ERII 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	349.15M EUR	461.6M EUR	524.47M EUR	712.36M EUR
Enterprise Value	264.32M EUR	408.39M EUR	483.2M EUR	673.72M EUR
Valuation Multiples
Trailing P/E	26.31x	30.09x	25.47x	21.69x
Forward P/E	20.42x	--	--	--
Price to Sales	2.9x	3.83x	3.84x	5.61x
Price to Book	2.03x	2.68x	2.85x	3.45x
EV/Revenue	2.19x	3.39x	3.54x	5.31x
EV/EBITDA	11.24x	15.58x	15.19x	17.15x
Price to FCF (P/FCF)	9.6x	11.96x	19.3x	102.45x
EV/FCF	7.27x	10.58x	17.78x	96.9x
FCF Yield	10.41%	8.36%	5.18%	0.98%