| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| EAPI | FAE | ALM | SFA | 2IVB | | ALK B | |
| ENXTPA:EAPI | BME:FAE | BME:ALM | BUL:SFA | DB:2IVB | | CPSE:ALKB | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.1% | 5.9% | 1.7% | 10.7% | 8.6% | | 11.1% | |
| 3Y CAGR | 1.0% | 6.0% | 5.8% | 9.9% | 14.5% | | 12.2% | |
| Latest Twelve Months | -9.8% | 10.1% | 13.1% | 17.4% | 4.1% | | 15.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 0.9% | 22.0% | 8.6% | 4.2% | 19.5% | | 11.0% | |
| Prior Fiscal Year | 0.1% | 21.7% | 4.9% | 4.9% | 23.8% | | 13.8% | |
| Latest Fiscal Year | -1.4% | 21.3% | 5.1% | 3.6% | 24.6% | | 19.8% | |
| Latest Twelve Months | -1.4% | 18.7% | 5.5% | 3.8% | 24.4% | | 21.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.32x | 2.44x | 2.25x | 0.65x | 1.80x | | 7.70x | |
| EV / LTM EBIT | -22.7x | 13.1x | 41.1x | 17.1x | 7.4x | | 35.2x | |
| Price / LTM Sales | 0.33x | 2.53x | 2.19x | 0.53x | 1.83x | | 7.65x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.32x | 1.80x | 2.44x | | | | | |
| Historical EV / LTM Revenue | 4.84x | 6.53x | 10.04x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 6.25x | 6.58x | 6.91x | | | | | |
| (x) LTM Revenue | 5,708 | 5,708 | 5,708 | | | | | |
| (=) Implied Enterprise Value | 35,676 | 37,554 | 39,431 | | | | | |
| (-) Non-shareholder Claims * | (283) | (283) | (283) | | | | | |
| (=) Equity Value | 35,393 | 37,271 | 39,148 | | | | | |
| (/) Shares Outstanding | 221.2 | 221.2 | 221.2 | | | | | |
| Implied Value Range | 160.01 | 168.50 | 176.99 | | | | | |
| FX Rate: DKK/DKK | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 160.01 | 168.50 | 176.99 | | 197.50 | | | |
| Upside / (Downside) | -19.0% | -14.7% | -10.4% | | | | | |