Consensus estimates

Last data input: Mar 14, 2025

Contributors: 25

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	93,648	99,418	103,715
- Western Europe	38,081	52,236	54,931	55,893
- Asia	20,466	21,796	23,148	24,375
- CEEI	16,454	19,351	21,401	23,035
- Other sales	10	18	19	10
EBIT before special items	11,411	14,279	15,593	16,820
- Western Europe	5,274	7,341	8,006	8,523
- Asia	4,632	4,909	5,288	5,653
- CEEI	3,039	3,475	3,877	4,214
- Other EBIT	-1,534	-1,411	-1,508	-1,625
Special items	-519	-458	-248	-152
Net financials	-905	-2,655	-2,529	-2,342
EBT	9,987	11,131	12,850	14,225
Taxes	-1,982	-2,513	-2,898	-3,239
Consolidated profit	8,005	8,611	9,948	10,921
Minority interests	-1,147	-1,093	-1,148	-1,256
Net profit	9,116	7,523	8,800	9,775
EBIT margin (%)	15.2	15.3	15.8	16.3
Tax rate (%)	19.8	22.6	22.6	23.0
EPS (DKK)	68.7	56.8	65.7	73.6
Adjusted EPS (DKK)	54.9	59.4	67.4	74.3
DPS (DKK)	27.0	29.0	33.6	36.7
Free cash flow	9,794	6,183	9,281	9,866
Net interest-bearing debt	27,357	60,941	56,815	52,978

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

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Consensus estimates

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