Cash flow Matador Secondary Private Equity AG Deutsche Boerse AG

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CH0042797206

Investment Management & Fund Operators

Market Closed - Deutsche Boerse AG 02:01:08 2026-09-04 EDT			5-day change	1st Jan Change
3.520 ^EUR	0.00%		+7.32%	-22.81%

07-07

Matador Secondary Private Equity Sets Medium-term Targets

2e742bbd0cd.inaO6j2HhCq5am94XC8bVeXur4YzmBwtk32sgwYOW4k.3jzgqGzQy3naDwkiFV0iJ7Gs7ct4yWly9k32s2lRErvjHr-gXtPSZPsFJg

Published financial data: MATADOR SECONDARY PRIVATE EQUITY AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (CHF)	2022 (CHF)	2023 (CHF)	2024 (CHF)	2025 (CHF)
Revenues	-	-	-	-	-
Interest And Invest. Income (Rev)	942K	460K	1.77M	260K	408K
Other Revenues, Total	10.82M	9.33M	2.41M	5.67M	4.33M
Total Revenues	11.76M	9.79M	4.19M	5.93M	4.74M
Cost of Goods Sold, Total	335K	178K	133K	115K	322K
Gross Profit	11.43M	9.61M	4.05M	5.82M	4.42M
Selling General & Admin Expenses, Total	371K	391K	352K	371K	436K
Depreciation & Amortization - (IS)	4.96K	4.96K	3.44K	1K	1K
Other Operating Expenses	1.46M	1.4M	674K	1.47M	659K
Other Operating Expenses, Total	1.83M	1.8M	1.03M	1.84M	1.1M
Operating Income	9.6M	7.81M	3.02M	3.97M	3.32M
Interest Expense, Total	-832K	-984K	-1.12M	-1.38M	-1.45M
Net Interest Expenses	-832K	-984K	-1.12M	-1.38M	-1.45M
Currency Exchange Gains (Loss)	-596K	-332K	-4.68M	3.88M	-7.23M
Other Non Operating Income (Expenses)	-140K	-67.07K	-141K	-51.54K	-77.44K
EBT, Excl. Unusual Items	8.03M	6.43M	-2.92M	6.42M	-5.43M
Other Unusual Items	-11.99K	-606K	-142K	-45.17K	-36.68K
EBT, Incl. Unusual Items	8.02M	5.82M	-3.06M	6.38M	-5.47M
Income Tax Expense	750K	524K	-184K	75.82K	-148K
Earnings From Continuing Operations	7.27M	5.3M	-2.87M	6.3M	-5.32M
Net Income to Company	7.27M	5.3M	-2.87M	6.3M	-5.32M
Net Income - (IS)	7.27M	5.3M	-2.87M	6.3M	-5.32M
Net Income to Common Incl Extra Items	7.27M	5.3M	-2.87M	6.3M	-5.32M
Net Income to Common Excl. Extra Items	7.27M	5.3M	-2.87M	6.3M	-5.32M
Per Share Items
Net EPS - Basic	0.54	0.39	-0.2	0.42	-0.38
Basic EPS - Continuing Operations	0.54	0.39	-0.2	0.42	-0.38
Basic Weighted Average Shares Outstanding	13.41M	13.65M	14.23M	14.85M	14.06M
Net EPS - Diluted	0.52	0.36	-0.2	0.41	-0.38
Diluted EPS - Continuing Operations	0.52	0.36	-0.2	0.41	-0.38
Diluted Weighted Average Shares Outstanding	13.98M	14.86M	14.23M	15.3M	15.3M
Normalized Basic EPS	0.37	0.29	-0.13	0.27	-0.24
Normalized Diluted EPS	0.36	0.27	-0.13	0.26	-0.22
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	9.6M	7.81M	3.03M	3.97M	3.33M
EBITA	9.6M	7.81M	3.02M	3.97M	3.32M
EBIT	9.6M	7.81M	3.02M	3.97M	3.32M
EBITDAR	9.62M	7.83M	3.04M	3.99M	3.35M
Effective Tax Rate - (Ratio)	9.36	9	6.02	1.19	2.7
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	750K	524K	-184K	75.82K	-148K
Normalized Net Income	5.02M	4.02M	-1.82M	4.01M	-3.39M
Supplemental Operating Expense Items
Advertising Expense	34.36K	34.41K	30.13K	62.28K	60.16K
Selling and Marketing Expenses	34.36K	34.41K	30.13K	62.28K	60.16K
General and Administrative Expenses	298K	288K	286K	271K	315K
Net Rental Expense, Total	18K	18K	18K	18K	22.56K
Imputed Operating Lease Interest Expense	6.07K	5.61K	5.86K	6.9K	8.54K
Imputed Operating Lease Depreciation	11.93K	12.39K	12.14K	11.1K	14.01K

