Altamir - 2018 Registration document

1

Business description and activities

Selected financial information

PORTFOLIO PERFORMANCE 25% growth in average EBITDA in 2018 Year-on-year EBITDA growth at constant exchange rates, in %, weighted by Altamir’s residual cost of each investment; CAC 40 weighted by market capitalisation

26%

25%

19%

17%

13%

10%

10%

9%

4%

2%

-2%

012

2014

2015

2016

2017

2018

CAC 40

Altamir portfolio

Source : Capital IQ as of 11 March 2019.

VALUATION MULTIPLES Average multiples as of 31/12 weighted by each company’s contribution to NAV

DEBT MULTIPLES Average multiples as of 31/12 weighted by each company’s contribution to NAV

Enterprise value/LTM Ebitda

# of companies

Net debt: LTM Ebitda

# of companies

4.55

11.16

40

35

2018

2018

10.88

4.22

44

44

2017

2017

4.07 3.96

10.68

38

38

2016

2016

10.83

28

28

2015

2015

3.82

21

21

9.52 8.89

2014

2014

17

3.83

17

2013

2013

Valuation multiple: Sample of 35 companies as of 31/12/2018 (excluding financials, divested companies and companies valued by an indicator other than EBITDA). Debt multiple: Sample of 40 companies as of 31/12/2018 (excluding financials, divested companies)

12 Registration document ALTAMIR 2018

www.altamir.fr