UPDATE: Unilever HY 2015 -- Forecast

New: Nomura has restated his estimate for the operating margin.

FRANKFURT--The following is a summary of analysts' forecasts for Unilever NV (UN) 1st half-year results, based on a poll of 10 analysts conducted by Dow Jones Newswires (figures in million euros, margins in percent, EPS, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released July 23.

=== 
 
                                 Underl.Sales    Op. Marg. 
1st half-year            Sales    growth rate    reported 
AVERAGE                 26,768            2.6        14.2 
Prev. Year              24,098            3.7        18.2 
+/- in %                   +11             --          -- 
 
MEDIAN                  26,843            2.6        14.2 
Maximum                 26,912            2.8        14.3 
Minimum                 26,381            2.5        14.2 
Amount(a)                   10              9           4 
 
Baader-Helvea           26,768            2.6        14.2 
Berenberg               26,881            2.7        14.3 
Deutsche Bank           26,692            2.6          -- 
J.P. Morgan             26,814             --          -- 
Jefferies               26,912            2.6          -- 
Kepler Cheuvreux        26,381            2.5          -- 
Morgan Stanley          26,872            2.8          -- 
Nomura                  26,574            2.5        14.2 
UBS                     26,900            2.6          -- 
 
 
            Target price  Rating                   DPS 2015 
AVERAGE            39.13  positive 2    AVERAGE        1.21 
Prev. Quarter      38.25  neutral  4    Prev. Year     1.14 
+/- in %            +2.3  negative 2    +/- in %       +6.4 
 
MEDIAN             39.25                MEDIAN         1.21 
Maximum            46.00                Maximum        1.22 
Minimum            30.00                Minimum        1.21 
Amount                 8                Amount            6 
 
Baader-Helvea      42.00  Buy                            -- 
Berenberg          40.00  Hold                         1.21 
Deutsche Bank      46.00  Buy                          1.21 
J.P. Morgan        38.00  Underweight                  1.22 
Jefferies          38.50  Hold                         1.22 
Kepler Cheuvreux   40.00  Hold                         1.21 
Nomura             30.00  Reduce                       1.21 
UBS                38.50  Neutral                        -- 
=== 

Year-earlier figures are as reported by the company.

(a) Including anonymous estimates from one more analyst.

DJG/err 

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