BBT Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	2.28B EUR	2.57B EUR	2.51B EUR	2.21B EUR
Enterprise Value	2.08B EUR	2.33B EUR	2.57B EUR	1.05B EUR
Valuation Multiples
Trailing P/E	7.35x	16.08x	21.42x	31.06x
Forward P/E	8.18x	--	--	--
Price to Sales	3x	3.21x	3.72x	4.79x
Price to Book	0.9x	1.01x	1x	0.89x
EV/Revenue	2.74x	2.91x	3.8x	2.27x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	11.89x	13.37x	10.83x
EV/FCF	--	10.8x	13.65x	5.13x
FCF Yield	--	8.41%	7.48%	9.24%