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 |
|---|---|---|
| Adjusted Earnings | 75.888 M - 169.4 M | 139 M |
| Discount Rate | 11.8% - 9.8% | 10.8% |
| Fair Value | €6.71 - €16.40 | €12.46 |
| Upside | -47.6% - 27.9% | -2.8% |
| Estimate Adjusted EBIT Margin | |||||||
| Fiscal Year Ending | LTM | ||||||
| Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | Jun-25 | ||
| (EUR in millions) | FY-4 | FY-3 | FY-2 | FY-1 | FY | LTM | |
| Revenue | 269 | 429 | 463 | 630 | 633 | 633 | |
| Adjusted EBITDA Build-up | |||||||
| EBT, Incl. Unusual Items | 35 | 99 | 105 | 158 | 132 | 136 | |
| (+) Net Interest Expense | (0) | 0 | (0) | (1) | (1) | (0) | |
| (+) Other Non Operating Exp. | 1 | (1) | (3) | (1) | 1 | 4 | |
| (+) D&A | 9 | 8 | 7 | 10 | 12 | 13 | |
| (+) Non-recurring Items | (3) | 5 | 1 | (5) | (1) | (1) | |
| Adjusted EBITDA | 41 | 111 | 110 | 161 | 144 | 152 | |
| (-) D&A | (9) | (8) | (7) | (10) | (12) | (13) | |
| Adjusted EBIT | 32 | 103 | 103 | 151 | 132 | 138 | |
| % of Revenue | 12.0% | 24.0% | 22.2% | 24.0% | 20.8% | 21.9% | |
| Low | Median | High | |||||
| Adjusted EBIT Margin | 12.0% | 22.2% | 24.0% | ||||
| Equity Waterfall | |||||||
| Model | |||||||
| (EUR in millions) | Low | Mid | High | Market | |||
| Enterprise Value | 646 | 1,293 | 1,737 | 1,334 | |||
| (+) Cash & Short Term Investments | 115 | 115 | 115 | 115 | |||
| (+) Investments & Other | 0 | 0 | 0 | 0 | |||
| (-) Debt | (4) | (4) | (4) | (4) | |||
| (-) Other Liabilities | (0) | (0) | (0) | (0) | |||
| (-) Preferred Stock | 0 | 0 | 0 | 0 | |||
| (-) Other | 0 | 0 | 0 | 0 | |||
| Value of Common Equity | 757 | 1,404 | 1,848 | 1,444 | |||
| (/) Shares Outstanding | 112.7 | 112.7 | 112.7 | 112.7 | |||
| Implied Stock Price (EUR) | 6.71 | 12.46 | 16.40 | 12.82 | |||
| FX Rate: EUR/EUR | 1.00 | 1.00 | 1.00 | 1.00 | |||
| Implied Stock Price (EUR) | 6.71 | 12.46 | 16.40 | 12.82 | |||
| Upside / (Downside) | -47.62% | -2.81% | 27.92% | ||||
| Stock Price | 12.82 | ||||||
| Stock Price Close | 12.82 | ||||||
| Restatment Type | Original | ||||||
| Reporting Currency | EUR | ||||||
| Trading Currency | EUR | ||||||
| FX Rate: EUR/EUR | 1.00 | ||||||
| Market Cap | 1,437.7 | ||||||
| Shares Outstanding | 112.7 | ||||||
| Share Exchange Ratio | 1.0 | ||||||
| Liquid Long-term Investments | 0 | ||||||