| KPI | [EUR m] | Q4 2023 | FY 2023 | Q4 2024 E | FY 2024 E | FY 2025 E | FY 2026 E |
|---|---|---|---|---|---|---|---|
| Net sales | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net sales | Highest | 206.0 | 692.0 | 718.0 | 740.0 | ||
| Net sales | Mean (Consensus) | 211.2 | 726.5 | 203.8 | 690.3 | 702.2 | 715.3 |
| Net sales | Median | 204.0 | 691.0 | 703.0 | 714.0 | ||
| Net sales | Lowest | 201.5 | 688.2 | 692.8 | 699.7 | ||
| Net sales growth (in %) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net sales growth (in %) | Highest | -3.0 | -4.9 | 3.8 | 3.1 | ||
| Net sales growth (in %) | Mean (Consensus) | -4.7 | 3.4 | -4.0 | -5.1 | 1.7 | 1.9 |
| Net sales growth (in %) | Median | -4.0 | -5.0 | 1.7 | 1.7 | ||
| Net sales growth (in %) | Lowest | -5.1 | -5.4 | 0.5 | 1.0 | ||
| Comparable EBITDA | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA | Highest | 27.7 | 67.6 | 77.0 | 83.6 | ||
| Comparable EBITDA | Mean (Consensus) | 27.1 | 68.2 | 26.4 | 66.4 | 72.9 | 77.9 |
| Comparable EBITDA | Median | 26.6 | 66.5 | 72.0 | 76.6 | ||
| Comparable EBITDA | Lowest | 25.6 | 65.5 | 71.6 | 76.0 | ||
| Comparable EBITDA margin (in %) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA margin (in %) | Highest | 13.7 | 9.8 | 10.7 | 11.3 | ||
| Comparable EBITDA margin (in %) | Mean (Consensus) | 12.8 | 9.4 | 13.0 | 9.6 | 10.4 | 10.9 |
| Comparable EBITDA margin (in %) | Median | 13.0 | 9.6 | 10.3 | 10.9 | ||
| Comparable EBITDA margin (in %) | Lowest | 12.4 | 9.5 | 10.2 | 10.7 | ||
| EBITDA | Number of Estimates | 5 | 5 | 5 | 5 | ||
| EBITDA | Highest | 27.7 | 65.6 | 77.0 | 83.6 | ||
| EBITDA | Mean (Consensus) | 21.9 | 67.5 | 26.3 | 64.3 | 72.9 | 77.9 |
| EBITDA | Median | 26.6 | 64.5 | 72.0 | 76.6 | ||
| EBITDA | Lowest | 25.1 | 63.0 | 71.6 | 76.0 | ||
| Comparable operating result | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable operating result | Highest | 20.8 | 40.6 | 50.2 | 56.4 | ||
| Comparable operating result | Mean (Consensus) | 18.9 | 34.8 | 19.6 | 39.5 | 46.6 | 51.8 |
| Comparable operating result | Median | 19.8 | 39.6 | 45.4 | 51.2 | ||
| Comparable operating result | Lowest | 18.9 | 38.7 | 45.3 | 49.0 | ||
| Comparable operating result margin (in %) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable operating result margin (in %) | Highest | 10.3 | 5.9 | 7.0 | 7.6 | ||
| Comparable operating result margin (in %) | Mean (Consensus) | 9.0 | 4.8 | 9.6 | 5.7 | 6.6 | 7.2 |
| Comparable operating result margin (in %) | Median | 9.7 | 5.7 | 6.6 | 7.1 | ||
| Comparable operating result margin (in %) | Lowest | 9.2 | 5.6 | 6.4 | 7.0 | ||
| Operating result | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Operating result | Highest | 20.8 | 38.6 | 50.2 | 56.4 | ||
| Operating result | Mean (Consensus) | -51.7 | -31.3 | 19.5 | 37.3 | 46.6 | 51.8 |
| Operating result | Median | 19.8 | 37.4 | 45.4 | 51.2 | ||
| Operating result | Lowest | 18.4 | 36.1 | 45.3 | 49.0 | ||
| Result for the period | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Result for the period | Highest | 15.3 | 18.0 | 32.4 | 38.4 | ||
| Result for the period | Mean (Consensus) | -44.2 | -39.9 | 12.4 | 14.8 | 24.7 | 30.8 |
| Result for the period | Median | 12.2 | 14.3 | 23.5 | 29.2 | ||
| Result for the period | Lowest | 10.6 | 13.1 | 20.8 | 26.7 | ||
| Average number of shares (in million) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Average number of shares (in million) | Highest | 67.554 | 67.554 | 67.554 | 67.554 | ||
| Average number of shares (in million) | Mean (Consensus) | 67.554 | 67.554 | 67.554 | 67.554 | 67.554 | 67.554 |
