Terms of Use

2Purpose and nature of the service

The valuation calculator is an information and illustration instrument. It derives its own multiple band: a European sector anchor from listed companies is combined with a sector discount the provider derives empirically from public DACH reference points, then scaled to the company's size class. The result is an indicative range, and the calculator shows which factors move it.

The results are hypothetical and indicative. They are provided exclusively for informational, illustrative, and theoretical purposes. In particular, the results are not:

• a company valuation or an expert valuation opinion,
• tax, legal, audit, investment, or financing advice,
• a recommendation to buy or sell a company or shares,
• an offer, an assurance, or a guarantee of any particular value or price.

An actually achievable price depends on factors the calculator does not capture, such as buyer interest, the quality of the figures, financing, and the negotiation situation.

3No reliance, no advisory relationship

The results must not be used as the sole or primary basis for any transaction, financing, negotiation, corporate, or investment decision. Use is at the user's own risk.

Using the service creates no advisory or engagement relationship and no duty of care or examination beyond the provision of the service itself. Advice in an individual case requires a separate written agreement.

4Cost and contract formation

Using the calculator and requesting the complete report is free of charge. Use of the service does not create a contract for paid advisory services. Any such contract requires a separate agreement.

5Contact

When you request the complete report or submit an inquiry, you make a business-related inquiry and request a response relating to it. The provider is entitled to contact you at the email address you provided in order to answer and assess your inquiry and the figures you submitted, and to point out advisory services of the provider relevant to it.

This contact is in the user's commercial interest and within the purpose of the inquiry. You may object to further contact at any time with effect for the future, for example by a short message to the address in the legal notice (Impressum).

Any further, regular updates are sent only through the separate quarterly update, which you may subscribe to voluntarily and separately. It comprises at most one email per quarter and can be cancelled at any time. The processing of personal data is governed by the privacy notice.

6User rights and obligations

The user is responsible for ensuring that the data entered is accurate, complete, and authorised for use in the calculator. The user must not enter data that they are not entitled to disclose or process.

The following, in particular, are prohibited:

• automated extraction of content or results,
• reverse engineering of the application or the methodology,
• systematically or repeatedly querying the tool in order to reconstruct or extract, in whole or in part, the underlying multiple ranges, adjustment factors, or data basis,
• resale or commercial redistribution of content or results,
• presenting the indicative results as a binding expert opinion or a reliable company valuation,
• any measure liable to impair the availability, integrity, or security of the service.

7Availability and reservation of changes

There is no claim to uninterrupted availability of the service. Maintenance, technical faults, or circumstances beyond the provider's control may lead to temporary restrictions.

The provider may change, restrict, or discontinue the service at any time and may amend these Terms with effect for the future. The provider will give notice of material changes to these Terms in an appropriate form. Continued use after the changes take effect constitutes acceptance of the amended version.

8Data basis and warranty

The multiples and reference points used in the calculator are derived and modelled from publicly available sources. The provider gives no warranty for the accuracy, completeness, currency, or fitness for a particular purpose of the data, the multiples, and the results. The service is provided in its respective available state, to the extent permitted by law.

9Liability and limitation of liability

The provider is liable without limitation for intent and gross negligence, for injury to life, body, or health, under an assumed guarantee, and under mandatory statutory provisions, in particular the German Product Liability Act (Produkthaftungsgesetz).

For simple negligence, the provider is liable only where a material contractual obligation is breached, that is, an obligation whose fulfilment makes the proper use of the service possible in the first place and on whose observance the user may regularly rely. In that case, liability is limited to the foreseeable damage typical of this kind of contract. In all other respects, liability is excluded.

Subject to paragraphs 1 and 2, liability is in particular excluded for decisions the user takes on the basis of the indicative results, and for the accuracy, completeness, and currency of the data and results. The foregoing limitations also apply to indirect damage and lost profit, to the extent permitted by law. Any contributory fault of the user under § 254 BGB remains unaffected.

The foregoing liability provisions also apply in favour of the provider's legal representatives, employees, and vicarious agents.

10Intellectual property

The application, the methodology, the texts, the design, and the other content of the service are protected by copyright and other rights. The user receives the non-exclusive, non-transferable right to use the results for their own internal informational purposes. Any use beyond this, in particular passing on, reproduction, or commercial exploitation, requires the provider's prior written consent.

The multiple ranges and reference data contained in the service are, as a compilation, further protected as a database under sections 87a et seq. of the German Copyright Act (UrhG). Repeated and systematic reproduction, distribution, or communication to the public of insubstantial parts of this database, and any use of a part that is substantial in nature or volume, require the provider's prior written consent.

11Data protection

Personal data is processed solely in accordance with the privacy notice. Accepting these Terms does not replace the separate data-protection consent for the report request and is separate from the optional quarterly update.

12Final provisions

The law of the Federal Republic of Germany applies, to the exclusion of the UN Convention on Contracts for the International Sale of Goods. To the extent permitted by law and only as against merchants, legal persons under public law, and special funds under public law, the exclusive place of jurisdiction and place of performance for all disputes arising out of or in connection with the use of the service is the provider's registered seat in Munich.

The user may set off only undisputed or finally adjudicated counterclaims against claims of the provider, and may exercise a right of retention only on that basis.

Amendments and supplements to these Terms require text form (Textform).

Should any provision of these Terms be or become wholly or partly invalid, this does not affect the validity of the remaining provisions. The statutory provision applies in place of the invalid provision.