Note - EPS & DPS actuals in 2025 have been adjusted for the 3:1 share split (end Q1 2026).
Note - EPS & DPS actuals in 2025 have been adjusted for the 3:1 share split (end Q1 2026).
| KPI | [EUR m] | Q2 2025 | FY 2025 | Q2 2026 E | Q3 2026 E | FY 2026 E | FY 2027 E | FY 2028 E |
|---|---|---|---|---|---|---|---|---|
| Orders Received | Number of Estimates | 7 | 7 | 7 | 7 | 7 | ||
| Orders Received | Highest | 1,177.0 | 1,220.0 | 4,678.0 | 5,062.0 | 5,488.0 | ||
| Orders Received | Mean | 1,091.8 | 1,145.1 | 4,465.1 | 4,721.1 | 4,958.5 | ||
| Orders Received | Consensus (Median) | 1,096.8 | 4,389.3 | 1,077.0 | 1,137.0 | 4,452.0 | 4,672.0 | 4,881.0 |
| Orders Received | Lowest | 1,044.8 | 1,099.5 | 4,315.1 | 4,584.0 | 4,710.0 | ||
| Sales total | Number of Estimates | 7 | 7 | 7 | 7 | 7 | ||
| Sales total | Highest | 1,117.0 | 1,093.0 | 4,403.0 | 4,957.0 | 5,291.0 | ||
| Sales total | Mean | 1,093.5 | 1,065.9 | 4,300.0 | 4,578.5 | 4,791.0 | ||
| Sales total | Consensus (Median) | 1,052.4 | 4,187.8 | 1,094.0 | 1,057.0 | 4,300.0 | 4,539.0 | 4,747.0 |
| Sales total | Lowest | 1,054.0 | 1,037.1 | 4,240.3 | 4,426.0 | 4,561.0 | ||
| Comparable EBITDA | Number of Estimates | 7 | 7 | 7 | 6 | 6 | ||
| Comparable EBITDA | Highest | 199.0 | 198.0 | 743.0 | 856.0 | 921.0 | ||
| Comparable EBITDA | Mean | 180.2 | 187.2 | 705.5 | 769.7 | 812.3 | ||
| Comparable EBITDA | Consensus (Median) | 175.1 | 690.3 | 179.1 | 189.3 | 701.0 | 752.1 | 794.0 |
| Comparable EBITDA | Lowest | 169.7 | 175.5 | 682.9 | 738.0 | 774.0 | ||
| Comparable EBITA | Number of Estimates | 7 | 7 | 7 | 7 | 7 | ||
| Comparable EBITA | Highest | 172.0 | 171.0 | 637.0 | 746.0 | 811.0 | ||
| Comparable EBITA | Mean | 154.4 | 161.5 | 602.1 | 666.3 | 713.9 | ||
| Comparable EBITA | Consensus (Median) | 150.3 | 588.1 | 153.9 | 164.1 | 600.0 | 658.4 | 701.0 |
| Comparable EBITA | Lowest | 142.0 | 147.7 | 571.9 | 636.0 | 672.0 | ||
| Comparable EBIT | Number of Estimates | 7 | 7 | 7 | 7 | 7 | ||
| Comparable EBIT | Highest | 164.0 | 163.0 | 604.0 | 713.0 | 778.0 | ||
| Comparable EBIT | Mean | 146.1 | 153.2 | 568.6 | 634.0 | 682.7 | ||
| Comparable EBIT | Consensus (Median) | 141.6 | 553.4 | 145.2 | 155.4 | 567.0 | 629.0 | 666.8 |
| Comparable EBIT | Lowest | 133.8 | 139.6 | 539.4 | 604.0 | 642.0 | ||
| Items Affecting Comparability | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| Items Affecting Comparability | Highest | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Items Affecting Comparability | Mean | -0.3 | -0.3 | -2.3 | -1.0 | -1.0 | ||
| Items Affecting Comparability | Consensus (Median) | -4.7 | -11.0 | 0.0 | 0.0 | -1.5 | 0.0 | 0.0 |
| Items Affecting Comparability | Lowest | -1.8 | -1.8 | -7.0 | -6.0 | -6.0 | ||
| Reported operating profit | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| Reported operating profit | Highest | 164.0 | 163.0 | 602.5 | 713.0 | 778.0 | ||
| Reported operating profit | Mean | 145.8 | 153.0 | 566.9 | 636.8 | 687.4 | ||
| Reported operating profit | Consensus (Median) | 136.9 | 542.4 | 143.9 | 155.3 | 562.5 | 630.2 | 668.7 |
| Reported operating profit | Lowest | 133.8 | 139.6 | 539.4 | 598.0 | 636.0 | ||
| Profit before taxes | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| Profit before taxes | Highest | 159.0 | 158.0 | 584.0 | 693.0 | 758.0 | ||
| Profit before taxes | Mean | 141.6 | 149.1 | 550.7 | 622.0 | 674.2 | ||
| Profit before taxes | Consensus (Median) | 132.6 | 516.5 | 140.5 | 151.6 | 554.4 | 613.7 | 661.8 |
| Profit before taxes | Lowest | 127.1 | 132.8 | 512.7 | 586.0 | 623.0 | ||
| Net profit after minorities for the period | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| Net profit after minorities for the period | Highest | 120.8 | 120.1 | 443.8 | 525.5 | 574.9 | ||
| Net profit after minorities for the period | Mean | 107.0 | 112.8 | 414.2 | 468.8 | 508.6 | ||
| Net profit after minorities for the period | Consensus (Median) | 100.4 | 399.8 | 106.1 | 114.5 | 415.0 | 461.8 | 498.2 |
| Net profit after minorities for the period | Lowest | 95.3 | 99.6 | 379.4 | 439.0 | 468.0 | ||
| Number of shares outstanding, basic (in million) | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| Number of shares outstanding, basic (in million) | Highest | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 | ||
| Number of shares outstanding, basic (in million) | Mean | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 | ||
| Number of shares outstanding, basic (in million) | Consensus (Median) | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 |
| Number of shares outstanding, basic (in million) | Lowest | 237.64 | 237.64 | 237.64 | 237.64 | 237.64 | ||
| EPS, basic (in Euro) | Number of Estimates | 6 | 6 | 6 | 6 | 6 | ||
| EPS, basic (in Euro) | Highest | 0.51 | 0.51 | 1.87 | 2.21 | 2.42 | ||
| EPS, basic (in Euro) | Mean | 0.45 | 0.47 | 1.74 | 1.97 | 2.14 | ||
| EPS, basic (in Euro) | Consensus (Median) | 0.42 | 1.68 | 0.45 | 0.48 | 1.75 | 1.94 | 2.10 |
| EPS, basic (in Euro) | Lowest | 0.40 | 0.42 | 1.60 | 1.85 | 1.97 | ||
| DPS (in Euro) | Number of Estimates | - | - | 7 | 7 | 7 | ||
| DPS (in Euro) | Highest | - | - | 0.85 | 1.00 | 1.17 | ||
| DPS (in Euro) | Mean | - | - | 0.82 | 0.91 | 1.00 | ||
| DPS (in Euro) | Consensus (Median) | - | 0.75 | - | - | 0.83 | 0.92 | 1.00 |
| DPS (in Euro) | Lowest | - | - | 0.78 | 0.82 | 0.85 |
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.