{"id":2039061,"date":"2023-12-07T14:44:42","date_gmt":"2023-12-07T14:44:42","guid":{"rendered":"https:\/\/www.nimbo.net\/bewertung-unternehmen-nicht-profitabel"},"modified":"2025-10-07T14:17:49","modified_gmt":"2025-10-07T14:17:49","slug":"valuation-non-profitable-company","status":"publish","type":"post","link":"https:\/\/www.nimbo.net\/en\/valuation-non-profitable-company","title":{"rendered":"How Do You Evaluate a Company that is not Profitable?"},"content":{"rendered":"\n<p>Even a non-profitable company can possess substantial or strategic value. The choice of the appropriate valuation method depends heavily on the individual situation: on the asset structure, market opportunities, and the goals of the owners. A combination of several methods often provides the greatest informative value.  <\/p>\n<style>.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-right:var(--global-kb-spacing-lg, 3rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);padding-left:var(--global-kb-spacing-lg, 3rem);}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{border-left:4px solid #4b5563;}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col,.kadence-column2033116_6960b0-cd > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{flex-direction:column;}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{background-color:#f2f2f2;}.kadence-column2033116_6960b0-cd > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2033116_6960b0-cd{position:relative;}@media all and (max-width: 1024px){.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{border-left:4px solid #4b5563;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2033116_6960b0-cd > .kt-inside-inner-col{padding-right:var(--global-kb-spacing-md, 2rem);padding-left:var(--global-kb-spacing-md, 2rem);border-left:4px solid #4b5563;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2033116_6960b0-cd inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading2033116_3d45a4-e0, .wp-block-kadence-advancedheading.kt-adv-heading2033116_3d45a4-e0[data-kb-block=\"kb-adv-heading2033116_3d45a4-e0\"]{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-size:var(--global-kb-font-size-md, 1.25rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading2033116_3d45a4-e0 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading2033116_3d45a4-e0[data-kb-block=\"kb-adv-heading2033116_3d45a4-e0\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading2033116_3d45a4-e0 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading2033116_3d45a4-e0\">Suitable Approaches and Methods to Help You Evaluate a Loss-Making Company<\/p>\n<\/div><\/div>\n<style>.kb-row-layout-id2033116_e983ce-41 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id2033116_e983ce-41 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id2033116_e983ce-41 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:800px;margin-left:auto;margin-right:auto;padding-top:0rem;padding-bottom:var(--global-kb-spacing-md, 2rem);grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id2033116_e983ce-41 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id2033116_e983ce-41 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id2033116_e983ce-41 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id2033116_e983ce-41 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column2033116_b57e41-aa > .kt-inside-inner-col,.kadence-column2033116_b57e41-aa > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column2033116_b57e41-aa > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2033116_b57e41-aa > .kt-inside-inner-col{flex-direction:column;}.kadence-column2033116_b57e41-aa > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2033116_b57e41-aa > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2033116_b57e41-aa{position:relative;}@media all and (max-width: 1024px){.kadence-column2033116_b57e41-aa > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2033116_b57e41-aa > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2033116_b57e41-aa\"><div class=\"kt-inside-inner-col\"><\/div><\/div>\n\n<\/div><\/div>\n<h2 class=\"wp-block-heading\">The Book Value Method<\/h2>\n\n<p>This is a frequently used and comparatively easy-to-apply valuation method. <\/p>\n\n<h3 class=\"wp-block-heading\">What is Meant by Book Value?