| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| BNN | WCH | 1CO | BIG1 | FPE | | IBU | |
| XTRA:BNN | XTRA:WCH | XTRA:1CO | XTRA:BIG1 | XTRA:FPE | | DB:IBU | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.7% | 3.0% | 2.7% | 13.3% | 6.5% | | 2.1% | |
| 3Y CAGR | 12.3% | -2.7% | -3.8% | 12.3% | 7.1% | | 6.7% | |
| Latest Twelve Months | -4.8% | -7.1% | 0.0% | 14.0% | 2.6% | | 6.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -14.6% | 9.3% | 5.2% | -20.4% | 12.1% | | 0.7% | |
| Prior Fiscal Year | -9.9% | 4.8% | 1.2% | -29.2% | 11.7% | | -3.7% | |
| Latest Fiscal Year | -16.2% | 4.3% | 0.5% | -21.8% | 12.4% | | -7.3% | |
| Latest Twelve Months | -19.1% | 3.3% | -0.6% | -25.9% | 12.2% | | -7.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.65x | 0.56x | 0.99x | 1.20x | 1.40x | | 0.77x | |
| EV / LTM EBIT | -3.8x | 17.2x | -156.2x | -4.6x | 11.4x | | -10.7x | |
| Price / LTM Sales | 0.82x | 0.55x | 0.80x | 1.25x | 1.43x | | 0.66x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.56x | 0.99x | 1.40x | | | | | |
| Historical EV / LTM Revenue | 0.77x | 2.96x | 4.83x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.06x | 1.12x | 1.18x | | | | | |
| (x) LTM Revenue | 52 | 52 | 52 | | | | | |
| (=) Implied Enterprise Value | 56 | 58 | 61 | | | | | |
| (-) Non-shareholder Claims * | (6) | (6) | (6) | | | | | |
| (=) Equity Value | 50 | 53 | 56 | | | | | |
| (/) Shares Outstanding | 4.8 | 4.8 | 4.8 | | | | | |
| Implied Value Range | 10.46 | 11.07 | 11.69 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 10.46 | 11.07 | 11.69 | | 7.14 | | | |
| Upside / (Downside) | 46.5% | 55.1% | 63.7% | | | | | |