Fiscal Period: December	2021 (CHF)	2022 (CHF)	2023 (CHF)	2024 (CHF)	2025 (CHF)
Assets
Cash And Equivalents	1.6M	583K	3.34M	436K	580K
Short Term Investments	5.81M	5.12M	-	495K	1.15M
Total Cash And Short Term Investments	7.41M	5.7M	3.34M	931K	1.73M
Accounts Receivable, Total	2.81M	1.34M	-	3.91M	-
Other Receivables	5.09M	5.74M	7.05M	6.4M	9.71M
Total Receivables	7.91M	7.08M	7.05M	10.31M	9.71M
Prepaid Expenses	132K	126K	3.62K	7.54K	6.82K
Other Current Assets, Total	-	-	1	1	-
Total Current Assets	15.45M	12.91M	10.39M	11.25M	11.45M
Gross Property Plant And Equipment	1K	1K	-	-	-
Accumulated Depreciation	-257	-855	-	-	-
Net Property Plant And Equipment	743	145	-	-	-
Long-term Investments	57.35M	72.99M	75.3M	81.7M	69.75M
Other Intangibles, Total	7.24K	2.88K	5.2K	4.2K	3.2K
Deferred Tax Assets Long-Term	349K	684K	918K	-	682K
Other Long-Term Assets, Total	1	-	-	-	6.98M
Total Assets	73.16M	86.58M	86.61M	92.95M	88.86M
Liabilities
Accounts Payable, Total	44.92K	32.15K	30.97K	46.04K	94.86K
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	41.03K	2.53M	-	1.41M	3.72M
Current Income Taxes Payable	-	-	-	580K	580K
Unearned Revenue Current, Total	151K	514K	553K	515K	509K
Other Current Liabilities	859K	1.24M	2.68M	1.76M	2.32M
Total Current Liabilities	1.1M	4.32M	3.27M	4.31M	7.22M
Long-Term Debt	23.22M	24.73M	27.86M	28.2M	27.92M
Deferred Tax Liability Non Current	1.37M	2.2M	2.02M	1.27M	1.79M
Other Non Current Liabilities	-	-	-	-1	-
Total Liabilities	25.69M	31.25M	33.15M	33.79M	36.94M
Common Stock, Total	14.84M	15.3M	15.3M	15.3M	15.3M
Retained Earnings	18.01M	23.54M	20.67M	26.97M	21.65M
Treasury Stock	-5.63M	-4.68M	-1.17M	-2.75M	-4.74M
Comprehensive Income and Other	20.25M	21.18M	18.67M	19.66M	19.73M
Total Common Equity	47.47M	55.34M	53.46M	59.17M	51.93M
Total Equity	47.47M	55.34M	53.46M	59.17M	51.93M
Total Liabilities And Equity	73.16M	86.58M	86.61M	92.95M	88.86M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	13.39M	14.18M	15.03M	14.65M	14.18M
ECS Total Common Shares Outstanding	13.39M	14.18M	15.03M	14.65M	14.18M
Book Value / Share	3.55	3.9	3.56	4.04	3.66
Tangible Book Value	47.46M	55.33M	53.46M	59.16M	51.93M
Tangible Book Value Per Share	3.55	3.9	3.56	4.04	3.66
Total Debt	23.27M	27.27M	27.86M	29.61M	31.64M
Net Debt	15.85M	21.56M	24.52M	28.68M	29.91M
Debt Equivalent Oper. Leases	144K	144K	144K	144K	180K
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	1K	1K	-	-	-