<\/h3>\n\n<p>The <strong>book value<\/strong> of a company is the calculated value of equity according to the balance sheet &#8211; i.e., the difference between total assets and liabilities. In its simplest form, it is: <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Book Value = Assets &#8211; Liabilities<\/strong><\/p>\n<\/blockquote>\n\n<p>This takes into account all assets on the balance sheet (e.g., machinery, real estate, inventory, liquid assets), minus existing liabilities (e.g., loans, payables to suppliers). With this method, the book value of the company is determined by calculating the equity (total value of assets minus liabilities). This approach can be useful if the company has assets that exceed its liabilities.  <\/p>\n\n<h3 class=\"wp-block-heading\">When is the Book Value Method Useful?<\/h3>\n\n<p>Especially for <strong>non-profitable companies<\/strong>, the book value can be a first indicator, particularly when:<\/p>\n\n<ol class=\"wp-block-list\"><\/ol>\n\n<ul class=\"wp-block-list\">\n<li>There are <strong>valuable assets<\/strong> (e.g., real estate, brand rights, machine parks)<\/li>\n\n\n\n<li>The company is <strong>not considered a &#8220;going concern&#8221;<\/strong> (i.e., not continuing) &#8211; e.g., in cases of planned liquidations, sales of individual parts, or in restructuring situations. <\/li>\n\n\n\n<li>a <strong>stable net asset value (NAV)<\/strong> is present, regardless of current earnings<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">Important Notes on Application:<\/h3>\n\n<p>The method <strong>says nothing about the earning power or future potential<\/strong> of the company.<\/p>\n\n<p>The <strong>balance sheet value often does not reflect the actual market value<\/strong>. Assets such as real estate or machinery may be either under- or overvalued. An <em>adjustment based on current values<\/em> is recommended.   (Detailed information on potentially useful adjustments can be found in our blog post &#8220;<a href=\"https:\/\/www.nimbo.net\/en\/add-backs-company-valuation\">Add-backs for Company Valuation<\/a>&#8220;)<\/p>\n\n<p>Intangible assets such as <strong>brands, customer bases, or know-how<\/strong> are often not or only partially recorded on the balance sheet &#8211; they remain unconsidered in the pure book value method.<\/p>\n\n<h2 class=\"wp-block-heading\">Asset-Based Approach <\/h2>\n\n<h3 class=\"wp-block-heading\">What is My Company Worth &#8220;in Parts&#8221; &#8211; without Looking at Profits?<\/h3>\n\n<p>The asset-based approach considers the <strong>value of tangible and intangible assets<\/strong> available to the company \u2013 regardless of whether profits are currently being generated or not. It is particularly suitable when <strong>operational substance<\/strong> is present, but the <strong>earnings situation is weak<\/strong>. <\/p>\n\n<h3 class=\"wp-block-heading\">What is the Net Asset Value (NAV)?<\/h3>\n\n<p>The net asset value (NAV) indicates what it would cost to <strong>rebuild an identical company today<\/strong> \u2013 i.e., with the same assets, in the same location, with comparable equipment.<\/p>\n\n<p>A distinction is made between:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Reproduction value<\/strong>: What does it cost to restore the existing substance equivalently?<\/li>\n\n\n\n<li><strong>Liquidation value<\/strong>: What does the sale of the substance bring on the market (see separate method)?<\/li>\n<\/ul>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Net Asset Value (NAV) = Fair value of all operating assets \u2013 Liabilities<\/strong><\/p>\n<\/blockquote>\n\n<p>The operating assets can include, for example, land, buildings, machinery, vehicle fleet, inventory, technical equipment, software, patents, brands (if assessable), etc. Not considered are the customer base, business model, or know-how &#8211; unless these are tradable.  <\/p>\n\n<h3 class=\"wp-block-heading\">When is the Asset-Based Approach Appropriate?<\/h3>\n\n<ul class=\"wp-block-list\">\n<li>For <strong>minimum value determination<\/strong>, if there is no significant earning power<\/li>\n\n\n\n<li>For <strong>non-profitable<\/strong> companies with <strong>substantial assets<\/strong> (e.g., production facilities, real estate owners, technical service providers)<\/li>\n\n\n\n<li>In <strong>restructuring or sale preparation<\/strong>, when the company may be broken up or sold off gradually<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">Special Features  Challenges:<\/h3>\n\n<p><strong>Intangible values<\/strong> are often not or only difficultly captured &#8211; especially for non-listed companies.<\/p>\n\n<p>Pure balance sheet values are often <strong>not market-appropriate<\/strong> &#8211; a <strong>valuation at current values<\/strong> is essential.<\/p>\n\n<p><strong>Useless or outdated assets<\/strong> (e.g., oversized facilities) may need to be written off.