| Average number of shares (in million) | Median | 67.554 | 67.554 | 67.554 | 67.554 | ||
| Average number of shares (in million) | Lowest | 67.554 | 67.554 | 67.554 | 67.554 | ||
| Earnings per share (in EUR) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Earnings per share (in EUR) | Highest | 0.23 | 0.27 | 0.48 | 0.57 | ||
| Earnings per share (in EUR) | Mean (Consensus) | -0.65 | -0.59 | 0.18 | 0.22 | 0.37 | 0.45 |
| Earnings per share (in EUR) | Median | 0.18 | 0.21 | 0.35 | 0.43 | ||
| Earnings per share (in EUR) | Lowest | 0.16 | 0.20 | 0.31 | 0.39 | ||
| Dividend per share (in EUR) | Number of Estimates | - | 5 | 5 | 5 | ||
| Dividend per share (in EUR) | Highest | - | 0.22 | 0.32 | 0.37 | ||
| Dividend per share (in EUR) | Mean (Consensus) | - | 0.22 | - | 0.21 | 0.25 | 0.29 |
| Dividend per share (in EUR) | Median | - | 0.22 | 0.24 | 0.26 | ||
| Dividend per share (in EUR) | Lowest | - | 0.16 | 0.20 | 0.25 | ||
| Payout ratio | Number of Estimates | - | 5 | 5 | 5 | ||
| Payout ratio | Highest | - | 110.0 | 74.3 | 69.8 | ||
| Payout ratio | Mean (Consensus) | - | -37.3 | - | 95.2 | 67.7 | 63.2 |
| Payout ratio | Median | - | 100.0 | 66.7 | 64.9 | ||
| Payout ratio | Lowest | - | 80.0 | 64.5 | 52.1 | ||
| Net interesting bearing debt | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net interesting bearing debt | Highest | 158.0 | 158.0 | 146.0 | 132.0 | ||
| Net interesting bearing debt | Mean (Consensus) | 137.5 | 137.5 | 136.1 | 136.1 | 120.9 | 102.0 |
| Net interesting bearing debt | Median | 135.0 | 135.0 | 117.0 | 95.0 | ||
| Net interesting bearing debt | Lowest | 125.0 | 125.0 | 110.0 | 89.0 | ||
| Net interest bearing debt/comparable EBITDA | Number of Estimates | - | 5 | 5 | 5 | ||
| Net interest bearing debt/comparable EBITDA | Highest | - | 2.3 | 2.0 | 1.7 | ||
| Net interest bearing debt/comparable EBITDA | Mean (Consensus) | - | 2.0 | - | 2.0 | 1.7 | 1.3 |
| Net interest bearing debt/comparable EBITDA | Median | - | 2.1 | 1.5 | 1.2 | ||
| Net interest bearing debt/comparable EBITDA | Lowest | - | 1.9 | 1.5 | 1.2 | ||
| Net cash flow from operating activities | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net cash flow from operating activities | Highest | 124.1 | 56.0 | 70.4 | 71.0 | ||
| Net cash flow from operating activities | Mean (Consensus) | 100.1 | 135.3 | 108.0 | 39.9 | 57.7 | 60.3 |
| Net cash flow from operating activities | Median | 114.1 | 46.0 | 60.0 | 65.0 | ||
| Net cash flow from operating activities | Lowest | 92.1 | 24.0 | 38.0 | 44.0 | ||
| Net sales (external), Wine | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net sales (external), Wine | Highest | 98.3 | 321.0 | 334.0 | 344.0 | ||
| Net sales (external), Wine | Mean (Consensus) | 101.3 | 334.3 | 97.5 | 320.4 | 326.7 | 333.8 |
| Net sales (external), Wine | Median | 98.0 | 321.0 | 327.0 | 334.0 | ||
| Net sales (external), Wine | Lowest | 95.3 | 318.2 | 320.6 | 326.1 | ||
| Comparable EBITDA, Wine | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA, Wine | Highest | 9.5 | 18.0 | 25.0 | 28.0 | ||
| Comparable EBITDA, Wine | Mean (Consensus) | 10.2 | 12.4 | 9.3 | 17.8 | 22.0 | 24.4 |
| Comparable EBITDA, Wine | Median | 9.3 | 17.9 | 21.6 | 23.4 | ||
| Comparable EBITDA, Wine | Lowest | 9.1 | 17.6 | 20.1 | 22.6 | ||
| Comparable EBITDA margin, Wine (in %) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA margin, Wine (in %) | Highest | 10.0 | 5.7 | 7.5 | 8.1 | ||
| Comparable EBITDA margin, Wine (in %) | Mean (Consensus) | 10.1 | 3.7 | 9.5 | 5.6 | 6.7 | 7.3 |
