FT&RL conducts economic and financial valuations of a company or business unit, by elaborating an “Institutional and Valuation Dossier”, based on its free cash flow generation potential (DCF) and/or any other method that best applies to the company’s specific situation, for the following purposes:

• Total or partial sale amongst Shareholders
• Total or partial sale to third parties, including Private Equities
• Value based Management
• Mergers and Joint-Ventures
• Corporate Restructuring and Reorganization
• Spin-offs and Divestitures

CONSIDERED ITEMS

General

• Company History
• Market Performance and Competition
• Main Clients and Suppliers
• Product Portfolio
• Employees

Financial

• Current and Historical Financial Situation
• Value of Assets and Debts
• Sales Performance
• Level of Debt
• Working Capital
• New Investments
• Growth Potential
• Cash Flow Generation and Projection
• Price and Negotiation Structure