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Metrics | Range | Conclusion |
---|---|---|
Adjusted Earnings | 3.116 M - 9.325 M | 5.062 M |
Discount Rate | 10.0% - 8.0% | 9.0% |
Fair Value | €1.11 - €3.39 | €1.78 |
Upside | -22.9% - 135.7% | 23.7% |
Estimate Adjusted EBIT Margin | |||||||
Fiscal Year Ending | LTM | ||||||
Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | Mar-25 | ||
(EUR in millions) | FY-4 | FY-3 | FY-2 | FY-1 | FY | LTM | |
Revenue | 42 | 44 | 55 | 60 | 64 | 63 | |
Adjusted EBITDA Build-up | |||||||
EBT, Incl. Unusual Items | (1) | 1 | (2) | (21) | (19) | (21) | |
(+) Net Interest Expense | 0 | 0 | (0) | (1) | (1) | (0) | |
(+) Other Non Operating Exp. | 1 | (2) | (2) | 2 | (1) | (0) | |
(+) D&A | 2 | 2 | 2 | 2 | 3 | 3 | |
(+) Non-recurring Items | (0) | 3 | |||||
Adjusted EBITDA | 2 | 0 | (3) | (14) | (18) | (19) | |
(-) D&A | (2) | (2) | (2) | (2) | (3) | (3) | |
Adjusted EBIT | 0 | (2) | (4) | (16) | (21) | (22) | |
% of Revenue | 0.6% | -3.7% | -7.7% | -27.2% | -32.0% | -34.6% | |
Low | Median | High | |||||
Adjusted EBIT Margin | 0.0% | 0.0% | 0.6% |
Equity Waterfall | |||||||
Model | |||||||
(EUR in millions) | Low | Mid | High | Market | |||
Enterprise Value | 31 | 56 | 117 | 44 | |||
(+) Cash & Short Term Investments | 23 | 23 | 23 | 23 | |||
(+) Investments & Other | 0 | 0 | 0 | 0 | |||
(-) Debt | (12) | (12) | (12) | (12) | |||
(-) Other Liabilities | 0 | 0 | 0 | 0 | |||
(-) Preferred Stock | 0 | 0 | 0 | 0 | |||
(-) Other | 0 | 0 | 0 | 0 | |||
Value of Common Equity | 42 | 67 | 127 | 54 | |||
(/) Shares Outstanding | 37.4 | 37.4 | 37.4 | 37.4 | |||
Implied Stock Price (EUR) | 1.11 | 1.78 | 3.39 | 1.44 | |||
FX Rate: EUR/EUR | 1.00 | 1.00 | 1.00 | 1.00 | |||
Implied Stock Price (EUR) | 1.11 | 1.78 | 3.39 | 1.44 | |||
Upside / (Downside) | -22.92% | 23.66% | 135.68% | ||||
Stock Price | 1.44 | ||||||
Stock Price Close | 1.44 | ||||||
Restatment Type | Press Release | ||||||
Reporting Currency | EUR | ||||||
Trading Currency | EUR | ||||||
FX Rate: EUR/EUR | 1.00 | ||||||
Market Cap | 58.3 | ||||||
Shares Outstanding | 37.4 | ||||||
Share Exchange Ratio | 1.0 | ||||||
Liquid Long-term Investments | 0 |