Land in Sicht GmbH

DEEURAcquired Dec 2023Closed Dec 2023EUR

in progressActive

EV€1.9M

Multiple paid4.6x

Exit multiple assumption8.5x

MULTIPLE JOURNEY

4.6xAcquired

8.5xGroup multiple

Y1 vs Underwriting

Behind plan

Y1 Revenue

CHF 1.9M

-3.9% vs plan CHF 2M

Y1 EBITDA

CHF 249K

-10.3% vs plan CHF 277.8K

IC Memo Summary

Land in Sicht GmbH acquired 2023-12 at 4.6x TTM EBITDA (EV €1.9M). Y1 actual revenue CHF 1.89M (96% of underwriting CHF 1.96M). Integration status: in-progress.

FLAGGED

Y1 revenue at 96% of underwriting (CHF 1.89M vs CHF 1.96M).
Y1 EBITDA at 90% of underwriting (CHF 0.25M vs CHF 0.28M).
Group finance function (month-end + reporting) (CHF 60K target) at 50% delivered — status Slightly Behind.

Underwritten vs Actual

Revenue · plan is dashed

ActualUnderwriting planY1 actual CHF 1.9M = 96% of plan

Year	Actual	Plan	Variance
Y1	CHF 1.9M	CHF 2M	-CHF 76.6K
Y2	Not reported	CHF 2.2M	—

Synergy Tracker

1 synergy · 50% realised

CHF 30,000

of CHF 60,000 target

Description	Owner	Target (CHF)	Delivered (CHF)	Status	Due
	Nadine Keller (Group Finance)	60,000	30,00050%	Slightly Behind	Jun 2026

Total synergy target: CHF 60,00050% realised to date

Cohort Comparison

This acquisition vs portfolio

	This acquisition	Portfolio average	Best sister
Y1 Revenue vs Plan (CHF)	1.9M	2.2M	3.4M
Y1 EBITDA Margin	13.2%	22.4%	28.1%
Synergy Realisation	50%	86%	117%

Comparison includes 6 acquisitions with Y1 actuals reported

FINANCIAL SNAPSHOT (TTM)

TTM REVENUE

CHF 2.2M

ADJUSTED EBITDA

CHF 348.3K

EBITDA MARGIN

15.8%

CASH BALANCE

CHF 300K

HEADCOUNT

CUSTOMERS

Integration Gates

4 of 4

Day 1Complete
Day 30Complete
Day 100Complete
Day 365Complete

TSA EXIT TRACKER

ExitedSep 2024

In Progress

1 TSA remaining

Data Connections

1 of 1 synced

DATEVAccounting · Land in Sicht GmbH

4 hours ago

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Budget vs Actual vs Forecast · FY26

Land in Sicht GmbH · YTD through Aug 2026 · CHF · forecast = YTD actual + remaining budget × 0.96


Revenue	1.5M	1.5M	At risk-46K· -3.0%	2.3M	2.2M	At risk-76.7K· -3.3%
Growth %	7.0%	3.8%	At risk-3.2pp	7.0%	3.4%	At risk-3.6pp
COGS	521.2K	505.7K	-15.6K· -3.0%	782K	756K	-26K· -3.3%
S&M	275.9K	275.8K	-180· -0.1%	414K	408.3K	-5.7K· -1.4%
R&D	291.3K	290.7K	-551· -0.2%	437K	430.6K	-6.4K· -1.5%
G&A	229.9K	230.6K	+639· +0.3%	345K	341K	-4K· -1.1%
OpEx (total)	797.2K	797.1K	-92· -0.0%	1.2M	1.2M	-16K· -1.3%
EBITDA	214.6K	184.3K	At risk-30.3K· -14.1%	322K	287.4K	At risk-34.6K· -10.8%
EBITDA %	14.0%	12.4%	At risk-1.6pp	14.0%	12.9%	At risk-1.1pp

OPERATING PERFORMANCE

Operating Metrics

Software

Net Revenue Retention

104.1%

Sep 25 – Aug 26

ARR Growth

13.3%

Sep 25 – Aug 26

Rule of 40

17.5%

Sep 25 – Aug 26

R&D Share of Revenue

19.5%

Sep 25 – Aug 26

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