| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| FPE | LXS | SDF | ACT | EVK | | NTG | |
| XTRA:FPE | XTRA:LXS | XTRA:SDF | XTRA:ACT | XTRA:EVK | | DB:NTG | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.5% | -1.3% | 7.5% | 7.9% | 2.9% | | 2.5% | |
| 3Y CAGR | 7.1% | 1.4% | 4.4% | 9.5% | 0.4% | | 7.8% | |
| Latest Twelve Months | -0.5% | -5.2% | -5.7% | 3.2% | -0.7% | | -2.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 12.1% | 3.7% | 8.6% | 8.5% | 6.9% | | 10.0% | |
| Prior Fiscal Year | 11.7% | -1.2% | 9.3% | 9.9% | 4.0% | | 13.1% | |
| Latest Fiscal Year | 12.4% | 0.4% | -1.2% | 13.3% | 5.5% | | 9.4% | |
| Latest Twelve Months | 12.4% | 0.4% | -1.2% | 13.3% | 5.5% | | 11.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.44x | 0.66x | 0.60x | 1.73x | 0.80x | | 0.66x | |
| EV / LTM EBIT | 11.6x | 182.6x | -50.7x | 13.0x | 14.6x | | 5.9x | |
| Price / LTM Sales | 1.47x | 0.39x | 0.62x | 1.74x | 0.62x | | 0.67x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.60x | 0.80x | 1.73x | | | | | |
| Historical EV / LTM Revenue | 0.82x | 1.73x | 1.77x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.80x | 0.84x | 0.88x | | | | | |
| (x) LTM Revenue | 204 | 204 | 204 | | | | | |
| (=) Implied Enterprise Value | 162 | 171 | 179 | | | | | |
| (-) Non-shareholder Claims * | 2 | 2 | 2 | | | | | |
| (=) Equity Value | 164 | 173 | 182 | | | | | |
| (/) Shares Outstanding | 8.8 | 8.8 | 8.8 | | | | | |
| Implied Value Range | 18.69 | 19.66 | 20.63 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 18.69 | 19.66 | 20.63 | | 15.55 | | | |
| Upside / (Downside) | 20.2% | 26.4% | 32.7% | | | | | |