| KPI | [EUR m] | Q1 2025 | Q2 2025 | FY 2025 | Q1 2026 E | Q2 2026 E | FY 2026 E | FY 2027 E | FY 2028 E |
|---|---|---|---|---|---|---|---|---|---|
| Europe total, Stainless steel deliveries | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Europe total, Stainless steel deliveries | Highest | 318.0 | 331.0 | 1,303.0 | 1,407.0 | 1,421.0 | |||
| Europe total, Stainless steel deliveries | Average | 301.1 | 323.3 | 1,236.3 | 1,305.5 | 1,319.3 | |||
| Europe total, Stainless steel deliveries | Consensus (Median) | 318.0 | 324.0 | 1,148.0 | 301.5 | 324.1 | 1,228.3 | 1,307.5 | 1,314.0 |
| Europe total, Stainless steel deliveries | Lowest | 289.9 | 310.2 | 1,197.2 | 1,246.0 | 1,259.0 | |||
| Europe total, Sales | Number of Estimates | 9 | 9 | 9 | 9 | 8 | |||
| Europe total, Sales | Highest | 1,017.0 | 1,143.0 | 4,228.0 | 4,684.0 | 4,845.0 | |||
| Europe total, Sales | Average | 939.5 | 1,060.4 | 4,070.3 | 4,487.5 | 4,621.2 | |||
| Europe total, Sales | Consensus (Median) | 1,050.0 | 1,014.0 | 3,600.0 | 932.0 | 1,047.0 | 4,080.0 | 4,475.0 | 4,665.3 |
| Europe total, Sales | Lowest | 881.0 | 988.0 | 3,792.0 | 4,284.0 | 4,370.0 | |||
| Europe, Adjusted EBITDA | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Europe, Adjusted EBITDA | Highest | 43.0 | 55.0 | 204.0 | 434.0 | 439.0 | |||
| Europe, Adjusted EBITDA | Average | 10.9 | 34.8 | 140.4 | 251.5 | 278.7 | |||
| Europe, Adjusted EBITDA | Consensus (Median) | 6.0 | 16.0 | -46.0 | 8.2 | 30.1 | 133.7 | 235.5 | 269.0 |
| Europe, Adjusted EBITDA | Lowest | 0.4 | 23.0 | 85.5 | 175.0 | 179.0 | |||
| Europe, Adjusted EBIT | Number of Estimates | 5 | 5 | 5 | 5 | 5 | |||
| Europe, Adjusted EBIT | Highest | -15.0 | 13.1 | 33.0 | 165.0 | 200.0 | |||
| Europe, Adjusted EBIT | Average | -20.9 | 4.6 | 10.4 | 135.9 | 171.3 | |||
| Europe, Adjusted EBIT | Consensus (Median) | -22.0 | -13.0 | -160.0 | -20.2 | 2.8 | 13.0 | 142.4 | 157.8 |
| Europe, Adjusted EBIT | Lowest | -26.0 | -2.9 | -26.2 | 111.0 | 149.0 | |||
| Americas total, Stainless steel deliveries | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Americas total, Stainless steel deliveries | Highest | 168.5 | 174.0 | 656.0 | 670.0 | 696.2 | |||
| Americas total, Stainless steel deliveries | Average | 160.8 | 168.0 | 638.0 | 653.2 | 662.3 | |||
| Americas total, Stainless steel deliveries | Consensus (Median) | 156.0 | 166.0 | 622.0 | 160.3 | 168.5 | 636.0 | 652.5 | 658.0 |
| Americas total, Stainless steel deliveries | Lowest | 156.0 | 162.0 | 624.0 | 633.0 | 642.0 | |||
| Americas total, Sales | Number of Estimates | 9 | 9 | 9 | 9 | 8 | |||
| Americas total, Sales | Highest | 511.0 | 519.5 | 2,034.4 | 2,077.0 | 2,135.8 | |||
| Americas total, Sales | Average | 448.2 | 467.6 | 1,791.7 | 1,850.2 | 1,878.2 | |||
| Americas total, Sales | Consensus (Median) | 423.0 | 427.0 | 1,676.0 | 457.0 | 467.7 | 1,766.7 | 1,833.0 | 1,858.0 |
| Americas total, Sales | Lowest | 394.0 | 420.0 | 1,584.0 | 1,605.0 | 1,666.0 | |||
| Americas, Adjusted EBITDA | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Americas, Adjusted EBITDA | Highest | 45.7 | 54.0 | 175.0 | 186.0 | 208.0 | |||
| Americas, Adjusted EBITDA | Average | 36.7 | 43.6 | 153.8 | 167.2 | 171.4 | |||
| Americas, Adjusted EBITDA | Consensus (Median) | 11.0 | 29.0 | 102.0 | 37.0 | 42.7 | 161.8 | 171.5 | 163.0 |
