Consensus estimates

Last data input: May 28, 2025

Contributors: 25

Median / actual (MDKK)	2024	2025e	2026e	2027e
Sales volume* (m hl)	125.7	150.2	155.6	157.8
- Western Europe (m hl)	42.9	62.7	64.0	64.6
- Asia (m hl)	44.6	45.4	46.8	48.3
- CEEI (m hl)	38.2	42.7	45.8	46.5
Net sales	75,011	92,226	97,000	100,319
- Western Europe	38,081	52,189	53,954	55,513
- Asia	20,466	21,038	22,298	23,744
- CEEI	16,454	19,230	21,034	22,138
- Other sales	10	10	10	10
EBIT before special items	11,411	13,905	15,144	16,106
- Western Europe	5,274	7,309	7,883	8,492
- Asia	4,632	4,801	5,047	5,425
- CEEI	3,039	3,488	3,783	4,073
- Other EBIT	-1,534	-1,540	-1,581	-1,588
Special items	-519	-458	-248	-192
Net financials	-905	-2,530	-2,453	-2,358
EBT	9,987	10,867	12,418	13,554
Taxes	-1,982	-2,480	-2,836	-3,075
Consolidated profit	8,005	8,427	9,573	10,518
Minority interests	-1,147	-1,117	-1,151	-1,194
Net profit	9,116	7,305	8,486	9,254
EBIT margin (%)	15.2	15.1	15.7	16.2
Tax rate (%)	19.8	23.0	23.0	23.0
EPS (DKK)	68.7	54.9	63.7	70.1
Adjusted EPS (DKK)	54.9	57.9	65.5	72.1
DPS (DKK)	27.0	28.6	32.0	35.3
Free cash flow	9,794	6,476	8,706	9,942
Net interest-bearing debt	27,357	60,646	56,379	53,039

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

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Consensus estimates

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