Valuation Multiple

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www.e-valuation.us

VALUATION MULTIPLES REPORT

January 2010

[XYZ Sector]

New York - London – Miami - Madrid

http://www.evalora.com/




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XYZ COMPANY – Valuation Multiples ReportJANUARY 2010Str

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www.e-valuation.us e-Valuation Multiples: Description

E-Valuation uses professional databases about transactions, as well as about worldwide quoted companies. Thanks to our

analysts´ experience and the tools used, e-Valuation can offer a customized service about comparable multiples in your

company sector. It will permit to dispose of a multiples range of the same activity or as comparable as possible.

The table of comparable multiples will offer the following information:

Transaction price - whenever it is available

Acquired stake percentage

Currency in which price and financial information are stated

Price interpretation, that is to say whether it refers to equity or enterprise price

Payment form (cash, shares exchange, debt holding, etc.)

Number of employees of the acquired company

Enterprise and equity Valuation of the acquired company

Company´s principals financial data (sales, EBIT, EBITDA, net income, net debt) - whenever they are available

Valuation multiples resulting from the previous information (Enterprise Value / Sales, Enterprise Value / EBIT, Enterprise

Value / EBITDA, y PER).





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www.e-valuation.us

Strictly Private and Confidential

#Target

Company

Bidder

CompanyCountry Currency Date Activity Description % Stake

Enterprise

Value (m)EV/Revenue EV/EBITDA

1EV/EBIT

2 PER

1 Company 1 Company A Sweden EUR 07/04/2009Swedish retailer of vehicles and provider

of related services100.0% 11.4 0.17x - - -

2 Company 2 Company B Spain EUR 13/02/2009Spanish vehicle retailer specializing in

Fords- - - - - -

3 Company 3 Company C Spain EUR 31/12/2008 Spain based auto dealer - - - - - -

4 Company 4 Company D United Kingdom GBP 23/05/2008

UK based automotive supplier. The bidder

Group has got around 30 years of

experience in luxury vehicles retail

business.

100.0% 6.4 0.18x 18.2x 25.4x 38.1x

5 Company 5 Company E United Kingdom GBP 04/05/2008UK based firm sells, hires and services

Ford vehicles.50.8% 13.0 0.11x - - -

6 Company 6 Company F Spain EUR 01/05/2008 Spain based car dealer of Peugeot firm 76.0% - - - - -

7 Company 7 Company G Russia EUR 24/04/2008Russian car dealer. Operates with firms

like Land Rover, BMW or Jaguar. 100.0% 446.3 1.09x - 28.2x -

8 Company 8 Company H Spain EUR 13/03/2008Spain based company engaged in

automotive dealership business- - - - - -

9 Company 9 Company I United Kingdom GBP 03/10/2007

UK based motor distribution company.

Works with firms like Audi, Alfa Romeo,

Chrysler, Citroën, Jaguar, Ford, Jeep,…

46.7% 60.0 0.14x - 20.0x -

# Company 10 Company J United Kingdom GBP 02/05/2007UK based dealer of cars and vehicle

service centre operator.100.0% 7.1 0.12x 12.2x 16.4x -

# Company 11 Company K United Kingdom GBP 27/02/2007

UK motor vehicle retailer. Operates with

new and second hand vehicles, camions,

caravans and bicycle.

58.0% 69.0 0.12x 10.3x 14.4x 12.5x

AVERAGE 0.28x 13.6x 20.9x 25.3x

Nota 1: EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortization MEDIAN 0.14x 12.2x 20.0x 25.3x

Nota 2: EBIT = Earnings Before Interest and Taxes MAXIMUM 1.09x 18.2x 28.2x 38.1x

MINIMUM 0.11x 10.3x 14.4x 12.5x

Multiples

Occurred Transactions in Vehicles Retail Distribution´s Sector between 2007 and 2009 in Europe

e-Valuation Multiples: Summary Table

EXAMPLE





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www.e-valuation.us e-Valuation Multiples: Information Sources

e-Valuation uses numerous public information sources, both in Spain and abroad, in order to dispose of as much operations

as possible. Additionally, our subscription to several commercial register in various countries allow us, when the price is

published, to buy the acquired or merged company´s financial statements in order to calculate its valuation multiples.

In case we estimate necessary, we get in touch with the target company to confirm the data which has been published in

our information sources, giving better reliability to the data we use.





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www.e-valuation.us e-Valuation Multiples: Advantage

Finding information about private transactions is an extremely laborious task which consumes great amount of time. It is

worth realizing regularly this type of activity only for a company specialized in company valuation such as e-Valuation. In its

daily activity, e-Valuation uses its sources in the following cases:

To obtain valuation multiples in order to use them in a company valuation

To inform itself about recent transactions in a particular sector, (for example in order for mergers and

acquisitions´ advisers to prepare a reunion with a potential client, or if a company wants to inform know more

about the movement which is happening in the sector)

To inform itself about companies which are currently in acquiring position in the market, as well as the type of

acquisition they are interested in.

For this reason, the present report is addressed to the following collectives:

Venture Capital

Advisors and intermediates in fusions and acquisitions

Corporate Finance specialized agency

Investment banks

Companies which wants to know a reference price in their sector





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www.e-valuation.us e-Valuation Multiples: Contracting

The different contracting modalities are the following ones:

Multiples customized finding request: the client describe the companies´ activity of the multiples he wants to

know, and e-Valuation carries out a customized research on the client request. The research terms can be

established in regards to:

1. Sector and subsector

2. Business model

3. Geographical areas

4. Companies country

5. Transactions date

It is also possible to limit the number of transactions to be included in the report, or to establish research priorities,

extending progressively the research range in case of finding few transactions comparables according to initials

criteria.





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www.e-valuation.us e-Valuation Multiples: Price

In case of transactions:

Minimum requests for transactions are 5 transactions, equivalent to 250 euros to pay in advance. The payment for more

transactions will be done at their delivery at the rate of 50 euros by chosen transactions (included those which would not

have multiples).

In the case of quoted companies:

Through this service, the client establishes the criteria under which he is interested in the quoted companies and e-Valora

would do the consequent filter according to the client´s needs.

The minimum is 5 listed companies equivalent to 250 euros to pay in advance. The payment to realize for more

companies will be done at their delivery at the rate of 50 euros by chosen company.

Payment commitment:

e-Valuation will inform the client about the number of transactions found and the price resulting from the report with the

corresponding invoice sending.

Payment terms:

The Multiples report will have to be paid in any case before its delivery to the client. Once the payment confirmation is

received, the file with the requested information will be send by e-mail.





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www.e-valuation.us

e-Valuation Financial Services North America e-Valuation Financial Services Northern Europe

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New York City, New York 10005 London E14 5DY

United States of America United Kingdom

e-Valuation Financial Services Central and South America e-Valuation Financial Services Southern Europe

111 Brickell Avenue, 11th Floor c/ José Ortega y Gasset, 42

Miami, 33131 Madrid, Madrid 28006

United States of America Spain

e-Valuation Multiples: Contact Details





Valuation Multiple

Economy & Finance

Transcript of Valuation Multiple