Real-time Estimate
Tradegate
16:55:00 27/06/2024 BST
|
5-day change
|
1st Jan Change
|
18.46
EUR
|
0.00%
|
|
0.00%
|
0.00%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
3,017
|
3,062
|
3,572
|
3,241
|
3,927
|
4,739
|
-
|
-
|
Enterprise Value (EV)
1 |
3,631
|
3,666
|
4,294
|
3,815
|
4,156
|
4,923
|
4,675
|
4,415
|
P/E ratio
|
16.8
x
|
21.5
x
|
21.7
x
|
12.9
x
|
12.7
x
|
16.6
x
|
15.3
x
|
14.1
x
|
Yield
|
2.6%
|
2.55%
|
2.35%
|
2.7%
|
2.38%
|
2.11%
|
2.27%
|
2.5%
|
Capitalization / Revenue
|
0.78
x
|
0.8
x
|
0.85
x
|
0.57
x
|
0.78
x
|
1.33
x
|
1.21
x
|
1.15
x
|
EV / Revenue
|
0.94
x
|
0.96
x
|
1.02
x
|
0.68
x
|
0.83
x
|
1.38
x
|
1.19
x
|
1.07
x
|
EV / EBITDA
|
11.2
x
|
13.4
x
|
12.9
x
|
9.2
x
|
10.6
x
|
10.1
x
|
9.1
x
|
8.14
x
|
EV / FCF
|
26.7
x
|
17.2
x
|
24.7
x
|
16.6
x
|
11.6
x
|
14.4
x
|
13
x
|
11.5
x
|
FCF Yield
|
3.75%
|
5.82%
|
4.04%
|
6.01%
|
8.66%
|
6.93%
|
7.69%
|
8.71%
|
Price to Book
|
1.78
x
|
1.92
x
|
2.09
x
|
1.73
x
|
2.05
x
|
2.31
x
|
2.09
x
|
1.92
x
|
Nbr of stocks (in thousands)
|
295,174
|
293,581
|
286,477
|
271,875
|
263,360
|
259,950
|
-
|
-
|
Reference price
2 |
10.22
|
10.43
|
12.47
|
11.92
|
14.91
|
18.23
|
18.23
|
18.23
|
Announcement Date
|
26/02/20
|
24/02/21
|
03/03/22
|
01/03/23
|
28/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
3,876
|
3,823
|
4,197
|
5,642
|
5,008
|
3,554
|
3,923
|
4,124
|
EBITDA
1 |
324.9
|
273.5
|
333.6
|
414.6
|
391.4
|
485.4
|
513.7
|
542.3
|
EBIT
1 |
215.9
|
148.7
|
206.7
|
272.1
|
317.9
|
357
|
380.9
|
408.9
|
Operating Margin
|
5.57%
|
3.89%
|
4.93%
|
4.82%
|
6.35%
|
10.04%
|
9.71%
|
9.92%
|
Earnings before Tax (EBT)
1 |
199.1
|
154.1
|
158
|
225.3
|
362.2
|
338.1
|
362.8
|
383.2
|
Net income
1 |
180.2
|
143.8
|
167
|
257.6
|
317.9
|
289.3
|
309.9
|
333.9
|
Net margin
|
4.65%
|
3.76%
|
3.98%
|
4.57%
|
6.35%
|
8.14%
|
7.9%
|
8.1%
|
EPS
2 |
0.6092
|
0.4859
|
0.5737
|
0.9224
|
1.177
|
1.095
|
1.188
|
1.293
|
Free Cash Flow
1 |
136.2
|
213.2
|
173.6
|
229.4
|
359.8
|
341.1
|
359.7
|
384.4
|
FCF margin
|
3.51%
|
5.58%
|
4.14%
|
4.07%
|
7.18%
|
9.6%
|
9.17%
|
9.32%
|
FCF Conversion (EBITDA)
|
41.92%
|
77.95%
|
52.04%
|
55.33%
|
91.93%
|
70.27%
|
70.02%
|
70.88%
|
FCF Conversion (Net income)
|
75.58%
|
148.26%
|
103.95%
|
89.05%
|
113.18%
|
117.91%
|
116.07%
|
115.14%
|
Dividend per Share
2 |
0.2662
|
0.2662
|
0.2928
|
0.3221
|
0.3543
|
0.3842
|
0.4139
|
0.4566
|
Announcement Date
|
26/02/20
|
24/02/21
|
03/03/22
|
01/03/23
|
28/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019 S2
|
2020 S1
|
2020 S2
|
2021 S1
|
2021 S2
|
2022 S1
|
2022 S2
|
2023 S1
