| KPI | [EUR m] | Q1 2023 | FY 2023 | Q1 2024 E | FY 2024 E | FY 2025 E | FY 2026 E | FY 2027 E |
|---|---|---|---|---|---|---|---|---|
| Specialty Additives; Sales | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Specialty Additives; Sales | Highest | 955.0 | 3,714.0 | 3,843.8 | 3,997.6 | 4,159.9 | ||
| Specialty Additives; Sales | Average | 885.7 | 3,557.7 | 3,706.1 | 3,820.4 | 3,945.4 | ||
| Specialty Additives; Sales | Consensus (Median) | 921.0 | 3,520.0 | 884.2 | 3,525.4 | 3,685.4 | 3,780.3 | 3,925.9 |
| Specialty Additives; Sales | Lowest | 838.1 | 3,423.8 | 3,583.0 | 3,673.0 | 3,819.5 | ||
| Specialty Additives; Adjusted EBITDA | Number of Estimates | 8 | 13 | 12 | 9 | 6 | ||
| Specialty Additives; Adjusted EBITDA | Highest | 183.0 | 732.2 | 837.0 | 879.5 | 932.8 | ||
| Specialty Additives; Adjusted EBITDA | Average | 164.7 | 686.2 | 761.9 | 792.8 | 853.8 | ||
| Specialty Additives; Adjusted EBITDA | Consensus (Median) | 168.0 | 673.0 | 162.0 | 684.0 | 757.1 | 791.6 | 843.8 |
| Specialty Additives; Adjusted EBITDA | Lowest | 155.0 | 664.0 | 699.0 | 692.0 | 779.1 | ||
| Specialty Additives; Adjusted EBITDA margin in % | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Specialty Additives; Adjusted EBITDA margin in % | Highest | 20.5 | 20.2 | 22.0 | 23.0 | 24.0 | ||
| Specialty Additives; Adjusted EBITDA margin in % | Average | 18.8 | 19.3 | 20.5 | 21.1 | 21.7 | ||
| Specialty Additives; Adjusted EBITDA margin in % | Consensus (Median) | 18.2 | 19.1 | 18.5 | 19.2 | 20.5 | 21.3 | 22.0 |
| Specialty Additives; Adjusted EBITDA margin in % | Lowest | 17.6 | 18.4 | 18.6 | 18.7 | 18.7 | ||
| Specialty Additives; Adjusted EBIT | Number of Estimates | 7 | 7 | 6 | 6 | 6 | ||
| Specialty Additives; Adjusted EBIT | Highest | 134.0 | 511.0 | 625.6 | 691.2 | 759.6 | ||
| Specialty Additives; Adjusted EBIT | Average | 119.0 | 495.5 | 564.4 | 611.9 | 657.1 | ||
| Specialty Additives; Adjusted EBIT | Consensus (Median) | 121.0 | 489.0 | 116.6 | 494.8 | 564.1 | 607.3 | 642.6 |
| Specialty Additives; Adjusted EBIT | Lowest | 109.0 | 482.4 | 516.9 | 542.7 | 571.2 | ||
| Nutrition & Care; Sales | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Nutrition & Care; Sales | Highest | 974.6 | 3,972.1 | 4,094.9 | 4,299.6 | 4,514.6 | ||
| Nutrition & Care; Sales | Average | 938.5 | 3,825.6 | 3,967.7 | 4,141.2 | 4,271.7 | ||
| Nutrition & Care; Sales | Consensus (Median) | 886.0 | 3,611.0 | 948.0 | 3,828.8 | 4,001.0 | 4,179.5 | 4,335.0 |
| Nutrition & Care; Sales | Lowest | 859.4 | 3,567.0 | 3,707.0 | 3,893.0 | 3,994.5 | ||
| Animal Nutrition; Sales | Number of Estimates | 5 | 5 | 4 | 4 | 4 | ||
| Animal Nutrition; Sales | Highest | 501.4 | 1,984.6 | 2,019.9 | 2,096.3 | 2,175.7 | ||
| Animal Nutrition; Sales | Average | 468.1 | 1,840.0 | 1,898.9 | 1,967.4 | 2,038.7 | ||
| Animal Nutrition; Sales | Consensus (Median) | 441.0 | 1,750.0 | 459.0 | 1,820.0 | 1,892.0 | 1,981.7 | 2,075.8 |
| Animal Nutrition; Sales | Lowest | 449.8 | 1,766.4 | 1,791.7 | 1,809.7 | 1,827.8 | ||
