| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| AIW | LEADD | HYSG | AGIL | LOGISMOS | | NETIN | |
| BIT:AIW | HLSE:LEADD | ENXTBR:HYSG | BME:AGIL | ATSE:LOGISMOS | | CSE:NETIN | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 18.1% | 20.7% | 22.8% | 50.2% | 5.5% | | 10.7% | |
| 3Y CAGR | 14.2% | 8.7% | 2.0% | 15.2% | 13.2% | | 18.5% | |
| Latest Twelve Months | -14.7% | 7.6% | 7.2% | -18.1% | 8.9% | | 18.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 13.0% | -2.2% | 3.4% | -0.7% | -2.2% | | 9.4% | |
| Prior Fiscal Year | 14.7% | -3.7% | -2.4% | 3.1% | 3.2% | | 15.2% | |
| Latest Fiscal Year | 3.8% | -1.3% | 6.3% | 17.1% | 10.6% | | 17.1% | |
| Latest Twelve Months | 3.8% | -1.3% | 6.3% | 17.1% | 10.6% | | 17.1% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.79x | 1.34x | 2.21x | 0.85x | 2.44x | | 2.54x | |
| EV / LTM EBIT | 46.6x | -101.3x | 35.2x | 5.0x | 23.1x | | 14.9x | |
| Price / LTM Sales | 1.86x | 1.25x | 2.23x | 0.60x | 2.38x | | 2.12x | |
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| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.85x | 1.79x | 2.44x | | | | | |
| Historical EV / LTM Revenue | 2.54x | 4.05x | 4.69x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.71x | 2.85x | 2.99x | | | | | |
| (x) LTM Revenue | 7 | 7 | 7 | | | | | |
| (=) Implied Enterprise Value | 19 | 20 | 21 | | | | | |
| (-) Non-shareholder Claims * | (3) | (3) | (3) | | | | | |
| (=) Equity Value | 16 | 17 | 18 | | | | | |
| (/) Shares Outstanding | 12.8 | 12.8 | 12.8 | | | | | |
| Implied Value Range | 1.24 | 1.32 | 1.40 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1.24 | 1.32 | 1.40 | | 1.15 | | | |
| Upside / (Downside) | 7.9% | 14.6% | 21.3% | | | | | |