| KPI | [EUR m] | FY 2023 | 1H 2024 E | FY 2024 E | FY 2025 E | FY 2026 E |
|---|---|---|---|---|---|---|
| Revenue, other income and net income (expenses) from settlement mechanism | Number of Estimates | 5 | 5 | 5 | 5 | |
| Revenue, other income and net income (expenses) from settlement mechanism | Highest | 2,540.1 | 5,287.3 | 6,803.8 | 8,377.0 | |
| Revenue, other income and net income (expenses) from settlement mechanism | Consensus (Mean) | 3,953.5 | 2,178.4 | 4,493.4 | 5,377.7 | 6,266.7 |
| Revenue, other income and net income (expenses) from settlement mechanism | Median | 2,220.5 | 4,441.0 | 5,175.2 | 5,944.4 | |
| Revenue, other income and net income (expenses) from settlement mechanism | Lowest | 1,862.0 | 3,759.6 | 3,944.8 | 4,303.2 | |
| Adjusted EBIT | Number of Estimates | 5 | 6 | 6 | 6 | |
| Adjusted EBIT | Highest | 441.6 | 901.1 | 1,174.3 | 1,477.4 | |
| Adjusted EBIT | Consensus (Mean) | 686.3 | 413.2 | 852.2 | 1,072.8 | 1,327.1 |
| Adjusted EBIT | Median | 425.0 | 857.7 | 1,056.0 | 1,318.6 | |
| Adjusted EBIT | Lowest | 364.7 | 799.1 | 1,011.2 | 1,204.0 | |
| Adjusted net profit | Number of Estimates | 5 | 6 | 6 | 6 | |
| Adjusted net profit | Highest | 240.3 | 447.1 | 569.2 | 713.1 | |
| Adjusted net profit | Consensus (Mean) | 411.4 | 216.6 | 440.1 | 548.8 | 676.3 |
| Adjusted net profit | Median | 216.6 | 444.0 | 548.4 | 671.7 | |
| Adjusted net profit | Lowest | 195.0 | 419.2 | 530.8 | 640.4 | |
| Net profit | Number of Estimates | 5 | 6 | 6 | 6 | |
| Net profit | Highest | 240.3 | 447.1 | 569.2 | 713.1 | |
| Net profit | Consensus (Mean) | 399.5 | 217.8 | 440.1 | 548.8 | 676.3 |
| Net profit | Median | 217.8 | 444.0 | 548.4 | 671.7 | |
| Net profit | Lowest | 195.0 | 419.2 | 530.8 | 640.4 | |
| Net profit attributable to owners of ordinary shares | Number of Estimates | 5 | 6 | 6 | 6 | |
| Net profit attributable to owners of ordinary shares | Highest | 196.0 | 365.4 | 469.4 | 600.4 | |
| Net profit attributable to owners of ordinary shares | Consensus (Mean) | 324.5 | 177.3 | 358.0 | 453.5 | 568.5 |
| Net profit attributable to owners of ordinary shares | Median | 177.3 | 361.0 | 452.6 | 563.1 | |
| Net profit attributable to owners of ordinary shares | Lowest | 157.3 | 340.1 | 437.9 | 535.1 | |
| Reported EPS (EUR) | Number of Estimates | 5 | 6 | 6 | 6 | |
| Reported EPS (EUR) | Highest | 2.67 | 4.97 | 5.75 | 6.82 | |
| Reported EPS (EUR) | Consensus (Mean) | 4.41 | 2.41 | 4.87 | 5.25 | 6.03 |
| Reported EPS (EUR) | Median | 2.41 | 4.91 | 5.52 | 6.31 | |
| Reported EPS (EUR) | Lowest | 2.14 | 4.63 | 3.71 | 4.54 | |
| DPS (gross) (EUR) | Number of Estimates | - | 6 | 6 | 6 | |
| DPS (gross) (EUR) | Highest | - | 2.07 | 2.13 | 2.19 | |
| DPS (gross) (EUR) | Consensus (Mean) | 1.99 | - | 2.05 | 2.10 | 2.14 |
| DPS (gross) (EUR) | Median | - | 2.05 | 2.09 | 2.14 | |
| DPS (gross) (EUR) | Lowest | - | 2.03 | 2.07 | 2.11 | |
| Capex | Number of Estimates | 4 | 6 | 6 | 6 | |
| Capex | Highest | -1,570.5 | -4,700.0 | -4,650.0 | -5,724.8 | |
