{"id":14348,"date":"2021-11-12T10:21:19","date_gmt":"2021-11-12T08:21:19","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=14348"},"modified":"2021-11-12T18:00:06","modified_gmt":"2021-11-12T16:00:06","slug":"assessment-of-other-similar-companies","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/assessment-of-other-similar-companies\/","title":{"rendered":"Assessment of other similar companies"},"content":{"rendered":"

Assessment of other similar companies<\/span><\/span>\u00a0<\/span><\/h1>\n<\/div><\/div>
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We mentioned in the chapter \u201cStock Exchange Evolution\u201d that the current multiples of BNET record values significantly below the average of similar companies listed on international markets, given that the return on capital brought by shareholders is significantly higher in the case of BNET, the situation being similar in case of revenue increase (size of business). We further reproduce the table based on which we documented the respective statement. The data are extracted from the Eikon Reuters system on October 13, 2021.<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div>

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The return on capital invested by shareholders was calculated according to the IRR formula, and is reproduced below, along with the mathematical demonstration of the statement \u201call capital increases made by the Company (including those for SOP or acquisition of companies with free shares) have brought value to shareholders who did not participate \u2013 an average return over 20% for shareholders who did NOT participate:<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div>

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\n\n\n\n\n\n\n\n\n\n
15\/04\/2015<\/span>\u00a0<\/span><\/td>\nEquity April 15, 2015<\/span>\u00a0<\/span><\/td>\n\n

-864,743<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

05\/12\/2017<\/span>\u00a0<\/span><\/td>\nCapital Increase December 5, 2017<\/span>\u00a0<\/span><\/td>\n\n

-807,127<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

14\/12\/2018<\/span>\u00a0<\/span><\/td>\nCapital Increase December 14, 2018<\/span>\u00a0<\/span><\/td>\n\n

-2,892,205<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

10\/04\/2020<\/span>\u00a0<\/span><\/td>\nCapital Increase April 10, 2020<\/span>\u00a0<\/span><\/td>\n\n

-9,168,712<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

02\/03\/2021<\/span>\u00a0<\/span><\/td>\nCapital Increase March 02, 2021<\/span>\u00a0<\/span><\/td>\n\n

-10,725,345<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

30\/09\/2021<\/span><\/b>\u00a0<\/span><\/td>\nEquity on September 30, 2021<\/span><\/b>\u00a0<\/span><\/td>\n\n

49,071,003<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\u202f<\/span>\u00a0<\/span><\/td>\nOf which, amounts attracted<\/span>\u00a0<\/span><\/td>\n\n

-23,593,389<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\u202f<\/span><\/b>\u00a0<\/span><\/td>\nIRR<\/span><\/b>\u00a0<\/span><\/td>\n\n

43,7%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div>

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Nothing in this chapter is an investment recommendation. Investing in stocks involves risks. Please read carefully the\u00a0<\/span><\/span>Universal Registration Document<\/span><\/span><\/a>\u00a0and the chapter \u201eRisk Factors\u201d also provided in this Report before you decide to invest in our shares.<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>