Consensus Estimates

Sanlam's consensus estimates for 2011 and 2012


Please see the tables and charts below for the survey of Sanlam's consensus estimates for 2011 and 2012.

The tables indicate :
  1. Analysts' Consensus estimates
  2. Analysts' Consensus estimates (excluding outliers, i.e. high and low estimates)

2011
   High Low Consensus Consensus
(ex-high/low)
Net result from financial services per share 181.6 163.8 174.0 174.4
Normalised headline earnings per share 264.0 209.8 236.6 236.6
DPS Dividend per share (cents) 130.0 120.8 125.5 125.5
VNB (net) Value of new business (net of minorities) (R'm) 815.0 720.0 772.1 773.3
PV NBP (net) Present value of new business premiums (net of minorities (R'm) 30 533 27 468 29 001 29 001
PV NBP margins (net) Margins on a PV NBP basis (net of minorities)(%)
2.77% 2.57% 2.66% 2.67%
GEV per share Group Equity Value per share (rand) 31.72 29.42 30.62 30.63
FUM (Rbn) Funds under management (R'bn)
540 510 525 525

2012
   High Low Consensus Consensus
(ex-high/low)
Net result from financial services per share 207.0 164.9 185.4 185.3
Normalised headline earnings per share 293.0 229.4 272.5 275.7
DPS Dividend per share (cents) 150.0 126.8 136.5 136.1
VNB (net) Value of new business (net of minorities) (R'm) 910.0 675.0 810.9 816.1
PV NBP (net) Present value of new business premiums (net of minorities (R'm) 33 463 26 646 31 030 31 274
PV NBP margins (net) Margins on a PV NBP basis (net of minorities)(%)
2.75% 2.53% 2.61% 2.61%
GEV per share Group Equity Value per share (rand) 34.57 30.44 33.15 33.31
FUM (Rbn) Funds under management (R'bn)
613 537 577 577


The charts indicate:
  1. Analysts' Consensus estimates
  2. Analysts' Consensus estimates (excluding outliers, i.e. high and low estimates)
  3. Range of Analysts' estimates (from high to low estimates)

The charts were compiled following the input of all the sell-side analysts (based in South Africa) with current research coverage of Sanlam (SLMJ.J) (Total = 10 analysts). The information was based on the aforementioned analyst's most recent forecasts, as published per their recent research reports (compiled as at 8 February 2012).

The next consensus figures will be available in August 2012.












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