0525.HK 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	16.54B EUR	14.52B EUR	15.94B EUR	15.37B EUR
Enterprise Value	13.16B EUR	11.19B EUR	13.49B EUR	12.62B EUR
Valuation Multiples
Trailing P/E	9.73x	12.52x	13.39x	14.25x
Forward P/E	9.73x	--	--	--
Price to Sales	0.56x	0.65x	0.73x	0.72x
Price to Book	0.49x	0.5x	0.55x	0.54x
EV/Revenue	0.45x	0.5x	0.62x	0.59x
EV/EBITDA	3.8x	5.11x	6.47x	10x
Price to FCF (P/FCF)	7.73x	7.41x	9.83x	5.86x
EV/FCF	6.15x	5.71x	8.31x	4.82x
FCF Yield	12.94%	13.49%	10.18%	17.06%