Real-time Estimate
Cboe Europe
05:00:21 2025-02-11 am EST
|
5-day change
|
1st Jan Change
|
104.05 DKK
|
+0.53%
|
|
+3.02%
|
+6.14%
|
 Fiscal Period: December |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Net sales
1 |
14,819
|
15,587
|
14,486
|
15,382
|
17,295
|
19,282
|
21,414
|
22,714
|
Change
|
-
|
5.18%
|
-7.06%
|
6.19%
|
12.44%
|
11.49%
|
11.06%
|
6.07%
|
EBITDA
1 |
1,391
|
1,382
|
-63
|
1,028
|
1,605
|
2,169
|
2,759
|
3,143
|
Change
|
-
|
-0.65%
|
-
|
-
|
56.13%
|
35.12%
|
27.21%
|
13.94%
|
EBIT
1 |
750
|
461
|
-1,152
|
231
|
741
|
1,172
|
1,736
|
2,023
|
Change
|
-
|
-38.53%
|
-
|
-
|
220.78%
|
58.19%
|
48.07%
|
16.58%
|
Interest Paid
1 |
-95
|
-101
|
-110
|
-164
|
-86
|
-131.5
|
-132.9
|
-127.7
|
Earnings before Tax (EBT)
1 |
934
|
257
|
-1,696
|
102
|
705
|
1,092
|
1,637
|
1,956
|
Change
|
-
|
-72.48%
|
-
|
-
|
591.18%
|
54.93%
|
49.83%
|
19.52%
|
Net income
1 |
765
|
167
|
-1,572
|
77
|
499
|
819.1
|
1,213
|
1,457
|
Change
|
-
|
-78.17%
|
-
|
-
|
548.05%
|
64.16%
|
48.12%
|
20.1%
|
Announcement Date
|
2/10/21
|
2/10/22
|
2/8/23
|
2/7/24
|
2/5/25
|
-
|
-
|
-
|
 Fiscal Period: December |
2020 Q1
|
2020 Q2
|
2020 Q3
|
2020 Q4
|
2021 Q1
|
2021 Q2
|
2021 Q3
|
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
2025 Q3
|
2025 Q4
|
2026 Q1
|
2026 Q2
|
2026 Q3
|
2026 Q4
|
---|
Net sales
1 |
2,235
|
3,541
|
4,770
|
4,273
|
1,962
|
3,536
|
5,538
|
4,551
|
2,485
|
3,305
|
3,913
|
4,783
|
2,829
|
3,429
|
4,353
|
4,771
|
2,681
|
3,296
|
5,177
|
6,141
|
3,280
|
4,088
|
5,524
|
6,464
|
3,749
|
5,425
|
5,574
|
7,278
|
Change
|
-
|
58.43%
|
34.71%
|
-10.42%
|
-54.08%
|
80.22%
|
56.62%
|
-17.82%
|
-45.4%
|
33%
|
18.4%
|
22.23%
|
-40.85%
|
21.21%
|
26.95%
|
9.6%
|
-43.81%
|
22.94%
|
57.07%
|
18.62%
|
-46.59%
|
24.65%
|
35.12%
|
17.01%
|
-42%
|
44.71%
|
2.76%
|
30.56%
|
EBITDA
1 |
97
|
188
|
575
|
531
|
136
|
321
|
567
|
358
|
-20
|
41
|
101
|
-185
|
236
|
132
|
264
|
396
|
131
|
40
|
444
|
990
|
257
|
396.3
|
601.1
|
1,027
|
346.6
|
576.3
|
754
|
1,369
|
Change
|
-
|
93.81%
|
205.85%
|
-7.65%
|
-74.39%
|
136.03%
|
76.64%
|
-36.86%
|
-
|
-
|
146.34%
|
-
|
-
|
-44.07%
|
100%
|
50%
|
-66.92%
|
-69.47%
|
1,010%
|
122.97%
|
-74.04%
|
54.18%
|
51.69%
|
70.84%
|
-66.25%
|
66.26%
|
30.82%
|
81.64%
|
EBIT
1 |
-54
|
34
|
412
|
358
|
-71
|
101
|
325
|
106
|
-329
|
-182
|
-127
|
-514
|
40
|
-70
|
70
|
191
|
-68
|
-185
|
235
|
759
|
34.73
|
105.5
|
296.8
|
660.8
|
97.63
|
352.2
|
541.2
|
1,120
|
Change
|
-
|
-
|
1,111.76%
|
-13.11%
|
-
|
-
|
221.78%
|
-67.38%
|
-
|
-44.68%
|
-30.22%
|
304.72%
|
-
|
-
|
-
|
172.86%
