Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 8.5% - 7.5% | 8.0% |
| Terminal Revenue Multiple | 1.5x - 1.6x | 1.6x |
| Fair Value | €9.75 - €11.21 | €10.46 |
| Upside | 24.2% - 42.8% | 33.2% |
| Select Revenue and EBITDA Forecast | |||||||||||
| (EUR in millions) | Input Projections | ||||||||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 |
| Revenue | 3 | 9 | 12 | 13 | 13 | 13 | 13 | 14 | 14 | 14 | 14 |
| % Growth | -4.3% | 223.7% | 27.8% | 8.7% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% |
| EBITDA | -1 | 1 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| % of Revenue | -19.9% | 9.4% | 15.3% | 20.3% | 15.9% | 15.9% | 15.9% | 15.9% | 15.9% | 15.9% | 15.9% |
| Calculation of Free Cash Flow | |||||||||||
| Projected Unlevered Cash Flow | |||||||||||
| Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | ||
| EBITDA | 1 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| D&A | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) | |
| EBIT | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | |
| Pro forma Taxes | (0) | (0) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | |
| NOPAT | (0) | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Capital Expenditures | #NUM! | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) |
| NWC Investment | 0 | (4) | (2) | (1) | (0) | (0) | (0) | (0) | (0) | (0) | (0) |
| (+) D&A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | #NUM! | (4) | (1) | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| % Growth | NM | NM | 15% | 2% | 3% | 2% | 2% | 2% | 2% | ||