|
2023 S2
|
2024 S1
|
2024 S2
|
2025 S1
|
2025 S2
|
2026 S1
|
---|
Net sales
1 |
2,117
|
1,837
|
1,986
|
2,042
|
2,155
|
2,829
|
2,814
|
2,771
|
2,450
|
1,703
|
1,886
|
1,823
|
1,901
|
1,925
|
EBITDA
1 |
190.1
|
118.2
|
155.3
|
198.8
|
150.7
|
211.5
|
-
|
-
|
-
|
206.3
|
250.7
|
248
|
269.5
|
268.9
|
EBIT
1 |
133.4
|
54.5
|
94.2
|
159.9
|
110.7
|
135.5
|
136.6
|
158.6
|
-
|
174.3
|
176.6
|
178.1
|
197.4
|
197.1
|
Operating Margin
|
6.3%
|
2.97%
|
4.74%
|
7.83%
|
5.14%
|
4.79%
|
4.85%
|
5.72%
|
-
|
10.24%
|
9.36%
|
9.76%
|
10.39%
|
10.24%
|
Earnings before Tax (EBT)
1 |
107.4
|
58.4
|
95.7
|
93
|
65
|
144.1
|
-
|
214
|
164.7
|
176.4
|
172
|
-
|
-
|
-
|
Net income
1 |
96.9
|
55.3
|
88.5
|
81.3
|
85.7
|
184.3
|
73.3
|
193.4
|
139.4
|
151.9
|
147.9
|
151.1
|
167.9
|
166.5
|
Net margin
|
4.58%
|
3.01%
|
4.46%
|
3.98%
|
3.98%
|
6.52%
|
2.61%
|
6.98%
|
5.69%
|
8.92%
|
7.84%
|
8.29%
|
8.83%
|
8.65%
|
EPS
|
0.3273
|
0.1871
|
0.2988
|
0.2781
|
-
|
0.6547
|
0.2677
|
-
|
-
|
-
|
-
|
0.5840
|
0.6580
|
0.6580
|
Dividend per Share
|
0.1594
|
0.1068
|
0.1594
|
0.1175
|
0.1753
|
0.1293
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Announcement Date
|
26/02/20
|
12/08/20
|
24/02/21
|
12/08/21
|
03/03/22
|
17/08/22
|
01/03/23
|
16/08/23
|
28/02/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
614
|
604
|
722
|
574
|
230
|
184
|
-
|
-
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
64.1
|
324
|
Leverage (Debt/EBITDA)
|
1.891
x
|
2.209
x
|
2.164
x
|
1.385
x
|
0.5866
x
|
0.3783
x
|
-
|
-
|
Free Cash Flow
1 |
136
|
213
|
174
|
229
|
360
|
341
|
360
|
384
|
ROE (net income / shareholders' equity)
|
15.8%
|
13.1%
|
15.1%
|
14.3%
|
16.7%
|
14.9%
|
15.4%
|
15%
|
ROA (Net income/ Total Assets)
|
-
|
-
|
-
|
6.88%
|
8.7%
|
7.73%
|
8.08%
|
8.04%
|
Assets
1 |
-
|
-
|
-
|
3,744
|
3,653
|
3,744
|
3,835
|
4,154
|
Book Value Per Share
2 |
5.750
|
5.450
|
5.950
|
6.880
|
7.290
|
7.890
|
8.710
|
9.480
|
Cash Flow per Share
2 |
0.7200
|
0.9400
|
0.8600
|
1.070
|
1.520
|
1.490
|
1.770
|
2.050
|
Capex
1 |
76.3
|
64.2
|
77.5
|
68.9
|
68.5
|
75.5
|
81.3
|
85.2
|
Capex / Sales
|
1.97%
|
1.68%
|
1.85%
|
1.22%
|
1.37%
|
2.12%
|
2.07%
|
2.07%
|
Announcement Date
|
26/02/20
|
24/02/21
|
03/03/22
|
01/03/23
|
28/02/24
|
-
|
-
|
-
|
Last Close Price
18.23
EUR Average target price
20.73
EUR Spread / Average Target +13.71% Consensus |
1st Jan change
|
Capi.
|
---|
| -3.66% | 22.69B | | +1.69% | 7.41B | | -31.81% | 7.38B | | +3.32% | 6.05B | | -3.40% | 5.35B | | -1.98% | 5.32B | | -15.22% | 4.31B | | -0.28% | 3.72B | | +54.35% | 3.17B |
Dairy Products
|