Consensus
27 August 2021
| Year | 2021 |
|---|---|
| Quarter | post Q2 results |
| No. of analysts | 7 |
Target price (DKK)
Based on input from 7 analysts
| Average | High | Low |
|---|---|---|
| 3,214 | 3,850 | 2,350 |
Recommendations
| Buy | 2 |
|---|---|
| Overweight | 0 |
| Hold | 4 |
| Underweight | 0 |
| Sell | 1 |
| EPS and Dividend per share in: | EUR |
| Growth in Local Currencies and EBIT margin in: | % |
| All other figures in: | mEUR |
| Average | Estimates | |||
|---|---|---|---|---|
| Year | 2021e | 2022e | 2023e | 2021 Q3e |
| Net sales | 3,034 | 3,193 | 3,415 | - |
| - Insulation segment | 2,226 | 2,337 | 2,519 | - |
| - Systems segment | 811 | 855 | 906 | - |
| Growth in local currencies | 17.7% | 5.2% | 7.1% | - |
| EBITDA | 631 | 672 | 727 | - |
| EBIT Adjusted | 416 | 441 | 487 | - |
| - Insulation segment | 270 | 295 | 332 | - |
| - Systems segment | 148 | 144 | 155 | - |
| Non-recurring items | 0 | 0 | 0 | - |
| EBIT | 416 | 441 | 487 | - |
| EBIT margin | 13.7% | 13.8% | 14.2% | - |
| Profit before tax | 408 | 434 | 480 | - |
| Net profit | 314 | 334 | 370 | - |
| EPS | 14.49 | 15.39 | 17.08 | - |
| Dividend per share | 4.88 | 5.18 | 5.68 | - |
| Net Debt | -156 | -237 | -342 | - |
| High/ low | Estimates | |||
|---|---|---|---|---|
| Year | 2021e | 2022e | 2023e | 2021 Q3e |
| Net sales | 3,007 / 3,086 | 3,117 / 3,273 | 3,302 / 3,632 | - |
| - Insulation segment | 2,175 / 2,313 | 2,262 / 2,446 | 2,366 / 2,715 | - |
| - Systems segment | 729 / 860 | 788 / 929 | 851 / 1,003 | - |
| Growth in local currencies | 16.4% / 19.1% | 3.5% / 7.3% | 3.8% / 15.8% | - |
| EBITDA | 606 / 679 | 637 / 706 | 685 / 774 | - |
| EBIT Adjusted | 401 / 433 | 414 / 473 | 447 / 534 | - |
| - Insulation segment | 259 / 282 | 273 / 333 | 289 / 374 | - |
| - Systems segment | 134 / 162 | 133 / 166 | 145 / 174 | - |
| Non-recurring items | 0 / 0 | 0 / 0 | 0 / 0 | - |
| EBIT | 401 / 433 | 414 / 473 | 447 / 534 | - |
| EBIT margin | 13.3% / 14.1% | 13.3% / 14.5% | 13.3% / 15.0% | - |
| Profit before tax | 393 / 425 | 415 / 465 | 434 / 531 | - |
| Net profit | 302 / 327 | 317 / 358 | 334 / 414 | - |
| EPS | 13.94 / 15.22 | 14.44 / 16.83 | 15.44 / 19.07 | - |
| Dividend per share | 4.35 / 5.90 | 4.76 / 6.01 | 5.18 / 6.17 | - |
| Net Debt | -255 / -89 | -414 / -3 | -622 / 82 | - |
Analysts
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Thomas Harder
Director,
Group Treasury & Investor Relations, ROCKWOOL Group