|
-
|
172.06%
|
-
|
222.98%
|
-95.42%
|
203.8%
|
181.32%
|
122.68%
|
-85.23%
|
260.77%
|
53.63%
|
106.96%
|
Charge d'intérêts
1 |
-2
|
-35
|
-28
|
-30
|
-18
|
-12
|
-40
|
-31
|
6
|
-6
|
-65
|
-45
|
-34
|
-58
|
-32
|
-40
|
-35
|
-53
|
-36
|
38
|
-33
|
-33
|
-32
|
-32
|
-
|
-
|
-
|
-
|
Earnings before Tax (EBT)
1 |
-107
|
-7
|
391
|
657
|
-77
|
122
|
170
|
42
|
-889
|
-139
|
-171
|
-480
|
31
|
-130
|
28
|
173
|
-105
|
-230
|
184
|
856
|
38.5
|
83.5
|
290
|
583.5
|
87.1
|
345.2
|
534.1
|
1,113
|
Change
|
-
|
-93.46%
|
-
|
68.03%
|
-
|
-
|
39.34%
|
-75.29%
|
-
|
-84.36%
|
23.02%
|
180.7%
|
-
|
-
|
-
|
517.86%
|
-
|
119.05%
|
-
|
365.22%
|
-95.5%
|
116.88%
|
247.31%
|
101.21%
|
-85.07%
|
296.28%
|
54.73%
|
108.38%
|
Net income
1 |
-75
|
-7
|
284
|
563
|
-61
|
89
|
122
|
17
|
-765
|
-119
|
-147
|
-541
|
15
|
-115
|
29
|
148
|
-75
|
-156
|
127
|
603
|
28.5
|
65
|
223
|
420.5
|
128
|
-
|
-
|
-
|
Change
|
-
|
-90.67%
|
-
|
98.24%
|
-
|
-
|
37.08%
|
-86.07%
|
-
|
-84.44%
|
23.53%
|
268.03%
|
-
|
-
|
-
|
410.34%
|
-
|
108%
|
-
|
374.8%
|
-95.27%
|
128.07%
|
243.08%
|
88.57%
|
-69.56%
|
-100%
|
-
|
-
|
Announcement Date
|
5/5/20
|
8/11/20
|
11/4/20
|
2/10/21
|
5/5/21
|
8/11/21
|
11/3/21
|
2/10/22
|
5/1/22
|
8/10/22
|
11/2/22
|
2/8/23
|
5/10/23
|
8/9/23
|
11/8/23
|
2/7/24
|
5/2/24
|
8/14/24
|
11/5/24
|
2/5/25
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
 Fiscal Period: December |
2021 S1
|
2022 S1
|
2023 S1
|
2024 S1
|
---|
Net sales
1 |
5,498
|
5,790
|
6,258
|
5,977
|
Change
|
-
|
5.31%
|
8.08%
|
-4.49%
|
EBITDA
|
-
|
-
|
-
|
-
|
Change
|
-
|
-
|
-
|
-
|
EBIT
1 |
30
|
-511
|
-30
|
-253
|
Change
|
-
|
-
|
-94.13%
|
743.33%
|
Charge d'intérêts
1 |
-30
|
-
|
-
|
-88
|
Earnings before Tax (EBT)
1 |
-
|
-1,028
|
-99
|
-335
|
Change
|
-
|
-
|
-90.37%
|
238.38%
|
Net income
1 |
28
|
-884
|
-99
|
-231
|
Change
|
-
|
-
|
-88.8%
|
133.33%
|
Announcement Date
|
8/11/21
|
8/10/22
|
8/9/23
|
8/14/24
|
 Fiscal Period: December |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Net Debt
1 |
-1,920
|
-1,200
|
49
|
69
|
-
|
-1,065
|
-1,712
|
-2,544
|
Change
|
-
|
-162.5%
|
-95.92%
|
40.82%
|
-
|
-
|
-260.75%
|
-248.6%
|
Announcement Date
|
2/10/21
|
2/10/22
|
2/8/23
|
2/7/24
|
2/5/25
|
-
|
-
|
-
|
Fiscal Period: December |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
CAPEX
1 |
688
|
876
|
819
|
892
|
1,155
|
1,208
|
1,171
|
1,167
|
Change
|
-
|
27.33%
|
-6.51%
|
8.91%
|
29.48%
|
4.62%
|
-3.12%
|
-0.33%
|
Free Cash Flow (FCF)
1 |
364
|
57
|
-874
|
245
|
991
|
747.3
|
1,121
|
1,276
|
Change
|
-
|
-84.34%
|