| Health & Care; Sales | Number of Estimates | 5 | 5 | 4 | 4 | 4 | ||
| Health & Care; Sales | Highest | 481.0 | 2,074.4 | 2,139.7 | 2,116.4 | 2,207.6 | ||
| Health & Care; Sales | Average | 461.4 | 1,969.8 | 2,049.2 | 2,096.9 | 2,146.0 | ||
| Health & Care; Sales | Consensus (Median) | 445.0 | 1,861.0 | 480.4 | 1,954.0 | 2,029.0 | 2,093.8 | 2,173.3 |
| Health & Care; Sales | Lowest | 409.6 | 1,918.5 | 1,999.0 | 2,083.4 | 2,029.9 | ||
| Nutrition & Care; Adjusted EBITDA | Number of Estimates | 8 | 13 | 12 | 9 | 6 | ||
| Nutrition & Care; Adjusted EBITDA | Highest | 175.0 | 595.8 | 664.0 | 695.5 | 768.3 | ||
| Nutrition & Care; Adjusted EBITDA | Average | 133.9 | 526.1 | 583.7 | 600.6 | 662.2 | ||
| Nutrition & Care; Adjusted EBITDA | Consensus (Median) | 76.0 | 389.0 | 133.6 | 520.0 | 590.5 | 588.9 | 656.4 |
| Nutrition & Care; Adjusted EBITDA | Lowest | 96.9 | 473.0 | 531.0 | 526.8 | 575.1 | ||
| Nutrition & Care; Adjusted EBITDA margin in % | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Nutrition & Care; Adjusted EBITDA margin in % | Highest | 14.8 | 15.0 | 16.1 | 16.6 | 17.6 | ||
| Nutrition & Care; Adjusted EBITDA margin in % | Average | 13.6 | 13.8 | 14.5 | 14.7 | 15.5 | ||
| Nutrition & Care; Adjusted EBITDA margin in % | Consensus (Median) | 8.6 | 10.8 | 14.0 | 13.7 | 14.6 | 14.6 | 14.9 |
| Nutrition & Care; Adjusted EBITDA margin in % | Lowest | 11.3 | 12.7 | 13.0 | 12.5 | 14.1 | ||
| Nutrition & Care; Adjusted EBIT | Number of Estimates | 7 | 7 | 6 | 6 | 6 | ||
| Nutrition & Care; Adjusted EBIT | Highest | 79.8 | 312.3 | 367.9 | 444.6 | 514.0 | ||
| Nutrition & Care; Adjusted EBIT | Average | 67.4 | 269.2 | 341.4 | 373.7 | 407.2 | ||
| Nutrition & Care; Adjusted EBIT | Consensus (Median) | 13.0 | 147.0 | 73.0 | 258.3 | 358.8 | 373.1 | 400.8 |
| Nutrition & Care; Adjusted EBIT | Lowest | 36.8 | 229.2 | 270.0 | 307.6 | 323.3 | ||
| Smart Materials; Sales | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Smart Materials; Sales | Highest | 1,167.1 | 4,728.7 | 4,965.1 | 5,163.7 | 5,166.4 | ||
| Smart Materials; Sales | Average | 1,127.5 | 4,506.8 | 4,677.3 | 4,839.5 | 4,946.3 | ||
| Smart Materials; Sales | Consensus (Median) | 1,188.0 | 4,461.0 | 1,128.6 | 4,481.6 | 4,638.7 | 4,811.6 | 5,004.4 |
| Smart Materials; Sales | Lowest | 1,084.6 | 4,410.6 | 4,599.5 | 4,645.0 | 4,668.0 | ||
| Inorganics; Sales | Number of Estimates | 5 | 5 | 4 | 4 | 4 | ||
| Inorganics; Sales | Highest | 885.8 | 3,380.1 | 3,435.2 | 3,538.3 | 3,644.4 | ||
| Inorganics; Sales | Average | 830.6 | 3,258.5 | 3,363.0 | 3,459.6 | 3,561.0 | ||
| Inorganics; Sales | Consensus (Median) | 860.0 | 3,238.0 | 817.0 | 3,238.0 | 3,366.7 | 3,437.9 | 3,577.3 |
| Inorganics; Sales | Lowest | 774.0 | 3,157.1 | 3,283.3 | 3,424.5 | 3,445.1 | ||
| Polymers; Sales | Number of Estimates | 5 | 5 | 4 | 4 | 4 | ||
| Polymers; Sales | Highest | 328.3 | 1,295.1 | 1,335.0 | 1,382.0 | 1,438.0 | ||
