ORIGINATION / OR/03
The same business. A different price basis.
SYNTHETIC SOURCES — ALL DATA IS FICTIONAL
Created to demonstrate the analytical process.

C-S01 | 2026-09-01 | Synthetic trading and customer summary
Table 1 and section 2

Synthetic document. Company A; amounts in CZK m. 2023: revenue 104, EBITDA 9.2. 2024: revenue 112, EBITDA 10.5. 2025: revenue 120, EBITDA 12. No one-off adjustments are listed in the model for 2023 or 2024. EBITDA 2025 includes the net equipment-disposal gain in C-S02. The largest customer represents 35% of 2025 revenue. Its contract, customer margin and termination terms are not attached.

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C-S02 | 2026-09-01 | Synthetic ledger detail of the one-off item
Rows L01–L02

Synthetic document. Ledger detail for model year 2025: L01, disposal of retired equipment, proceeds CZK 3m. L02, derecognition of the same equipment, carrying amount charged to costs CZK 1m. The net CZK 2m gain is included in reported EBITDA of CZK 12m under the synthetic management summary. Disposal is outside normal component manufacturing. This model contains no other EBITDA adjustment or replacement investment for the equipment.

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C-S03 | 2026-09-01 | Synthetic ownership and financing profile
Sections 1–2

Synthetic document. Owner A: 60%; Owner B: 40%. The model brief requires both to participate in transaction discussions. This is not a registry extract and does not establish authority to sign a sale. Bank debt CZK 22m, cash CZK 4m. A complete lease schedule, other debt-like items and target working capital are missing. Owners’ willingness to sell is unconfirmed and no contact has taken place.

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C-S04 | 2026-09-01 | Synthetic buyer rule and price bridge
Sections 1–2

Synthetic document. The model buyer applies a ceiling of 6.0× adjusted EBITDA. The multiple is not market-derived. Inputs from C-S01 through C-S03: reported EBITDA 12, one-off adjustment −2, adjusted EBITDA 10, net debt 22 − 4 = CZK 18m. Before adjustment: enterprise value 72 and equity value 54. After adjustment: enterprise value 60 and equity value 42. Working capital, other price items and transaction expenses are considered separately. This is not a price offer.
