Helbiz SPAC Presentation Deck
Attractive Valuation
($ Mill.)
$3,196
$807
1.8x-7.1x 2025E Revenue
Implied Future Enterprise Value
$1,284
HELBIZ
$324
Discount Rate: 20%
1.8x-7.1x 2025E Revenue
Implied Discounted Enterprise Value
Implied EV Based on Comparable Companies Current Trading Values
$321
.7x 2025E Revenue
Post Money Enterprise Value
Transaction Value
= 80% Discount
= 50% Discount
Summary of Approach
Applies a range of 1.8x - 7.1x multiples to Helbiz
2025E Revenue to arrive at an Implied Future
Enterprise Value. That Future Enterprise Value is
discounted 5 years back to today to arrive at an
Implied Current Enterprise Value.
●
• The applied range of multiples is centered around the
median of Helbiz peer group (3.6x) with sensitivity
built on both the high and low ends.
• Revenue multiple is the appropriate valuation
approach based on how industry is valued and based
on available data.
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