| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| BNN | 1CO | BIG1 | NTG | YG6 | | IBU | |
| XTRA:BNN | XTRA:1CO | XTRA:BIG1 | XTRA:NTG | DB:YG6 | | DB:IBU | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.7% | 2.7% | 13.3% | 3.0% | 3.0% | | 8.4% | |
| 3Y CAGR | 12.3% | -3.8% | 12.3% | 3.7% | 1.2% | | 14.2% | |
| Latest Twelve Months | 1.1% | 0.0% | 14.0% | 4.2% | 13.5% | | -2.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -14.6% | 5.2% | -20.4% | 10.0% | 15.0% | | 1.9% | |
| Prior Fiscal Year | -9.9% | 1.2% | -29.2% | 9.4% | 7.1% | | 3.5% | |
| Latest Fiscal Year | -16.2% | 0.5% | -21.8% | 10.6% | 13.0% | | -3.4% | |
| Latest Twelve Months | -17.2% | -0.6% | -25.9% | 10.6% | 13.0% | | -9.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.49x | 0.99x | 0.71x | 0.67x | 0.90x | | 0.76x | |
| EV / LTM EBIT | -2.8x | -156.0x | -2.7x | 6.3x | 7.0x | | -8.3x | |
| Price / LTM Sales | 0.81x | 0.80x | 0.77x | 0.65x | 1.22x | | 0.56x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.49x | 0.71x | 0.99x | | | | | |
| Historical EV / LTM Revenue | 1.36x | 2.96x | 4.83x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.02x | 1.07x | 1.13x | | | | | |
| (x) LTM Revenue | 49 | 49 | 49 | | | | | |
| (=) Implied Enterprise Value | 50 | 52 | 55 | | | | | |
| (-) Non-shareholder Claims * | (10) | (10) | (10) | | | | | |
| (=) Equity Value | 40 | 42 | 45 | | | | | |
| (/) Shares Outstanding | 4.8 | 4.8 | 4.8 | | | | | |
| Implied Value Range | 8.37 | 8.92 | 9.47 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 8.37 | 8.92 | 9.47 | | 5.62 | | | |
| Upside / (Downside) | 48.9% | 58.7% | 68.5% | | | | | |