Last Update: July 20, 2026. Provided by
| KPI | (in Euro m) | FY 2025 | FY 2026 E | FY 2027 E | FY 2028 E |
|---|---|---|---|---|---|
| Adjusted group result after tax | Number of Estimates | 6 | 7 | 6 | |
| Adjusted group result after tax | Highest | 3,104.0 | 4,115.0 | 4,724.0 | |
| Adjusted group result after tax | Consensus | 2,894.0 | 2,663.5 | 3,367.2 | 3,849.0 |
| Adjusted group result after tax | Median | 2,708.5 | 3,334.0 | 3,605.3 | |
| Adjusted group result after tax | Lowest | 2,204.0 | 2,799.0 | 3,186.0 | |
| Net debt | Number of Estimates | 7 | 7 | 6 | |
| Net debt | Highest | 5,061.0 | 5,093.0 | 5,096.0 | |
| Net debt | Consensus | 5,099.0 | 4,921.3 | 4,811.5 | 4,596.9 |
| Net debt | Median | 4,923.0 | 4,782.0 | 4,587.0 | |
| Net debt | Lowest | 4,800.0 | 4,600.0 | 4,237.6 | |
| Dividend per preference share (in Euro) | Number of Estimates | 7 | 7 | 6 | |
| Dividend per preference share (in Euro) | Highest | 1.90 | 2.52 | 3.19 | |
| Dividend per preference share (in Euro) | Consensus | 1.51 | 1.60 | 1.87 | 2.09 |
| Dividend per preference share (in Euro) | Median | 1.61 | 1.88 | 1.83 | |
| Dividend per preference share (in Euro) | Lowest | 1.31 | 1.27 | 1.56 |
| Broker |
|---|
| BaaderEurope/AlphaValue |
| Bank of America |
| Barclays |
| Berenberg |
| Bernstein SG |
| BNP Paribas Exane |
| Deutsche Bank |
| DZ Bank |
| Goldman Sachs |
| Jefferies |
| Kepler Cheuvreux |
| LBBW |
| MP Capital Markets |
| UBS |
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 by various analysts regarding the past and future performance 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.