Aryzta AG

Earnings Release • Mar 31, 2025

	2025	2026
	EURm	EURm
Revenue mean	2,258.1	2,332.3
Revenue (Low‐High)	2,238 ‐ 2,274.4	2,291 ‐ 2,365.3
Organic Growth mean	2.8%	3.3%
Organic Growth (Low‐High)	2% ‐ 3.4%	2.2% ‐ 4%
EBITDA mean	333.7	348.9
EBITDA (Low‐High)	331 ‐ 336.9	341 ‐ 353.8
Margin mean	14.8%	15.0%
Margin (Low‐High)	14.7% ‐ 14.8%	14.9% ‐ 15.1%
Total Net debt mean	782.6	660.0
Total Net Debt (Low‐High)	757.1 ‐ 823	615.4 ‐ 701.1

Consensus published on March 31, 2025 is based on estimates submitted by the broker analysts from Baader Helvea, Kepler Cheuvreux, ODDO BHF, UBS, Vontobel and ZKB. Consensus for the calendar years 2025 and 2026 is based on six estimates. Consensus will be updated as new data is received.