| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| MARR | BID | B4B | SYY | EUR | | SLIGR | |
| BIT:MARR | JSE:BID | DB:B4B | DB:SYY | WSE:EUR | | ENXTAM:SLIGR | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.2% | 11.8% | 2.8% | 5.6% | 5.3% | | 3.8% | |
| 3Y CAGR | 12.7% | 25.3% | 7.8% | 15.4% | 7.1% | | 15.0% | |
| Latest Twelve Months | 0.1% | 5.3% | 3.0% | 3.9% | -0.6% | | 1.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 3.4% | 4.6% | 1.0% | 3.6% | 1.0% | | 1.0% | |
| Prior Fiscal Year | 4.0% | 5.2% | 0.6% | 4.1% | 1.4% | | 1.1% | |
| Latest Fiscal Year | 3.4% | 5.3% | 0.5% | 4.4% | 0.9% | | 1.4% | |
| Latest Twelve Months | 3.4% | 5.3% | 0.4% | 4.4% | 0.9% | | 1.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.41x | 0.74x | 0.17x | 0.61x | 0.12x | | 0.32x | |
| EV / LTM EBIT | 12.2x | 13.8x | 46.0x | 13.8x | 13.7x | | 22.9x | |
| Price / LTM Sales | 0.29x | 0.67x | 0.06x | 0.45x | 0.05x | | 0.18x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.12x | 0.41x | 0.74x | | | | | |
| Historical EV / LTM Revenue | 0.32x | 0.41x | 0.67x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.35x | 0.37x | 0.38x | | | | | |
| (x) LTM Revenue | 2,890 | 2,890 | 2,890 | | | | | |
| (=) Implied Enterprise Value | 1,003 | 1,056 | 1,109 | | | | | |
| (-) Non-shareholder Claims * | (403) | (403) | (403) | | | | | |
| (=) Equity Value | 600 | 653 | 706 | | | | | |
| (/) Shares Outstanding | 44.1 | 44.1 | 44.1 | | | | | |
| Implied Value Range | 13.61 | 14.81 | 16.00 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 13.61 | 14.81 | 16.00 | | 11.86 | | | |
| Upside / (Downside) | 14.8% | 24.8% | 34.9% | | | | | |