| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| AIW | 54Z | DTD2 | EOS | HYSG | | NETIN | |
| BIT:AIW | DB:54Z | DB:DTD2 | ENXTPA:EOS | ENXTBR:HYSG | | CSE:NETIN | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 18.1% | 12.7% | 7.0% | -1.7% | 22.8% | | 10.7% | |
| 3Y CAGR | 14.2% | -1.3% | 6.8% | 0.2% | 2.0% | | 18.5% | |
| Latest Twelve Months | -12.7% | -12.4% | 8.8% | -10.3% | 2.2% | | 18.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 11.6% | -117.3% | 3.8% | -1.1% | 3.7% | | 9.4% | |
| Prior Fiscal Year | 14.7% | -88.7% | 2.1% | 4.6% | -2.4% | | 15.2% | |
| Latest Fiscal Year | 3.8% | -64.5% | 13.7% | -4.9% | 6.3% | | 17.1% | |
| Latest Twelve Months | 0.0% | -64.5% | 17.4% | -4.9% | 6.1% | | 17.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.93x | 1.06x | 1.56x | 0.47x | 2.36x | | 2.54x | |
| EV / LTM EBIT | -17996.3x | -1.6x | 9.0x | -9.5x | 38.9x | | 14.9x | |
| Price / LTM Sales | 1.94x | 0.98x | 1.20x | 0.28x | 2.46x | | 2.12x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.47x | 1.56x | 2.36x | | | | | |
| Historical EV / LTM Revenue | 2.54x | 4.05x | 4.69x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.70x | 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 | 1.39 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1.24 | 1.32 | 1.39 | | 1.15 | | | |
| Upside / (Downside) | 7.7% | 14.4% | 21.1% | | | | | |