| Polymers; Sales | Average | 295.4 | 1,222.4 | 1,272.5 | 1,293.7 | 1,312.3 | ||
| Polymers; Sales | Consensus (Median) | 328.0 | 1,224.0 | 310.6 | 1,248.0 | 1,278.1 | 1,293.0 | 1,319.6 |
| Polymers; Sales | Lowest | 219.0 | 1,075.4 | 1,198.9 | 1,207.1 | 1,172.1 | ||
| Smart Materials; Adjusted EBITDA | Number of Estimates | 8 | 13 | 12 | 9 | 6 | ||
| Smart Materials; Adjusted EBITDA | Highest | 159.5 | 601.0 | 753.0 | 770.7 | 869.3 | ||
| Smart Materials; Adjusted EBITDA | Average | 143.3 | 574.5 | 650.6 | 682.5 | 756.5 | ||
| Smart Materials; Adjusted EBITDA | Consensus (Median) | 164.0 | 540.0 | 140.3 | 571.0 | 657.8 | 699.6 | 741.7 |
| Smart Materials; Adjusted EBITDA | Lowest | 130.0 | 544.0 | 592.0 | 556.0 | 635.2 | ||
| Smart Materials; Adjusted EBITDA margin in % | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Smart Materials; Adjusted EBITDA margin in % | Highest | 14.7 | 13.5 | 14.8 | 16.0 | 17.0 | ||
| Smart Materials; Adjusted EBITDA margin in % | Average | 12.8 | 12.8 | 13.8 | 14.4 | 15.3 | ||
| Smart Materials; Adjusted EBITDA margin in % | Consensus (Median) | 13.8 | 12.1 | 12.5 | 12.7 | 13.8 | 14.3 | 15.1 |
| Smart Materials; Adjusted EBITDA margin in % | Lowest | 11.5 | 12.3 | 12.8 | 13.2 | 13.6 | ||
| Smart Materials; Adjusted EBIT | Number of Estimates | 7 | 7 | 6 | 6 | 6 | ||
| Smart Materials; Adjusted EBIT | Highest | 83.6 | 290.3 | 330.4 | 417.2 | 502.9 | ||
| Smart Materials; Adjusted EBIT | Average | 58.8 | 220.4 | 297.9 | 351.3 | 400.3 | ||
| Smart Materials; Adjusted EBIT | Consensus (Median) | 79.0 | 181.0 | 54.5 | 216.0 | 300.3 | 347.2 | 385.6 |
| Smart Materials; Adjusted EBIT | Lowest | 38.0 | 187.0 | 253.1 | 283.7 | 310.9 | ||
| Performance Materials; Sales | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Performance Materials; Sales | Highest | 688.6 | 2,705.0 | 2,776.4 | 2,832.0 | 2,888.6 | ||
| Performance Materials; Sales | Average | 646.1 | 2,356.6 | 2,401.0 | 2,421.4 | 2,707.9 | ||
| Performance Materials; Sales | Consensus (Median) | 707.0 | 2,549.0 | 664.6 | 2,431.6 | 2,537.9 | 2,614.0 | 2,773.9 |
| Performance Materials; Sales | Lowest | 566.0 | 1,759.0 | 1,741.4 | 1,724.0 | 2,367.6 | ||
| Performance Materials; Adjusted EBITDA | Number of Estimates | 8 | 13 | 12 | 9 | 6 | ||
| Performance Materials; Adjusted EBITDA | Highest | 30.0 | 165.2 | 300.0 | 300.0 | 300.0 | ||
| Performance Materials; Adjusted EBITDA | Average | 24.4 | 132.3 | 180.3 | 197.2 | 228.9 | ||
| Performance Materials; Adjusted EBITDA | Consensus (Median) | 37.0 | 111.0 | 26.9 | 130.0 | 177.4 | 183.5 | 212.5 |
| Performance Materials; Adjusted EBITDA | Lowest | 15.7 | 113.0 | 127.0 | 145.0 | 184.2 | ||
| Performance Materials; Adjusted EBITDA margin in % | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Performance Materials; Adjusted EBITDA margin in % | Highest | 4.9 | 7.3 | 12.1 | 11.8 | 11.4 | ||
| Performance Materials; Adjusted EBITDA margin in % | Average | 3.7 | 5.7 | 8.0 | 8.5 | 8.5 | ||