Fiscal Period: December	2021 (CHF)	2022 (CHF)	2023 (CHF)	2024 (CHF)	2025 (CHF)
Net Income	7.27M	5.3M	-2.87M	6.3M	-5.32M
Depreciation & Amortization - CF	1K	-	-	-	-
Depreciation & Amortization, Total	1K	-	-	-	-
Amortization of Deferred Charges, Total - (CF)	4K	5K	3.44K	1K	1K
(Gain) Loss From Sale Of Asset	-466K	-	-	-	-174K
Asset Writedown & Restructuring Costs	-10.64M	-9.42M	509K	-9.16M	3.11M
Other Operating Activities, Total	756K	436K	-234K	974K	-150K
Change In Accounts Receivable	1.05M	-1.28M	1.07M	649K	-628K
Change In Accounts Payable	18.92K	-12.77K	-1.18K	15.07K	48.82K
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	3.8M	2.79M	5.12M	-2.27M	3.66M
Cash from Operations	1.79M	-2.18M	3.59M	-3.49M	547K
Capital Expenditure	-	-	-	-	-
Sale of Property, Plant, and Equipment	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-6.53M	-4.11M	-8.06M	1.79M	-890K
Other Investing Activities, Total	1	-	-	-	-
Cash from Investing	-6.53M	-4.11M	-8.06M	1.79M	-890K
Long-Term Debt Issued, Total	13.51M	5.2M	4.98M	380K	-
Total Debt Issued	13.51M	5.2M	4.98M	380K	-
Long-Term Debt Repaid, Total	-	-2.53M	-2.07M	-	-
Total Debt Repaid	-	-2.53M	-2.07M	-	-
Issuance of Common Stock	212K	197K	6.78M	-	487K
Repurchase of Common Stock	-3.17M	-66.5K	-	-1.59M	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-1	-1	-	-	-
Cash from Financing	10.56M	2.8M	9.69M	-1.21M	487K
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	5.82M	-3.49M	5.23M	-2.9M	144K
Supplemental Items
Levered Free Cash Flow	-2.3M	5.83M	2.83M	-2.01M	2.37M
Unlevered Free Cash Flow	-1.78M	6.45M	3.53M	-1.15M	3.28M
Change In Net Working Capital	7.79M	-1.56M	-1.64M	3.63M	-1.2M
Net Debt Issued / Repaid	13.51M	2.67M	2.91M	380K	-

