Consensus estimates

Last data input: Apr 11, 2025

Contributors: 26

Median / actual (MDKK)	2024	2025e	2026e	2027e
Sales volume* (m hl)	125.7	149.5	156.7
- Western Europe (m hl)	42.9	62.0	64.7
- Asia (m hl)	44.6	45.5	47.0
- CEEI (m hl)	38.2	39.7	43.5
Net sales	75,011	93,447	98,825	102,508
- Western Europe	38,081	52,476	54,857	55,580
- Asia	20,466	21,645	22,996	24,372
- CEEI	16,454	19,351	21,401	23,021
- Other sales	10	17	16	10
EBIT before special items	11,411	14,183	15,515	16,615
- Western Europe	5,274	7,356	8,006	8,459
- Asia	4,632	4,901	5,288	5,653
- CEEI	3,039	3,465	3,837	4,229
- Other EBIT	-1,534	-1,428	-1,493	-1,601
Special items	-519	-450	-235	-150
Net financials	-905	-2,661	-2,553	-2,376
EBT	9,987	11,016	12,662	13,955
Taxes	-1,982	-2,509	-2,875	-3,180
Consolidated profit	8,005	8,482	9,826	10,718
Minority interests	-1,147	-1,100	-1,148	-1,289
Net profit	9,116	7,416	8,609	9,487
EBIT margin (%)	15.2	15.3	15.7	16.3
Tax rate (%)	19.8	23.0	22.7	23.0
EPS (DKK)	68.7	55.8	65.0	72.6
Adjusted EPS (DKK)	54.9	58.7	66.7	73.6
DPS (DKK)	27.0	29.0	33.1	36.1
Free cash flow	9,794	6,183	9,268	9,767
Net interest-bearing debt	27,357	60,888	56,430	53,035

* Volume data is collected only once every quarter - prior to quarterly statements.

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Consensus estimates

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