Requirements:
1. Please prepare a WACC computation (Use CAPM Method for cost of equity) based on the information presented below
2. Please prepare a forecast and a DCF analysis (use Gordon Growth methodology for Terminal Value) to estimate the equity value (at share) of the asset based on the information presented below as of the valuation date.
3. Please indicate the EV/EBITDA multiple implied by your estimated value as of the valuation date.
Historical Financial Information		31/12/2020	31/12/2021	31/12/2022	31/12/2023
Revenue		500.0	525.0	556.5	595.5
Operating Costs		440.0	462.0	489.7	524.0
Net Income (Before Tax)		60.0	63.0	66.8	71.5
Interest		21.0	22.0	23.0	25.0
Depreciation & Amortization		10.0	10.5	11.1	11.9
Total Debt		442.0	521.0	480.0	500.0
Cash		20.0	25.0	18.0	15.0
Depreciation(as a % of revenue)		2%	2%	2%	2%
Forecast		31/12/2024	31/12/2025	31/12/2026	31/12/2027	31/12/2028
Revenue Growth (annual)		7%	6%	5%	4%	3%
EBITDA Margin		20%	20%	20%	20%	20%
CAPEX (as % of Revenue)		2.0%	2.0%	2.0%	2.0%	2.0%
Other
Asset Type:	Private Equity Investment
Valuation Date	31/12/2023
Long Term Inflation	2.0%
Net Working Capital as % of Change in Revenues	2.0%
Exit Multiple	10.0x
Optimal Capital Structure (D/C)	40%
Cost of Debt (Pre-tax)	5.0%
Risk Free Rate	2.0%
Beta (Unlevered)	0.6
Equity risk premium	5.0%
Company Specific Premium	5.0%
Ownership %	92%
Comparable Company Multiple (Current Average)	9.8x
Precedent Transaction Multiple (3 Year Average)	10.5x
Corporate Tax rate	26%