This consensus has been compiled by Network International Holdings plc (the Group) as of 30 September 2020, from forecasts provided by registered investment analysts. These forecasts are provided for information purposes only and are not endorsed by the Group, nor does the Group assume any obligation to update or revise the consensus to reflect circumstances after the date specified above.

Analyst consensus

The forecasts provided below reflect estimates for Network International, without any contribution from DPO.

The forecasts represent an average of those published by registered investment analysts, from a sample size specified below.

(USDm) FY20 FY21 FY22
Revenue 276.3 324.8 378.9
Underlying EBITDA* 113.9 144.0 177.8
Underlying EBITDA margin** 38.1% 42.4% 44.3%
Underlying net income 47.5 72.2 101.2
Total capital expenditure 45.7 78.5 53.0
       
Specially Disclosed Items TOTAL*** 39 29 21
SDIs impacting EBITDA 21 12 4
SDIs impacting net income 18 18 17
       
No of estimates contributing 9 9 9

Definitions

Underlying EBITDA: is defined as earnings from continuing operations before interest, taxes, depreciation and amortisation, impairment losses on assets, gain on sale of investment securities, share of depreciation of an associate and specially disclosed items affecting EBITDA.

Underlying Net Income: represents the Group’s profit from continuing operations adjusted for impairment losses on assets, gain on disposal of investment securities and specially disclosed items.

Specially disclosed items: are items of income or expenses that have been recognised in a given period which management believes, due to their materiality and being one-off / exceptional in nature, should be disclosed separately, to give a more comparable view of the period-to-period underlying financial performance.

Total capital expenditure: estimates include core maintenance capital expenditure, plus capital expenditure for growth accelerator and other strategic projects.

Analysts covering Network International

Company  Contact Name
Barclays James Goodman
Berenberg Tammy Qiu
Citi Ronit Ghose
Goldman Sachs Gautam Pillai
Exane BNP Paribas Alexandre Faure
Jefferies Julian Serafini
JP Morgan Sandeep Deshpande
Liberum Rahim Karim
Morgan Stanley Adam Wood
Autonomous Josh Levin