You have the following financial information about Huhtamki.

Income statement:

EURm	2021	2022E
Revenue	3,574.9	4,004.9
EBITDA	488.4	549.4
Net profit	198.8	240.4

Market cap and balance sheet:

EURm
Market capitalization	3,305.2
Net debt	1,524.1
Minority interest	76.5

a) Assume that Huhtamki raises EUR 500 million of new debt, uses a part of the money raised to pay a dividend of EUR 200m to its shareholders and keeps the remaining EUR 300m on a bank account that pays no interest. The (pre-tax) interest rate on the new debt is 5% and the tax rate is 20%. Assume that Huhtamki's WACC does not change in this transaction.

Calculate pro-forma financials adjusting for this transaction (also for the historical P&L numbers) and use those to calculate the following pro-forma multiple (with one decimal): P/E 2022E

b) Assume the same Huhtamki data and the same transaction as in the previous question. Calculate pro-forma financials adjusting for this transaction (also for the historical P&L numbers) and use those to calculate the following pro-forma multiple (with one decimal): EV/EBITDA 2022E

c) Assume the same Huhtamki data and the same transaction as in the previous question. Calculate pro-forma financials adjusting for this transaction (also for the historical P&L numbers) and use those to calculate the following pro-forma multiple (with one decimal): EV/Sales 2022E