| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| EVK | SDF | NVJP | 2NF | KEM | | WCH | |
| XTRA:EVK | XTRA:SDF | XTRA:NVJP | DUSE:2NF | DB:KEM | | DB:WCH | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 2.9% | 7.5% | -3.2% | NM- | 2.1% | | 3.0% | |
| 3Y CAGR | 0.4% | 4.4% | -14.8% | 4.3% | 3.3% | | -2.7% | |
| Latest Twelve Months | -0.7% | -5.7% | -18.7% | -3.1% | -12.9% | | -10.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 6.9% | 8.6% | 2.6% | 13.5% | 9.0% | | 9.3% | |
| Prior Fiscal Year | 4.0% | 9.3% | 4.3% | 15.3% | 9.9% | | 4.8% | |
| Latest Fiscal Year | 5.5% | -1.2% | -2.1% | 10.4% | 12.3% | | 4.3% | |
| Latest Twelve Months | 5.5% | -1.2% | -2.1% | 10.4% | 12.3% | | 4.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.81x | 0.61x | 0.22x | 1.14x | 1.09x | | 0.66x | |
| EV / LTM EBIT | 14.7x | -51.5x | -10.5x | 11.0x | 8.8x | | 15.4x | |
| Price / LTM Sales | 0.63x | 0.63x | 0.16x | 0.98x | 1.08x | | 0.69x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.22x | 0.81x | 1.14x | | | | | |
| Historical EV / LTM Revenue | 0.60x | 0.73x | 1.38x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.79x | 0.84x | 0.88x | | | | | |
| (x) LTM Revenue | 5,722 | 5,722 | 5,722 | | | | | |
| (=) Implied Enterprise Value | 4,542 | 4,781 | 5,020 | | | | | |
| (-) Non-shareholder Claims * | 145 | 145 | 145 | | | | | |
| (=) Equity Value | 4,687 | 4,927 | 5,166 | | | | | |
| (/) Shares Outstanding | 49.7 | 49.7 | 49.7 | | | | | |
| Implied Value Range | 94.36 | 99.17 | 103.98 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 94.36 | 99.17 | 103.98 | | 78.10 | | | |
| Upside / (Downside) | 20.8% | 27.0% | 33.1% | | | | | |