| Performance Materials; Adjusted EBITDA margin in % | Consensus (Median) | 5.2 | 4.4 | 4.0 | 5.5 | 7.9 | 8.2 | 8.2 |
| Performance Materials; Adjusted EBITDA margin in % | Lowest | 2.3 | 4.2 | 5.9 | 6.2 | 6.5 | ||
| Performance Materials; Adjusted EBIT | Number of Estimates | 7 | 7 | 6 | 6 | 6 | ||
| Performance Materials; Adjusted EBIT | Highest | 7.0 | 60.8 | 213.8 | 215.5 | 217.2 | ||
| Performance Materials; Adjusted EBIT | Average | -3.5 | 32.6 | 94.7 | 110.6 | 122.9 | ||
| Performance Materials; Adjusted EBIT | Consensus (Median) | 8.0 | 4.0 | -3.4 | 33.1 | 74.0 | 79.4 | 98.6 |
| Performance Materials; Adjusted EBIT | Lowest | -11.9 | 10.0 | 49.5 | 70.1 | 71.6 | ||
| Technology & Infrastructure / Other; Sales | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Technology & Infrastructure / Other; Sales | Highest | 378.8 | 1,407.5 | 1,407.5 | 1,407.5 | 1,407.5 | ||
| Technology & Infrastructure / Other; Sales | Average | 300.1 | 1,172.6 | 1,190.5 | 1,227.5 | 1,260.6 | ||
| Technology & Infrastructure / Other; Sales | Consensus (Median) | 303.0 | 1,126.0 | 300.0 | 1,165.7 | 1,185.7 | 1,197.5 | 1,265.0 |
| Technology & Infrastructure / Other; Sales | Lowest | 265.0 | 1,015.0 | 1,014.0 | 1,120.1 | 1,126.0 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA | Number of Estimates | 8 | 13 | 12 | 9 | 6 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA | Highest | 0.0 | -4.5 | 0.0 | -3.0 | -12.2 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA | Average | -16.3 | -29.0 | -66.4 | -71.7 | -84.6 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA | Consensus (Median) | -36.0 | -57.0 | -15.0 | -27.0 | -40.5 | -35.0 | -38.2 |
| Technology & Infrastructure / Other; Adjusted EBITDA | Lowest | -35.0 | -80.0 | -200.0 | -220.0 | -220.0 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA margin in % | Number of Estimates | 7 | 10 | 10 | 8 | 6 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA margin in % | Highest | 0.0 | -0.4 | -1.0 | -1.0 | -1.0 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA margin in % | Average | -4.6 | -2.9 | -6.0 | -6.6 | -6.8 | ||
| Technology & Infrastructure / Other; Adjusted EBITDA margin in % | Consensus (Median) | -11.9 | -5.1 | -2.6 | -2.8 | -3.4 | -3.0 | -3.0 |
| Technology & Infrastructure / Other; Adjusted EBITDA margin in % | Lowest | -11.3 | -6.7 | -16.2 | -17.3 | -16.8 | ||
| Technology & Infrastructure / Other; Adjusted EBIT | Number of Estimates | 7 | 7 | 6 | 6 | 6 | ||
| Technology & Infrastructure / Other; Adjusted EBIT | Highest | -57.4 | -229.7 | -251.8 | -254.0 | -256.3 | ||
| Technology & Infrastructure / Other; Adjusted EBIT | Average | -71.3 | -269.0 | -320.0 | -328.3 | -330.1 | ||
| Technology & Infrastructure / Other; Adjusted EBIT | Consensus (Median) | -91.0 | -300.0 | -65.0 | -269.0 | -276.9 | -274.2 | -276.0 |
| Technology & Infrastructure / Other; Adjusted EBIT | Lowest | -98.0 | -314.0 | -467.8 | -495.8 | -504.1 |
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.