| Comparable EBITDA margin, Wine (in %) | Median | 9.5 | 5.6 | 6.6 | 7.0 | ||
| Comparable EBITDA margin, Wine (in %) | Lowest | 9.3 | 5.5 | 6.3 | 6.9 | ||
| Net sales (external), Spirits | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Net sales (external), Spirits | Highest | 70.7 | 229.0 | 236.0 | 243.0 | ||
| Net sales (external), Spirits | Mean (Consensus) | 72.8 | 237.0 | 69.9 | 228.0 | 229.1 | 231.4 |
| Net sales (external), Spirits | Median | 70.0 | 228.0 | 230.0 | 233.0 | ||
| Net sales (external), Spirits | Lowest | 68.0 | 226.0 | 222.0 | 217.0 | ||
| Comparable EBITDA, Spirits | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA, Spirits | Highest | 15.8 | 40.7 | 43.0 | 45.0 | ||
| Comparable EBITDA, Spirits | Mean (Consensus) | 15.1 | 40.3 | 14.6 | 39.6 | 40.5 | 41.8 |
| Comparable EBITDA, Spirits | Median | 14.4 | 39.3 | 40.3 | 42.6 | ||
| Comparable EBITDA, Spirits | Lowest | 14.0 | 38.9 | 38.3 | 39.0 | ||
| Comparable EBITDA margin, Spirits (in %) | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA margin, Spirits (in %) | Highest | 23.2 | 18.0 | 18.2 | 18.5 | ||
| Comparable EBITDA margin, Spirits (in %) | Mean (Consensus) | 20.7 | 17.0 | 20.9 | 17.4 | 17.7 | 18.1 |
| Comparable EBITDA margin, Spirits (in %) | Median | 20.4 | 17.2 | 17.9 | 18.3 | ||
| Comparable EBITDA margin, Spirits (in %) | Lowest | 20.0 | 17.1 | 16.9 | 17.0 | ||
| Net sales (total), Industrial | Number of Estimates | 4 | 4 | 4 | 4 | ||
| Net sales (total), Industrial | Highest | 61.8 | 237.9 | 248.5 | 256.4 | ||
| Net sales (total), Industrial | Mean (Consensus) | 60.7 | 269.5 | 60.7 | 236.7 | 243.4 | 249.1 |
| Net sales (total), Industrial | Median | 60.5 | 236.5 | 242.0 | 247.0 | ||
| Net sales (total), Industrial | Lowest | 60.0 | 236.0 | 241.0 | 246.0 | ||
| Comparable EBITDA, Industrial | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Comparable EBITDA, Industrial | Highest | 5.0 | 14.6 | 16.9 | 19.7 | ||
| Comparable EBITDA, Industrial | Mean (Consensus) | 3.1 | 17.5 | 3.8 | 13.3 | 15.1 | 16.6 |
| Comparable EBITDA, Industrial | Median | 3.8 | 13.4 | 14.5 | 16.0 | ||
| Comparable EBITDA, Industrial | Lowest | 2.9 | 12.0 | 14.0 | 15.2 | ||
| Comparable EBITDA margin, Industrial (in %) | Number of Estimates | 4 | 4 | 4 | 4 | ||
| Comparable EBITDA margin, Industrial (in %) | Highest | 8.3 | 6.2 | 7.0 | 8.0 | ||
| Comparable EBITDA margin, Industrial (in %) | Mean (Consensus) | 5.1 | 6.5 | 6.7 | 5.7 | 6.3 | 6.7 |
| Comparable EBITDA margin, Industrial (in %) | Median | 6.9 | 5.8 | 6.3 | 6.4 | ||
| Comparable EBITDA margin, Industrial (in %) | Lowest | 4.7 | 5.0 | 5.6 | 6.2 | ||
| Net sales (internal), Industrial | Number of Estimates | 4 | 4 | 4 | 4 | ||
| Net sales (internal), Industrial | Highest | 25.2 | 95.6 | 99.9 | 103.0 | ||
| Net sales (internal), Industrial | Mean (Consensus) | 23.6 | 114.3 | 24.6 | 94.9 | 96.5 | 98.5 |
| Net sales (internal), Industrial | Median | 24.5 | 95.0 | 96.0 | 98.0 | ||
| Net sales (internal), Industrial | Lowest | 24.0 | 94.0 | 94.0 | 95.0 | ||
| Group and allocations, total EBITDA | Number of Estimates | 5 | 5 | 5 | 5 | ||
| Group and allocations, total EBITDA | Highest | -0.3 | -3.3 | -1.0 | -1.0 | ||
| Group and allocations, total EBITDA | Mean (Consensus) | -1.3 | -1.9 | -1.3 | -4.5 | -4.7 | -4.8 |
| Group and allocations, total EBITDA | Median | -1.5 | -4.6 | -5.5 | -6.0 | ||
| Group and allocations, total EBITDA | Lowest | -1.9 | -5.0 | -6.0 | -6.0 |
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