| Capex | Consensus (Mean) | -2,476.7 | -1,728.4 | -4,760.9 | -4,925.1 | -5,951.8 |
| Capex | Median | -1,757.8 | -4,725.6 | -4,984.3 | -5,925.0 | |
| Capex | Lowest | -1,827.5 | -4,929.4 | -5,101.0 | -6,200.0 | |
| Net financial debt | Number of Estimates | 3 | 6 | 6 | 6 | |
| Net financial debt | Highest | 10,444.9 | 12,912.5 | 16,027.5 | 19,484.0 | |
| Net financial debt | Consensus (Mean) | 8,641.9 | 9,220.6 | 12,649.1 | 14,696.9 | 18,671.4 |
| Net financial debt | Median | 9,731.9 | 12,741.6 | 14,804.2 | 18,923.9 | |
| Net financial debt | Lowest | 7,484.9 | 12,031.9 | 12,466.0 | 17,348.2 | |
| Net debt excluding EEG | Number of Estimates | 4 | 5 | 5 | 5 | |
| Net debt excluding EEG | Highest | 10,994.5 | 13,362.5 | 16,432.5 | 19,605.2 | |
| Net debt excluding EEG | Consensus (Mean) | 8,994.5 | 10,494.9 | 12,879.4 | 14,958.1 | 18,722.8 |
| Net debt excluding EEG | Median | 10,450.2 | 13,032.5 | 15,021.2 | 18,736.4 | |
| Net debt excluding EEG | Lowest | 10,084.9 | 12,131.9 | 12,818.6 | 17,700.8 | |
| Group ROE adj. (%) | Number of Estimates | - | 5 | 5 | 5 | |
| Group ROE adj. (%) | Highest | - | 7.90 | 8.34 | 8.69 | |
| Group ROE adj. (%) | Consensus (Mean) | 6.91 | - | 7.34 | 6.88 | 7.29 |
| Group ROE adj. (%) | Median | - | 7.47 | 6.59 | 7.42 | |
| Group ROE adj. (%) | Lowest | - | 6.85 | 4.83 | 5.73 | |
| ETB net profit | Number of Estimates | - | 6 | 6 | 6 | |
| ETB net profit | Highest | - | 219.0 | 248.2 | 299.0 | |
| ETB net profit | Consensus (Mean) | 180.9 | - | 210.2 | 241.3 | 283.7 |
| ETB net profit | Median | - | 209.9 | 244.4 | 285.2 | |
| ETB net profit | Lowest | - | 199.6 | 231.2 | 266.7 | |
| ETB ROE (%) | Number of Estimates | - | 5 | 5 | 5 | |
| ETB ROE (%) | Highest | - | 6.99 | 7.23 | 7.10 | |
| ETB ROE (%) | Consensus (Mean) | 6.20 | - | 6.73 | 6.91 | 6.81 |
| ETB ROE (%) | Median | - | 6.77 | 6.86 | 6.86 | |
| ETB ROE (%) | Lowest | - | 6.38 | 6.66 | 6.38 | |
| 50Hertz net profit | Number of Estimates | - | 6 | 6 | 6 | |
| 50Hertz net profit | Highest | - | 270.0 | 355.0 | 419.8 | |
| 50Hertz net profit | Consensus (Mean) | 218.5 | - | 264.8 | 330.5 | 391.1 |
| 50Hertz net profit | Median | - | 266.9 | 328.6 | 390.4 | |
| 50Hertz net profit | Lowest | - | 252.1 | 309.9 | 361.0 | |
| 50Hertz ROE (%) | Number of Estimates | - | 5 | 5 | 5 | |
| 50Hertz ROE (%) | Highest | - | 12.09 | 10.50 | 10.80 | |
| 50Hertz ROE (%) | Consensus (Mean) | 9.50 | - | 10.22 | 9.26 | 8.86 |
| 50Hertz ROE (%) | Median | - | 10.20 | 9.62 | 9.40 | |
| 50Hertz ROE (%) | Lowest | - | 8.95 | 7.54 | 7.11 | |
| Non-regulated and Nemo Link net profit | Number of Estimates | 3 | 6 | 6 | 6 | |
| Non-regulated and Nemo Link net profit | Highest | 6.1 | -34.0 | -16.4 | 16.0 | |
| Non-regulated and Nemo Link net profit | Consensus (Mean) | 0.2 | -8.7 | -39.4 | -24.1 | -0.8 |
| Non-regulated and Nemo Link net profit | Median | -11.9 | -39.0 | -22.5 | 3.2 | |
| Non-regulated and Nemo Link net profit | Lowest | -20.3 | -45.2 | -40.0 | -18.0 |
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.