-1,633.33%
|
-128.03%
|
304.49%
|
-24.59%
|
49.98%
|
13.84%
|
Announcement Date
|
2/10/21
|
2/10/22
|
2/8/23
|
2/7/24
|
2/5/25
|
-
|
-
|
-
|
Fiscal Period: December |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Profitability
| | | | | | | | |
---|
EBITDA Margin (%)
|
9.39%
|
8.87%
|
-0.43%
|
6.68%
|
9.28%
|
11.25%
|
12.88%
|
13.84%
|
EBIT Margin (%)
|
5.06%
|
2.96%
|
-7.95%
|
1.5%
|
4.28%
|
6.08%
|
8.11%
|
8.91%
|
EBT Margin (%)
|
6.3%
|
1.65%
|
-11.71%
|
0.66%
|
4.08%
|
5.66%
|
7.64%
|
8.61%
|
Net margin (%)
|
5.16%
|
1.07%
|
-10.85%
|
0.5%
|
2.89%
|
4.25%
|
5.67%
|
6.42%
|
FCF margin (%)
|
2.46%
|
0.37%
|
-6.03%
|
1.59%
|
5.73%
|
3.88%
|
5.23%
|
5.62%
|
FCF / Net Income (%)
|
47.58%
|
34.13%
|
55.6%
|
318.18%
|
198.6%
|
91.23%
|
92.37%
|
87.56%
|
Profitability
| | | | | | | | |
---|
ROA
|
4.71%
|
0.88%
|
-7.91%
|
0.36%
|
2.12%
|
3.1%
|
3.92%
|
4.79%
|
ROE
|
21.4%
|
3.6%
|
-43.9%
|
2.6%
|
15.22%
|
20.38%
|
25.84%
|
24.93%
|
Financial Health
| | | | | | | | |
---|
Leverage (Debt/EBITDA)
|
-
|
-
|
-0.78x
|
0.07x
|
-
|
-
|
-
|
-
|
Debt / Free cash flow
|
-
|
-
|
-0.06x
|
0.28x
|
-
|
-
|
-
|
-
|
Capital Intensity
| | | | | | | | |
---|
CAPEX / Current Assets (%)
|
4.64%
|
5.62%
|
5.65%
|
5.8%
|
6.68%
|
6.27%
|
5.47%
|
5.14%
|
CAPEX / EBITDA (%)
|
49.46%
|
63.39%
|
-1,300%
|
86.77%
|
71.96%
|
55.72%
|
42.44%
|
37.12%
|
CAPEX / FCF (%)
|
189.01%
|
1,536.84%
|
-93.71%
|
364.08%
|
116.55%
|
161.7%
|
104.45%
|
91.45%
|
Items per share
| | | | | | | | |
---|
Cash flow per share
1 |
0.7559
|
0.9881
|
-0.1938
|
1.017
|
2.309
|
1.647
|
2.09
|
2.251
|
Change
|
-
|
30.72%
|
-119.61%
|
-624.77%
|
127%
|
-28.67%
|
26.93%
|
7.71%
|
Dividend per Share
1 |
0.228
|
0.05
|
-
|
-
|
0.1
|
0.1919
|
0.3212
|
0.3954
|
Change
|
-
|
-78.07%
|
-
|
-
|
-
|
91.93%
|
67.36%
|
23.1%
|
Book Value Per Share
1 |
4.634
|
4.7
|
3
|
3
|
3.494
|
4.112
|
4.978
|
6.138
|
Change
|
-
|
1.43%
|
-36.17%
|
0%
|
16.45%
|
17.71%
|
21.04%
|
23.32%
|
EPS
1 |
0.778
|
0.17
|
-1.56
|
0.08
|
0.49
|
0.8146
|
1.219
|
1.454
|
Change
|
-
|
-78.15%
|
-1,017.65%
|
-105.13%
|
512.5%
|
66.25%
|
49.68%
|
19.25%
|
Nbr of stocks (in thousands)
|
1,004,375
|
1,004,401
|
1,005,144
|
1,009,189
|
1,009,046
|
1,005,763
|
1,005,763
|
1,005,763
|
Announcement Date
|
2/10/21
|
2/10/22
|
2/8/23
|
2/7/24
|
2/5/25
|
-
|
-
|
-
|
| 2025 * | 2026 * |
---|
P/E ratio |
17x |
11.4x |
---|
PBR |
3.38x |
2.79x |
---|
EV / Sales |
0.67x |
0.57x |
---|
Yield |
1.38% |
2.31% |
---|
Last Close Price 13.88EUR Average target price 20.94EUR Spread / Average Target +50.86% Consensus
|