorses, confirms or expresses a view on the consensus figures. The consensus figures are provided for informational purposes only and are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by Babcock or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters. Babcock assumes no obligation to update, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

Babcock does not accept any liability whatsoever for reliance upon, or actions taken based on, any of the information set out in these consensus figures. The consensus figures are forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).

The consensus figures do not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Before making an investment decision, a prospective investor should consider its particular investment needs, objectives and financial circumstances, and should seek appropriate professional advice, tailored to the investor's circumstances. Any investment in securities is subject to investment risks.

Following the release of each Babcock results or trading updates, each of the contributing analysts is asked to submit their estimates to VUMA. The consensus figures therefore represent the estimates of these analysts only (not necessarily being the same analysts that contributed to consensus figures for previous results or trading updates) at the time of publication. Analyst estimates can change significantly from time to time. Any such changes in analysts’ estimates will not be reflected in the consensus figures published on VUMA’s website until Babcock invites sell-side analysts to submit their updated forecasts following the release of the next Babcock financial results.