Analysts' Estimates

(As of 02/13/2017)

Reference to recommendations and assessments serves only for reader information and is non-binding. This document does not imply that innogy SE subscribes to these recommendations, opinions or conclusions in any form whatsoever, or that innogy SE supports or confirms them. Innogy SE accepts no liability for the selection, current relevance, completeness or correctness of the analysts’ recommendations and assessments reproduced here. None of the information provided is to be understood as an offer for purchase of innogy shares or innogy bonds, or to be advertising same. Any liability on the part of innogy SE for losses incurred by third parties arising from the information contained on this Internet site is precluded.

EBITDA (million €) 2015 2016E 2017E 2018E
- Number of estimates 16 16 16
- Highest 4,333 4,619 4,822
- Average 4,521 4,187 4,406 4,563
- Median 4,201 4,419 4,544
- Lowest 3,845 4,045 4,099

EBIT (million €) 2015 2016E 2017E 2018E
- Number of estimates 16 16 16
- Highest 2,905 3,082 3,251
- Average 3,050 2,717 2,897 3,015
- Median 2,728 2,892 2,991
- Lowest 2,409 2,602 2,631

Adjusted net income (million €) 2015 2016E 2017E 2018E
- Number of estimates 16 16 16
- Highest 1,163 1,403 1,422
- Average

-

1,122 1,267 1,346
- Median 1,117 1,264 1,347
- Lowest 1,089 1,202 1,257

EPS from adjusted net income (€) 2015 2016E 2017E 2018E
- Number of estimates 16 16 16
- Highest 2.09 2.53 2.56
- Average

-

2.02 2.28 2.42
- Median 2.01 2.28 2.42
- Lowest 1.96 2.16 2.26

DPS (€) 2015 2016E 2017E 2018E
- Number of estimates 15 15 15
- Highest 1.63 1.81 1.92
- Average - 1.56 1.66 1.76
- Median 1.57 1.65 1.76
- Lowest 1.46 1.50 1.59

Note: This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of innogy SE.
innogy SE did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.