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I need the cash flow valuations please and calculations. (pv of enterprise, + cash, -ltd, total equity and -per share) 2020 2021 2022 6.5% 6.0%

I need the cash flow valuations please and calculations. (pv of enterprise, + cash, -ltd, total equity and -per share)image text in transcribedimage text in transcribed

2020 2021 2022 6.5% 6.0% 2023 5.5% 2024 5.0% 2025 4.0% Revenue growth 7.0% Costs (2019 % of sales): Fuel Salaries & Benefits General & Administrative 46% 40% 6% Adjustments (2019 % of sales): Working Capital Fixed Assets 3% 8% Cash Flow Valuation PV of Enterprise + Cash - LTD Total Equity - # of shares (M) - per share 6.5 Discount rate: D/E Cost of debt Market premium Risk-free rate Beta (from Betas tab) Discount rate Tax rate (2019) 15.4% 8.8% 7.0% 6.3% 0.71 10% 0.88666666666666700% 34% Valuation based on Comparables (a) Price 2019 EPS Redwing 21.10 1.30 Ryanair 22.30 1.50 (a) (c) p/e 16 15 Silver using Redwing Silver using Ryanair LaSH FIUWSC III MIS) 2019 46.3 2015 9.0 1.8 0.0 0.1 (0.1) 6.8 2016 12.1 2.2 2.1 0.9 1.2 2017 21.1 3.3 1.8 0.7 2018 32.7 4.1 4.9 2.0 2.9 2020 49.5 7.3 9.5 0.9 8.6 2021 52.8 7.7 10.1 1.0 9.2 Est. 2022 2023 55.9 59.0 8.2 - 8.7 10.7 11.3 1.0 1.1 9.7 10.2 8.9 3.7 5.2 2024 62.0 9.1 11.9 1.1 10.7 2025 64.4 9.5 12.4 1.2 11.2 1.1 Salaries & Benefits General & Administrative Income before Taxes Taxes Net Income - Cash flow adjustments: Working Capital Fixed Assets Net Cash Flows - NCF (incl. TV) (0.3) 0.1 2.0 (4.2) (0.6) (0.2) 7.7 (0.6) (0.2) 8.3 (0.6) (0.2) 8.8 (0.6) (0.2) 9.4 (0.6) (0.2) 9.9 (0.5) (0.2) 10.5 1.0 1.0 100% 46% 40% % of Sales Sales Fuel Salaries & Benefits - General & Administrative - NIBT Taxes (% of NIBT) NIAT 100% 100% 43% 44% 47% 41% 10% 8% 0% 7% 867%' 42%' -1% 4% 100% 46% 40% 100% 100% 46% 46% 44% 42% 7% 5% 4% 6% 39%' 42% 2% 4% 100% 46% 40% 6% 100% 46% 40% 6% 8% 42% 4% 100% 46% 40% 6% 8% 10% 7% 100% 46% 40% 6% 6% 100% 46% 40% 6% 8% 10% 7% 6% 8% 8% 8% 10% 7% 10% 7% 10% 10% 7% 7% Other WC (% of Sales) - FA (% of Sales) 33% 21% 13% 11% 8% 3% 2% 2020 2021 2022 6.5% 6.0% 2023 5.5% 2024 5.0% 2025 4.0% Revenue growth 7.0% Costs (2019 % of sales): Fuel Salaries & Benefits General & Administrative 46% 40% 6% Adjustments (2019 % of sales): Working Capital Fixed Assets 3% 8% Cash Flow Valuation PV of Enterprise + Cash - LTD Total Equity - # of shares (M) - per share 6.5 Discount rate: D/E Cost of debt Market premium Risk-free rate Beta (from Betas tab) Discount rate Tax rate (2019) 15.4% 8.8% 7.0% 6.3% 0.71 10% 0.88666666666666700% 34% Valuation based on Comparables (a) Price 2019 EPS Redwing 21.10 1.30 Ryanair 22.30 1.50 (a) (c) p/e 16 15 Silver using Redwing Silver using Ryanair LaSH FIUWSC III MIS) 2019 46.3 2015 9.0 1.8 0.0 0.1 (0.1) 6.8 2016 12.1 2.2 2.1 0.9 1.2 2017 21.1 3.3 1.8 0.7 2018 32.7 4.1 4.9 2.0 2.9 2020 49.5 7.3 9.5 0.9 8.6 2021 52.8 7.7 10.1 1.0 9.2 Est. 2022 2023 55.9 59.0 8.2 - 8.7 10.7 11.3 1.0 1.1 9.7 10.2 8.9 3.7 5.2 2024 62.0 9.1 11.9 1.1 10.7 2025 64.4 9.5 12.4 1.2 11.2 1.1 Salaries & Benefits General & Administrative Income before Taxes Taxes Net Income - Cash flow adjustments: Working Capital Fixed Assets Net Cash Flows - NCF (incl. TV) (0.3) 0.1 2.0 (4.2) (0.6) (0.2) 7.7 (0.6) (0.2) 8.3 (0.6) (0.2) 8.8 (0.6) (0.2) 9.4 (0.6) (0.2) 9.9 (0.5) (0.2) 10.5 1.0 1.0 100% 46% 40% % of Sales Sales Fuel Salaries & Benefits - General & Administrative - NIBT Taxes (% of NIBT) NIAT 100% 100% 43% 44% 47% 41% 10% 8% 0% 7% 867%' 42%' -1% 4% 100% 46% 40% 100% 100% 46% 46% 44% 42% 7% 5% 4% 6% 39%' 42% 2% 4% 100% 46% 40% 6% 100% 46% 40% 6% 8% 42% 4% 100% 46% 40% 6% 8% 10% 7% 100% 46% 40% 6% 6% 100% 46% 40% 6% 8% 10% 7% 6% 8% 8% 8% 10% 7% 10% 7% 10% 10% 7% 7% Other WC (% of Sales) - FA (% of Sales) 33% 21% 13% 11% 8% 3% 2%

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