| Americas, Adjusted EBITDA | Lowest | 23.1 | 33.1 | 105.2 | 129.8 | 150.9 | |||
| Americas, Adjusted EBIT | Number of Estimates | 5 | 5 | 5 | 5 | 5 | |||
| Americas, Adjusted EBIT | Highest | 37.1 | 40.8 | 134.0 | 140.3 | 132.4 | |||
| Americas, Adjusted EBIT | Average | 26.8 | 30.4 | 110.6 | 122.9 | 121.9 | |||
| Americas, Adjusted EBIT | Consensus (Median) | 2.0 | 21.0 | 67.0 | 26.0 | 29.0 | 115.0 | 129.0 | 122.0 |
| Americas, Adjusted EBIT | Lowest | 13.5 | 22.8 | 67.3 | 90.1 | 109.5 | |||
| Ferrochrome, Deliveries | Number of Estimates | 7 | 7 | 7 | 7 | 6 | |||
| Ferrochrome, Deliveries | Highest | 115.0 | 115.0 | 460.0 | 510.0 | 510.0 | |||
| Ferrochrome, Deliveries | Average | 105.4 | 107.5 | 430.9 | 456.5 | 468.1 | |||
| Ferrochrome, Deliveries | Consensus (Median) | 95.0 | 101.0 | 395.0 | 105.0 | 106.0 | 425.0 | 448.0 | 464.5 |
| Ferrochrome, Deliveries | Lowest | 100.0 | 104.0 | 416.0 | 432.5 | 432.5 | |||
| Ferrochrome, Sales | Number of Estimates | 9 | 9 | 9 | 9 | 8 | |||
| Ferrochrome, Sales | Highest | 136.6 | 158.0 | 596.0 | 671.0 | 709.0 | |||
| Ferrochrome, Sales | Average | 124.7 | 131.0 | 518.1 | 559.6 | 576.1 | |||
| Ferrochrome, Sales | Consensus (Median) | 118.0 | 119.0 | 462.0 | 123.0 | 126.0 | 506.0 | 552.8 | 555.3 |
| Ferrochrome, Sales | Lowest | 116.6 | 121.0 | 475.2 | 504.0 | 504.0 | |||
| Ferrochrome, Adjusted EBITDA | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Ferrochrome, Adjusted EBITDA | Highest | 40.0 | 68.0 | 166.0 | 275.0 | 299.0 | |||
| Ferrochrome, Adjusted EBITDA | Average | 34.2 | 39.8 | 143.0 | 166.6 | 175.6 | |||
| Ferrochrome, Adjusted EBITDA | Consensus (Median) | 43.0 | 32.0 | 138.0 | 35.3 | 35.4 | 139.8 | 147.6 | 158.1 |
| Ferrochrome, Adjusted EBITDA | Lowest | 23.0 | 29.0 | 119.0 | 135.3 | 111.5 | |||
| Ferrochrome, Adjusted EBIT | Number of Estimates | 5 | 5 | 5 | 5 | 5 | |||
| Ferrochrome, Adjusted EBIT | Highest | 27.2 | 29.5 | 105.0 | 155.0 | 161.0 | |||
| Ferrochrome, Adjusted EBIT | Average | 24.4 | 25.4 | 92.5 | 104.7 | 107.5 | |||
| Ferrochrome, Adjusted EBIT | Consensus (Median) | 29.0 | 19.0 | 86.0 | 24.7 | 25.5 | 95.3 | 88.4 | 100.3 |
| Ferrochrome, Adjusted EBIT | Lowest | 20.0 | 20.0 | 81.9 | 85.0 | 64.5 | |||
| Other operations & Eliminations Adjusted EBITDA | Number of Estimates | 8 | 8 | 8 | 8 | 7 | |||
| Other operations & Eliminations Adjusted EBITDA | Highest | -6.0 | -7.0 | -25.0 | -28.0 | -29.0 | |||
| Other operations & Eliminations Adjusted EBITDA | Average | -9.3 | -9.2 | -36.5 | -39.3 | -40.0 | |||
| Other operations & Eliminations Adjusted EBITDA | Consensus (Median) | -11.0 | -3.0 | -27.0 | -9.0 | -9.0 | -35.0 | -37.5 | -40.0 |
| Other operations & Eliminations Adjusted EBITDA | Lowest | -12.0 | -12.0 | -48.0 | -56.0 | -56.0 | |||
| Other operations & Eliminations, Adjusted EBIT | Number of Estimates | 5 | 5 | 5 | 5 | 5 | |||
| Other operations & Eliminations, Adjusted EBIT | Highest | -10.0 | -10.0 | -40.0 | -35.0 | -40.0 | |||
| Other operations & Eliminations, Adjusted EBIT | Average | -13.0 | -13.0 | -51.8 | -54.8 | -55.8 | |||
| Other operations & Eliminations, Adjusted EBIT | Consensus (Median) | -14.0 | -6.0 | -41.0 | -12.0 | -12.0 | -48.0 | -56.0 | -56.0 |
| Other operations & Eliminations, Adjusted EBIT | Lowest | -15.8 | -15.8 | -63.0 | -71.0 | -71.0 |
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.
