| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| TLGO | CAF | VOS | RFK | PIG | | ALO | |
| BME:TLGO | BME:CAF | DB:VOS | WSE:RFK | ENXTPA:PIG | | ENXTPA:ALO | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 11.2% | 10.1% | 7.0% | -23.4% | 1.0% | | 16.9% | |
| 3Y CAGR | 7.3% | 12.8% | 11.8% | -34.8% | 8.8% | | 26.1% | |
| Latest Twelve Months | 5.1% | 10.2% | -0.4% | -101.6% | -15.7% | | 6.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 5.0% | 4.7% | 5.6% | 554.7% | 3.1% | | 3.2% | |
| Prior Fiscal Year | 9.0% | 4.7% | 7.9% | -15.0% | 3.5% | | 1.6% | |
| Latest Fiscal Year | -10.4% | 5.1% | 7.9% | -84.5% | 7.2% | | 2.6% | |
| Latest Twelve Months | -10.4% | 5.1% | 7.9% | 11867.4% | 7.2% | | 3.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.23x | 0.39x | 1.17x | -39.39x | 0.50x | | 0.59x | |
| EV / LTM EBIT | -11.9x | 7.7x | 14.6x | -0.3x | 6.9x | | 19.6x | |
| Price / LTM Sales | 0.61x | 0.33x | 1.09x | -19.83x | 0.13x | | 0.54x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -39.39x | 0.50x | 1.23x | | | | | |
| Historical EV / LTM Revenue | 0.71x | 0.82x | 1.72x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.75x | 0.79x | 0.83x | | | | | |
| (x) LTM Revenue | 17,951 | 17,951 | 17,951 | | | | | |
| (=) Implied Enterprise Value | 13,442 | 14,150 | 14,857 | | | | | |
| (-) Non-shareholder Claims * | (939) | (939) | (939) | | | | | |
| (=) Equity Value | 12,503 | 13,211 | 13,918 | | | | | |
| (/) Shares Outstanding | 461.5 | 461.5 | 461.5 | | | | | |
| Implied Value Range | 27.09 | 28.63 | 30.16 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 27.09 | 28.63 | 30.16 | | 20.85 | | | |
| Upside / (Downside) | 29.9% | 37.3% | 44.6% | | | | | |