| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| PMV | ALMEX | TH3B | O2D | ZCH | | TA1 | |
| DB:PMV | ENXTPA:ALMEX | DB:TH3B | HMSE:O2D | DB:ZCH | | DB:TA1 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.1% | -13.2% | 0.0% | 3.0% | 7.1% | | 3.5% | |
| 3Y CAGR | 5.8% | -17.8% | 1.9% | 3.2% | 6.4% | | 4.4% | |
| Latest Twelve Months | 6.2% | -77.5% | 3.3% | -1.0% | 3.3% | | 3.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 13.6% | 1.1% | 13.0% | 1.4% | 7.7% | | 16.5% | |
| Prior Fiscal Year | 14.6% | 3.9% | 13.7% | 3.5% | 7.2% | | 17.8% | |
| Latest Fiscal Year | 15.8% | -33.9% | 14.3% | 5.8% | 7.5% | | 17.5% | |
| Latest Twelve Months | 15.8% | -33.9% | 14.3% | 5.8% | 7.6% | | 17.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.98x | -0.02x | 2.38x | 1.20x | 1.15x | | 1.56x | |
| EV / LTM EBIT | 12.5x | 0.1x | 16.6x | 20.6x | 15.3x | | 8.9x | |
| Price / LTM Sales | 1.09x | 0.09x | 1.10x | 0.75x | 1.30x | | 1.19x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -0.02x | 1.20x | 2.38x | | | | | |
| Historical EV / LTM Revenue | 1.27x | 1.56x | 1.67x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.54x | 1.62x | 1.71x | | | | | |
| (x) LTM Revenue | 5,315 | 5,315 | 5,315 | | | | | |
| (=) Implied Enterprise Value | 8,201 | 8,633 | 9,064 | | | | | |
| (-) Non-shareholder Claims * | (1,966) | (1,966) | (1,966) | | | | | |
| (=) Equity Value | 6,235 | 6,666 | 7,098 | | | | | |
| (/) Shares Outstanding | 664.1 | 664.1 | 664.1 | | | | | |
| Implied Value Range | 9.39 | 10.04 | 10.69 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 9.39 | 10.04 | 10.69 | | 9.55 | | | |
| Upside / (Downside) | -1.7% | 5.1% | 11.9% | | | | | |