Half-Year Estimates | Full-Year Estimates | Analyst Coverage

KPI	in CHF mn	H1 2025	H2 2025	H1 2026 E	H2 2026 E
Sales	Number of Estimates			19	19
Sales	Highest			3,697	3,778
Sales	Consensus (Mean)	3,034	3,497	3,415	3,701
Sales	Median			3,400	3,715
Sales	Lowest			3,286	3,588
Sales growth (in %)	Number of Estimates			19	19
Sales growth (in %)	Highest			21.9	7.9
Sales growth (in %)	Consensus (Mean)	-	17.3	12.6	5.8
Sales growth (in %)	Median			12.1	6.2
Sales growth (in %)	Lowest			8.4	2.5
Growth at CER (in %)	Number of Estimates			18	18
Growth at CER (in %)	Highest			19.0	10.5
Growth at CER (in %)	Consensus (Mean)	-	20.4	16.5	7.5
Growth at CER (in %)	Median			16.6	7.7
Growth at CER (in %)	Lowest			13.4	4.0
CORE EBITDA	Number of Estimates			19	19
CORE EBITDA	Highest			1,177	1,218
CORE EBITDA	Consensus (Mean)	922	1,142	1,132	1,172
CORE EBITDA	Median			1,134	1,174
CORE EBITDA	Lowest			1,084	1,134
CORE EBITDA margin (in %)	Number of Estimates			19	19
CORE EBITDA margin (in %)	Highest			33.8	32.5
CORE EBITDA margin (in %)	Consensus (Mean)	30.4	32.7	33.1	31.7
CORE EBITDA margin (in %)	Median			33.2	31.7
CORE EBITDA margin (in %)	Lowest			31.8	30.9
continuing CORE net income	Number of Estimates			16	16
continuing CORE net income	Highest			692	689
continuing CORE net income	Consensus (Mean)	-	-	611	628
continuing CORE net income	Median			605	625
continuing CORE net income	Lowest			564	535
continuing CORE EPS diluted (in CHF)	Number of Estimates			16	16
continuing CORE EPS diluted (in CHF)	Highest			9.89	9.96
continuing CORE EPS diluted (in CHF)	Consensus (Mean)	6.44	-	8.72	8.99
continuing CORE EPS diluted (in CHF)	Median			8.63	8.91
continuing CORE EPS diluted (in CHF)	Lowest			8.03	7.70
continuing EPS reported diluted (in CHF)	Number of Estimates			16	16
continuing EPS reported diluted (in CHF)	Highest			9.31	9.77
continuing EPS reported diluted (in CHF)	Consensus (Mean)	5.68	-	7.83	8.52
continuing EPS reported diluted (in CHF)	Median			7.88	8.43
continuing EPS reported diluted (in CHF)	Lowest			6.30	7.32
Operating Cash Flow incl. discont operations	Number of Estimates			5	5
Operating Cash Flow incl. discont operations	Highest			881	932
Operating Cash Flow incl. discont operations	Consensus (Mean)	-	-	804	876
Operating Cash Flow incl. discont operations	Median			840	878
Operating Cash Flow incl. discont operations	Lowest			683	839
Capex (excluding acquisitions) incl. discont operations	Number of Estimates			6	6
Capex (excluding acquisitions) incl. discont operations	Highest			703	742
Capex (excluding acquisitions) incl. discont operations	Consensus (Mean)	-	-	638	689
Capex (excluding acquisitions) incl. discont operations	Median			654	699
Capex (excluding acquisitions) incl. discont operations	Lowest			530	607

CORE Definition

Lonza believes that disclosing CORE results of the Group´s performance enhances the financial markets´ understanding of our company because the CORE results enable better comparison across years.

Therefore, the CORE results exclude exceptional items such as restructuring charges, acquisition-related costs, environmental-remediation costs, impairments and amortization of acquisition-related intangible assets, which can differ significantly from year to year. For this same reason, Lonza uses these CORE results in addition to IFRS as important factors in internally assessing the Group´s performance.

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Disclaimer

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.