Fiscal Period: December	2021 (CHF)	2022 (CHF)	2023 (CHF)	2024 (CHF)	2025 (CHF)
Profitability
Return on Assets	9.17	6.11	2.18	2.76	2.29
Return on Total Capital	9.71	6.37	2.3	2.92	2.41
Return On Equity %	17.28	10.31	-5.28	11.19	-9.58
Return on Common Equity	17.28	10.31	-5.28	11.19	-9.58
Margin Analysis
Gross Profit Margin %	97.15	98.18	96.81	98.06	93.21
SG&A Margin	3.15	4	8.42	6.25	9.19
EBITDA Margin %	81.58	79.83	72.28	66.98	70.12
EBITA Margin %	81.57	79.82	72.2	66.96	70.1
EBIT Margin %	81.57	79.82	72.2	66.96	70.1
Income From Continuing Operations Margin %	61.76	54.14	-68.65	106.22	-112.19
Net Income Margin %	61.76	54.14	-68.65	106.22	-112.19
Net Avail. For Common Margin %	61.76	54.14	-68.65	106.22	-112.19
Normalized Net Income Margin	42.65	41.06	-43.54	67.66	-71.58
Levered Free Cash Flow Margin	-19.59	59.61	67.67	-33.89	49.96
Unlevered Free Cash Flow Margin	-15.17	65.89	84.41	-19.38	69.07
Asset Turnover
Asset Turnover	0.18	0.12	0.05	0.07	0.05
Fixed Assets Turnover	11.5K	22.05K	-	-	-
Short Term Liquidity
Current Ratio	14.11	2.99	3.18	2.61	1.59
Quick Ratio	13.98	2.96	3.18	2.61	1.58
Operating Cash Flow to Current Liabilities	1.63	-0.51	1.1	-0.81	0.08
Average Days Payable Outstanding	38.58	79.03	86.36	122.46	79.83
Long Term Solvency
Total Debt/Equity	49.01	49.28	52.11	50.05	60.94
Total Debt / Total Capital	32.89	33.01	34.26	33.35	37.86
LT Debt/Equity	48.93	44.7	52.11	47.66	53.77
Long-Term Debt / Total Capital	32.83	29.94	34.26	31.77	33.41
Total Liabilities / Total Assets	35.12	36.09	38.27	36.35	41.56
EBIT / Interest Expense	11.53	7.94	2.7	2.88	2.29
EBITDA / Interest Expense	11.53	7.94	2.7	2.89	2.29
(EBITDA - Capex) / Interest Expense	11.53	7.94	2.7	2.89	2.29
Total Debt / EBITDA	2.42	3.49	9.21	7.45	9.52
Net Debt / EBITDA	1.65	2.76	8.11	7.22	9
Total Debt / (EBITDA - Capex)	2.42	3.49	9.21	7.45	9.52
Net Debt / (EBITDA - Capex)	1.65	2.76	8.11	7.22	9
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	168.25	-16.8	-57.24	41.72	-20.05
Gross Profit, 1 Yr. Growth %	160.6	-15.92	-57.84	43.55	-24.01
EBITDA, 1 Yr. Growth %	181.43	-18.58	-61.29	31.32	-16.3
EBITA, 1 Yr. Growth %	181.48	-18.58	-61.33	31.44	-16.3
EBIT, 1 Yr. Growth %	181.48	-18.58	-61.33	31.44	-16.3
Earnings From Cont. Operations, 1 Yr. Growth %	562.14	-27.06	-154.22	-319.27	-184.44
Net Income, 1 Yr. Growth %	562.14	-27.06	-154.22	-319.27	-184.44
Normalized Net Income, 1 Yr. Growth %	525.69	-19.91	-145.35	-320.24	-184.58
Diluted EPS Before Extra, 1 Yr. Growth %	491.07	-31.4	-156.64	-303.98	-191.84
Accounts Receivable, 1 Yr. Growth %	270.22	-52.47	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-43.02	-80.48	-	-	-
Total Assets, 1 Yr. Growth %	27.05	18.35	0.03	7.32	-4.4
Tangible Book Value, 1 Yr. Growth %	29.71	16.59	-3.39	10.67	-12.23
Common Equity, 1 Yr. Growth %	29.69	16.57	-3.38	10.67	-12.24
Cash From Operations, 1 Yr. Growth %	-134.54	-222.11	-264.58	-197	-115.69
Levered Free Cash Flow, 1 Yr. Growth %	-120.98	-353.15	-51.46	-170.98	-217.86
Unlevered Free Cash Flow, 1 Yr. Growth %	-115.69	-461.38	-45.22	-132.54	-384.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	104.17	49.39	-40.36	-22.16	6.44
