| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 0LN7 | 0EG8 | IAG | 0H4A | 0FGH | | WI2 | |
| LSE:0LN7 | LSE:0EG8 | LSE:IAG | LSE:0H4A | LSE:0FGH | | DB:WI2 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.0% | -0.2% | 4.7% | 0.6% | -4.1% | | 13.8% | |
| 3Y CAGR | 30.0% | 54.0% | 56.0% | 30.7% | 91.0% | | 46.8% | |
| Latest Twelve Months | 5.4% | 2.8% | 9.1% | 7.0% | 28.2% | | 3.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -8.0% | -26.2% | -15.0% | -7.7% | -37.7% | | -16.3% | |
| Prior Fiscal Year | 5.6% | 6.8% | 12.3% | 6.0% | 8.9% | | 4.1% | |
| Latest Fiscal Year | 5.0% | 3.8% | 14.1% | 3.4% | 6.1% | | 3.0% | |
| Latest Twelve Months | 5.5% | 2.4% | 14.2% | 3.8% | 5.5% | | 3.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.44x | 0.43x | 0.75x | 0.32x | 0.52x | | 1.16x | |
| EV / LTM EBIT | 8.0x | 18.0x | 5.3x | 8.5x | 9.4x | | 38.3x | |
| Price / LTM Sales | 0.06x | 0.18x | 0.53x | 0.21x | 0.37x | | 0.25x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.32x | 0.44x | 0.75x | | | | | |
| Historical EV / LTM Revenue | 1.16x | 2.01x | 5.56x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.18x | 1.24x | 1.30x | | | | | |
| (x) LTM Revenue | 5,268 | 5,268 | 5,268 | | | | | |
| (=) Implied Enterprise Value | 6,207 | 6,534 | 6,861 | | | | | |
| (-) Non-shareholder Claims * | (4,905) | (4,905) | (4,905) | | | | | |
| (=) Equity Value | 1,303 | 1,630 | 1,956 | | | | | |
| (/) Shares Outstanding | 103.4 | 103.4 | 103.4 | | | | | |
| Implied Value Range | 12.60 | 15.76 | 18.92 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 12.60 | 15.76 | 18.92 | | 12.67 | | | |
| Upside / (Downside) | -0.5% | 24.4% | 49.3% | | | | | |