Financials ING Groep N.V.

Equities

INGA

NL0011821202

Banks

Real-time Euronext Amsterdam Other stock markets 07:27:22 2025-11-18 EST			5-day change	1st Jan Change
21.43 ^EUR	-2.99%		-5.59%	+41.64%

06:19am	ING Enters Deal to Acquire Remaining 55% Stake in Goldman Sachs TFI	MT
05:17am	ECB Sees Eurozone Banks as Robust, But Warns of Risks	DP

Projected Income Statement: ING Groep N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	17,637	18,490	18,561	22,575	22,615	22,595	23,981	25,354
Change	-	4.84%	0.38%	21.63%	0.18%	-0.09%	6.13%	5.72%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	6,484	7,299	7,363	11,011	10,494	10,198	11,144	12,162
Change	-	12.57%	0.88%	49.55%	-4.7%	-2.82%	9.27%	9.14%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	3,809	6,782	5,502	10,492	9,300	8,679	9,612	10,499
Change	-	78.05%	-18.87%	90.69%	-11.36%	-6.68%	10.76%	9.23%
Net income ¹	2,485	4,776	3,674	7,287	6,392	5,795	6,525	7,194
Change	-	92.19%	-23.07%	98.34%	-12.28%	-9.33%	12.59%	10.26%
Announcement Date	2/12/21	2/3/22	2/2/23	2/1/24	2/6/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	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	2027 Q1	2027 Q2
Net sales ¹	4,286	4,169	4,702	4,517	4,648	4,624	4,600	4,682	4,412	4,868	5,567	5,759	5,842	5,408	5,583	5,716	5,909	5,407	5,637	5,702	5,898	5,500	5,861	5,961	6,169	6,156	6,324	6,393
Change	-	-2.73%	12.78%	-3.93%	2.9%	-0.52%	-0.52%	1.78%	-5.77%	10.34%	14.36%	3.45%	1.44%	-7.43%	3.24%	2.38%	3.38%	-8.5%	4.25%	1.15%	3.44%	-6.75%	6.56%	1.7%	3.49%	-0.21%	2.73%	1.09%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,673	1,255	1,686	1,973	1,962	1,677	1,655	1,945	1,783	1,980	3,071	3,133	3,049	2,333	2,551	2,868	3,004	2,070	2,437	2,668	2,886	1,539	-	-	-	-	-	-
Change	-	-24.99%	34.34%	17.02%	-0.56%	-14.53%	-1.31%	17.52%	-8.33%	11.05%	55.1%	2.02%	-2.68%	-23.48%	9.34%	12.43%	4.74%	-31.09%	17.73%	9.48%	8.17%	-46.67%	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,204	1,046	1,463	2,065	1,924	1,331	668	1,743	1,380	1,711	2,344	3,035	2,866	2,247	2,293	2,568	2,668	1,771	2,124	2,369	2,560	1,616	2,206	2,598	2,697	2,216	2,491	2,864
Change	-	-13.12%	39.87%	41.15%	-6.83%	-30.82%	-49.81%	160.93%	-20.83%	23.99%	37%	29.48%	-5.57%	-21.6%	2.05%	11.99%	3.89%	-33.62%	19.93%	11.53%	8.06%	-36.88%	36.5%	17.78%	3.81%	-17.81%	12.39%	14.97%
Net income ¹	788	727	1,005	1,459	1,367	945	429	1,177	979	1,089	1,591	2,155	1,982	1,558	1,578	1,780	1,880	1,154	1,455	1,675	1,787	795.6	1,514	1,788	1,853	1,515	1,707	1,967
Change	-	-7.74%	38.24%	45.17%	-6.31%	-30.87%	-54.6%	174.36%	-16.82%	11.24%	46.1%	35.45%	-8.03%	-21.39%	1.28%	12.8%	5.62%	-38.62%	26.08%	15.12%	6.69%	-55.48%	90.35%	18.04%	3.67%	-18.23%	12.63%	15.25%
Announcement Date	11/5/20	2/12/21	5/6/21	8/6/21	11/4/21	2/3/22	5/6/22	8/4/22	11/3/22	2/2/23	5/11/23	8/3/23	11/2/23	2/1/24	5/2/24	8/1/24	10/31/24	2/6/25	5/2/25	7/31/25	10/30/25	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: ING Groep N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	2/12/21	2/3/22	2/2/23	2/1/24	2/6/25	-	-	-

Estimates

Cash Flow Forecast: ING Groep N.V.

Fiscal Period: December	2019	2020	2021	2022	2023	2024
CAPEX ¹	355	287	184	231	246	332
Change	-	-19.15%	-35.89%	25.54%	6.49%	34.96%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	3/5/20	3/11/21	3/1/22	3/10/23	3/8/24	3/6/25

¹EUR in Million

Estimates

Forecast Financial Ratios: ING Groep N.V.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	36.76%	39.48%	39.67%	48.78%	46.4%	45.14%	46.47%	47.97%
EBT Margin (%)	-	21.6%	36.68%	29.64%	46.48%	41.12%	38.41%	40.08%	41.41%
Net margin (%)	-	14.09%	25.83%	19.79%	32.28%	28.26%	25.65%	27.21%	28.38%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	0.27%	0.51%	0.38%	0.75%	0.64%	0.54%	0.6%	0.63%
ROE	-	4.8%	9.2%	7.2%	14.8%	13%	12.09%	13.49%	14.28%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	0.12	0.89	0.559	1.106	1.06	1.09	1.164	1.307
Change	-	-	641.67%	-37.19%	97.85%	-4.16%	2.81%	6.83%	12.3%
Book Value Per Share ¹	-	14.01	14.28	13.79	15.32	16.25	16.52	17.52	18.72
Change	-	-	1.93%	-3.43%	11.09%	6.07%	1.65%	6.08%	6.85%
EPS ¹	-	0.64	1.23	0.99	2.05	1.98	1.941	2.295	2.606
Change	-	-	92.19%	-19.51%	107.07%	-3.41%	-1.96%	18.2%	13.58%
Nbr of stocks (in thousands)	-	3,900,168	3,807,624	3,583,002	3,367,006	3,101,921	2,915,542	2,915,542	2,915,542
Announcement Date	-	2/12/21	2/3/22	2/2/23	2/1/24	2/6/25	-	-	-