HTO Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	2.45B EUR	2.54B EUR	2.45B EUR
Enterprise Value	4.22B EUR	4.33B EUR	4.18B EUR
Valuation Multiples
Trailing P/E	20.52x	29.4x	32.11x
Forward P/E	21.48x	--	--
Price to Sales	2.95x	3.24x	3.3x
Price to Book	1.33x	1.38x	1.34x
EV/Revenue	5.09x	5.51x	5.62x
EV/EBITDA	13.32x	14.52x	14.7x
Price to FCF (P/FCF)	--	--	--
EV/FCF	--	--	--
FCF Yield	-10.24%	-10.66%	-10.19%