• Portfolio asset value at EUR 31.0 million
• Total net asset value at EUR 27.1 million
• Around 18 percent above current market capitalisation

Munich, May 8, 2018 – Ecommerce Alliance AG (ECA, ISIN DE000A12UK08) publishes the net asset values (NAVs) of the entire group and its three segments

• Meta Platforms, SaaS, Digital Media,
• Value added e-Commerce and
• Digital Business Services as of March 31, 2018 for the first time today.

The total portfolio asset value of all three segments as of
March 31, 2018 is EUR 31.0 million. Taking into consideration the net financial liabilities towards Mountain Partners AG, the total NAV of Ecommerce Alliance Group on the valuation date os EUR 27.1 million or EUR 6.72 per share. The total NAV is therefore significantly above the current market capitalisation of EUR 23.0 million (around 18 percent higher).

The publication of the NAV comes in response to the wishes of many investors and analysts for more financial transparency. In future, the group’s NAV values will be calculated and published alongside the half and full year financial results. A regular update on the NAV value will give investors even better insights into the development of the ECA portfolio and will be part of the intensification of the company’s communication on the capital market.

Net asset value calculation of the ECA Group

NAV Segment in million EUR
Meta Platforms, SaaS, Digital Media 10.4
Value added e-Commerce 10.5
Digital Business Services 10.1
Portfolio Asset Value 31.0
Net financial obligations towards Mountain Partners AG 3.9
Total net asset value (NAV) 27.1
NAV per share (in EUR) 6.72

The assessment of the portfolio companies occurs based on recently completed transactions or financing rounds in which shares were issued to new investors. The fair value is determined by way of a discounted cash flow procedure for companies, where no recent transactions can be used for the analysis. Basis for the analysis are business plans of the portfolio companies, capital costs with an additional risk premium, and the assumptions for the calculation of a perpetual annuity after the detail planning phase. The assessment of portfolio companies traded on an active market is done based on stock market prices.