| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| EVK | LXS | 2NF | V1S | KEM | | BAS | |
| XTRA:EVK | XTRA:LXS | DUSE:2NF | DB:V1S | DB:KEM | | DB:BAS | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 2.9% | -1.3% | NM- | 1.8% | 2.1% | | 1.9% | |
| 3Y CAGR | 0.4% | 1.4% | 4.3% | 0.1% | 3.3% | | -6.0% | |
| Latest Twelve Months | 0.5% | -1.0% | -1.2% | 2.7% | -9.0% | | -2.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 6.8% | 3.3% | 13.2% | 9.3% | 9.4% | | 6.2% | |
| Prior Fiscal Year | 4.0% | -1.2% | 15.3% | 7.6% | 9.9% | | 4.1% | |
| Latest Fiscal Year | 5.5% | 0.4% | 10.4% | 7.1% | 12.3% | | 4.4% | |
| Latest Twelve Months | 5.8% | 0.9% | 9.7% | 6.7% | 11.5% | | 4.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.76x | 0.66x | 1.24x | 0.82x | 1.06x | | 0.87x | |
| EV / LTM EBIT | 13.1x | 74.0x | 12.7x | 12.3x | 9.2x | | 20.9x | |
| Price / LTM Sales | 0.55x | 0.36x | 1.06x | 0.51x | 1.04x | | 0.61x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.66x | 0.82x | 1.24x | | | | | |
| Historical EV / LTM Revenue | 0.55x | 0.81x | 1.06x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.79x | 0.83x | 0.87x | | | | | |
| (x) LTM Revenue | 65,109 | 65,109 | 65,109 | | | | | |
| (=) Implied Enterprise Value | 51,295 | 53,995 | 56,695 | | | | | |
| (-) Non-shareholder Claims * | (16,993) | (16,993) | (16,993) | | | | | |
| (=) Equity Value | 34,302 | 37,002 | 39,702 | | | | | |
| (/) Shares Outstanding | 892.5 | 892.5 | 892.5 | | | | | |
| Implied Value Range | 38.43 | 41.46 | 44.48 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 38.43 | 41.46 | 44.48 | | 45.05 | | | |
| Upside / (Downside) | -14.7% | -8.0% | -1.3% | | | | | |