Gross Profit, 2 Yr. CAGR %	106.74	48.03	-40.46	-22.21	4.44
EBITDA, 2 Yr. CAGR %	110.45	51.37	-43.86	-28.7	4.84
EBITA, 2 Yr. CAGR %	110.49	51.38	-43.89	-28.7	4.89
EBIT, 2 Yr. CAGR %	110.49	51.38	-43.89	-28.7	4.89
Earnings From Cont. Operations, 2 Yr. CAGR %	997.11	119.76	-37.11	9.03	36.07
Net Income, 2 Yr. CAGR %	997.11	119.76	-37.11	9.03	36.07
Normalized Net Income, 2 Yr. CAGR %	944.29	123.86	-39.74	-0.07	36.48
Diluted EPS Before Extra, 2 Yr. CAGR %	906.31	101.37	-37.67	7.48	36.87
Accounts Receivable, 2 Yr. CAGR %	52.16	32.65	-	71.05	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-36.9	-66.65	-	-	-
Total Assets, 2 Yr. CAGR %	18.03	22.62	8.81	3.61	1.29
Tangible Book Value, 2 Yr. CAGR %	16.75	22.97	6.13	3.4	-1.45
Common Equity, 2 Yr. CAGR %	16.73	22.96	6.13	3.4	-1.45
Cash From Operations, 2 Yr. CAGR %	-23.55	-35.05	41.76	26.35	-60.98
Levered Free Cash Flow, 2 Yr. CAGR %	-47.15	-27.13	10.85	-41.3	-8.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	-54.6	-24.69	40.7	-57.78	-3.71
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	67.81	51.37	-1.55	-20.41	-21.46
Gross Profit, 3 Yr. CAGR %	82.22	53.17	-2.61	-20.16	-22.81
EBITDA, 3 Yr. CAGR %	90.58	53.35	-3.92	-25.48	-24.78
EBITA, 3 Yr. CAGR %	90.63	53.36	-3.94	-25.48	-24.79
EBIT, 3 Yr. CAGR %	90.63	53.36	-3.94	-25.48	-24.79
Earnings From Cont. Operations, 3 Yr. CAGR %	75.15	344.45	37.83	-4.64	0.13
Net Income, 3 Yr. CAGR %	75.15	344.45	37.83	-4.64	0.13
Normalized Net Income, 3 Yr. CAGR %	161.17	343.68	31.47	-7.17	-5.47
Diluted EPS Before Extra, 3 Yr. CAGR %	-	311.09	31.94	-7.46	1.99
Accounts Receivable, 3 Yr. CAGR %	-25.88	3.24	-	11.62	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-32.59	-57.33	-	-	-
Total Assets, 3 Yr. CAGR %	13.54	18.14	14.58	8.31	0.87
Tangible Book Value, 3 Yr. CAGR %	10.63	16.7	13.47	7.62	-2.1
Common Equity, 3 Yr. CAGR %	10.61	16.68	13.46	7.62	-2.1
Cash From Operations, 3 Yr. CAGR %	72.52	-10.63	-11.45	24.92	-36.96
Levered Free Cash Flow, 3 Yr. CAGR %	-	-10.91	-36.36	-4.46	-25.95
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-9.35	-32.27	-13.64	-20.22
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	10.95	16.01	1.57
Gross Profit, 5 Yr. CAGR %	-	-	16.49	16.81	0.16
EBITDA, 5 Yr. CAGR %	-	-	16.89	12.89	-0.5
EBITA, 5 Yr. CAGR %	-	-	16.88	12.89	-0.5
EBIT, 5 Yr. CAGR %	-	-	16.88	12.89	-0.5
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	16.27	153.35	37.13
Net Income, 5 Yr. CAGR %	-	-	16.27	153.35	37.13
Normalized Net Income, 5 Yr. CAGR %	-	-	45.27	144.41	33.45
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	140.38	33.89
Accounts Receivable, 5 Yr. CAGR %	-	-	-	26.34	-
Total Assets, 5 Yr. CAGR %	-	-	11.62	12.1	9.07
Tangible Book Value, 5 Yr. CAGR %	-	-	8.81	11.19	7.25
Common Equity, 5 Yr. CAGR %	-	-	8.8	11.18	7.25
Cash From Operations, 5 Yr. CAGR %	-	-	59.49	2.65	-36.2
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-24.61	-26.42
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-33.22	-22.04