Aryzta AG — Management Reports 2024

Apr 9, 2024

	2024	2025
	EURm	EURm
Revenue mean	2,257.2	2,339.4
Revenue (Low-High)	2,247.5 - 2,263.1	2,306.2 - 2,368.5
Organic Growth mean	3.0%	3.7%
Organic Growth (Low-High)	2.5% - 3.5%	2.6% - 4.9%
EBITDA mean	320.5	338.4
EBITDA (Low-High)	316.6 - 323.3	327.4 - 344.1
Margin mean	14.2%	14.5%
Margin (Low-High)	14.1% - 14.3%	14.2% - 14.6%
Total Net debt mean	878.1	750.3
Total Net Debt (Low-High)	837.7 - 906.0	695.3 - 802.0

Consensus published on April 9, 2024 is based on estimates submitted by the broker analysts from Baader Helvea, Stifel, UBS, Vontobel and ZKB. Consensus for the calendar years 2024 and 2025 is based on five estimates. Consensus will be updated as new data is received.