KALU Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	2.48B EUR	3.2B EUR	1.97B EUR	1.86B EUR
Enterprise Value	3.44B EUR	4.21B EUR	3.01B EUR	2.94B EUR
Valuation Multiples
Trailing P/E	11.24x	14.09x	12.84x	20.48x
Forward P/E	13.08x	--	--	--
Price to Sales	0.6x	0.77x	0.53x	0.72x
Price to Book	2.6x	3.39x	2.24x	2.25x
EV/Revenue	0.83x	1.02x	0.81x	1.13x
EV/EBITDA	7.48x	9.14x	8.25x	12.4x
Price to FCF (P/FCF)	75.01x	36.76x	81.37x	--
EV/FCF	104.04x	48.38x	124.33x	--
FCF Yield	1.33%	2.72%	1.23%	-2.38%