Unilever 4Q 2014 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Unilever NV (UN) fourth-quarter results, based on a poll of seven analysts conducted by Dow Jones Newswires (figures in million euros, margins in percent, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released January 20.

=== 
                                           Underlying 
                             Underlying         Sales 
                                  Sales   Growth Rate 
4th Quarter         Sales   Growth Rate     Full Year 
AVERAGE            12,153           2.5           3.1 
Prev. Year         11,800           4.1           4.3 
+/- in %             +3.0           -39           -28 
 
MEDIAN             12,164           2.5           3.1 
Maximum            12,298           3.1           3.3 
Minimum            11,903           2.0           2.9 
Amount                  6             6             7 
 
Berenberg          12,256           2.7           3.1 
Deutsche Bank      12,134           2.2           3.0 
Exane BNP Paribas  12,182           2.2           3.0 
ING                12,298            --           3.3 
J.P.Morgan         12,145           2.7           3.1 
Jefferies              --           3.1           3.1 
Nomura             11,903           2.0           2.9 
 
 
        Target price  Rating             DPS 2014 
 
AVERAGE        31.12  positive 1  AVERAGE    1.15 
Prev. Quarter  30.97  neutral  3  Prev. Year 1.08 
+/- in %        +0.5  negative 3  +/- in %   +6.0 
 
MEDIAN         33.00              MEDIAN     1.14 
Maximum        34.00              Maximum    1.16 
Minimum        26.00              Minimum    1.14 
Amount             7              Amount        4 
 
Barclays       34.00  Equalweight            1.14 
Berenberg      33.50  Hold                   1.14 
Deutsche Bank  34.00  Buy                    1.16 
ING            33.00  Hold                     -- 
J.P.Morgan     29.00  Underweight              -- 
Jefferies      28.35  Underperform             -- 
Nomura         26.00  Reduce                 1.14 
=== 

Year-earlier figures are as reported by the company.

DJG/mus 

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