| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 1CO | EVK | KEMIRA | WCH | ARKA.Y | | BRD | |
| XTRA:1CO | DB:EVK | HLSE:KEMIRA | DB:WCH | OTCPK:ARKA.Y | | DB:BRD | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 2.7% | 2.9% | 2.1% | 3.0% | 1.8% | | 8.1% | |
| 3Y CAGR | -3.8% | 0.4% | 3.3% | -2.7% | 0.1% | | -9.8% | |
| Latest Twelve Months | -1.4% | -0.7% | -12.9% | -10.6% | 0.3% | | 9.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 5.4% | 6.9% | 9.0% | 9.3% | 9.4% | | 8.2% | |
| Prior Fiscal Year | 1.2% | 4.0% | 9.9% | 4.8% | 7.6% | | -4.0% | |
| Latest Fiscal Year | 0.5% | 5.5% | 12.3% | 4.3% | 7.1% | | -1.4% | |
| Latest Twelve Months | 0.5% | 5.5% | 12.3% | 4.3% | 7.1% | | -1.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.95x | 0.74x | 0.99x | 0.52x | 0.79x | | 0.85x | |
| EV / LTM EBIT | 198.8x | 13.5x | 8.1x | 12.1x | 11.2x | | -62.0x | |
| Price / LTM Sales | 0.79x | 0.56x | 0.98x | 0.55x | 0.50x | | 0.10x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.52x | 0.79x | 0.99x | | | | | |
| Historical EV / LTM Revenue | 0.56x | 0.85x | 1.33x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.81x | 0.85x | 0.90x | | | | | |
| (x) LTM Revenue | 77,411 | 77,411 | 77,411 | | | | | |
| (=) Implied Enterprise Value | 62,818 | 66,124 | 69,430 | | | | | |
| (-) Non-shareholder Claims * | (56,970) | (56,970) | (56,970) | | | | | |
| (=) Equity Value | 5,848 | 9,154 | 12,460 | | | | | |
| (/) Shares Outstanding | 402.2 | 402.2 | 402.2 | | | | | |
| Implied Value Range | 14.54 | 22.76 | 30.98 | | | | | |
| FX Rate: BRL/EUR | 6.7 | 6.7 | 6.7 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2.19 | 3.42 | 4.66 | | 2.88 | | | |
| Upside / (Downside) | -24.1% | 18.8% | 61.7% | | | | | |