Question: 1. Multiples Approach Peer group analysis : We rst consider the comparable rms of Spreelicht AG and determine the average of the following given ratios

1. Multiples Approach Peer group analysis : We rst consider the comparable rms of Spreelicht AG and determine the average of the following given ratios : P/E , Entity value/ Sales, Entity value/ EBITDA and Entity Value I EBIT. Then we calculate the average of Earnings, Sales, EBITDA and EBIT using values from Year 00 to the forecasted gures thereof until Year 05 in order to determine the range of entity values. mm Prioe (M x EII'I'III'I'S per year) 2688 6675. 2 34136 5 2690 2450 2450 2200 2436. 7 Entity value (M in Sales per year) . 9462 10222 9310 9310 8892 8360 590 530 520 510 520 610 Entity vllue (M x EBITDA per year] . 8957 B788 8619 8788 10309 EDIT 130 180 180 190 260 Entity value (M x EDIT per yell) . 6396 5856 6656 12792 *4136,5 stands for the equity value so we need to add 4200 debt to get the entity value.Therefore, 4 136, 5 + 4 200 = 68 336.5 million. From the results, we have determined that the entity value ranges from the minimum of 8336,5 million and the maximum of 9259,3 million

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