<\/p>\n\n<p>The asset-based approach provides an objectively sound valuation basis for companies with <strong>real economic substance<\/strong> \u2013 especially when there is no or only limited earnings potential. It serves well as a <strong>lower valuation limit<\/strong>, but does not replace an earnings- or market-oriented consideration if future potential exists. <br\/><\/p>\n\n<h2 class=\"wp-block-heading\">The <strong>Liquidation Value<\/strong> Method<\/h2>\n\n<h3 class=\"wp-block-heading\">How much is My Company Worth if it Had to be Liquidated?<\/h3>\n\n<p>When a company is not profitable, the question often arises: <em>What remains if I cease operations and sell all assets?<\/em> The <strong>liquidation value method<\/strong> provides a clear, albeit rather conservative answer.<\/p>\n\n<h3 class=\"wp-block-heading\">What Does &#8220;Liquidation Value&#8221; Mean?<\/h3>\n\n<p>The liquidation value is the estimated proceeds that could be achieved if all assets of the company were <strong>sold<\/strong> and all existing <strong>liabilities settled<\/strong> with the proceeds &#8211; essentially the &#8220;residual value&#8221; of the company in case of dissolution.<\/p>\n\n<p>It is typically <strong>lower than the book value<\/strong>, as a quick liquidation often only achieves <strong>fire sale prices<\/strong>.<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Liquidation value = realistic sales proceeds of all assets &#8211; liabilities &#8211; liquidation costs<\/strong><\/p>\n<\/blockquote>\n\n<h3 class=\"wp-block-heading\">When is the Liquidation Value Method Useful?<\/h3>\n\n<p>This method is particularly relevant in the following situations:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>In succession or sale considerations, when potential investors want to estimate the minimum value of the company.<\/li>\n\n\n\n<li>When the company <strong>no longer expects long-term returns<\/strong> or <strong>no buyer can be found for the business operations<\/strong> as a whole.<\/li>\n\n\n\n<li>In <strong>insolvency scenarios<\/strong>, in <strong>restructuring cases<\/strong> or as a <strong>worst-case scenario<\/strong> in strategic planning.<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">Factors You should Consider<\/h3>\n\n<p>Estimate the sales proceeds realistically. Machinery or inventory often fetch less on the open market than their book value. Real estate, on the other hand, can achieve higher values.   <\/p>\n\n<p>The <strong>time factor<\/strong> plays a role: The faster the liquidation needs to happen, the lower the sales proceeds usually are.<\/p>\n\n<p>Consider <strong>liquidation costs<\/strong> (e.g., brokers, legal advice, staff reductions, contract terminations).<\/p>\n\n<p>Take into account the tax aspects when dissolving hidden reserves. <\/p>\n\n<h2 class=\"wp-block-heading\"><strong>DCF Method (Discounted Cash Flow)<\/strong><\/h2>\n\n<h3 class=\"wp-block-heading\">Can My Company Have Future Value despite Current Losses?<\/h3>\n\n<p>The <strong>Discounted Cash Flow method<\/strong> (DCF for short) is one of the most frequently used methods for company valuation &#8211; especially for companies considered <strong>viable as a going concern<\/strong> and possessing future <strong>value potential<\/strong>, even if they are not currently generating profits.<\/p>\n\n<p>The basic idea: The value of a company is measured by the <strong>future financial surpluses<\/strong> (cash flows) it can generate for its owners. These future cash flows are discounted to their <strong>present value<\/strong> using a so-called <strong>discount rate<\/strong> (often based on the cost of capital). <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Value of the company = Present value of future cash flows<\/strong><\/p>\n<\/blockquote>\n\n<p>The rule is: The riskier and more uncertain the future earnings, the higher the discount rate &#8211; and thus the lower the current company value.<\/p>\n\n<h3 class=\"wp-block-heading\">Application for Non-Profitable Companies:<\/h3>\n\n<p>Even if <strong>no profits<\/strong> or even <strong>losses<\/strong> are currently being generated, the DCF method can be useful if:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>a <strong>turnaround in business development can be realistically planned<\/strong> (e.g., through restructuring, new products, or market expansion),<\/li>\n\n\n\n<li>there is a <strong>plausible future scenario<\/strong> with positive cash flows,<\/li>\n\n\n\n<li>investors or owners take a <strong>long-term perspective<\/strong>.<\/li>\n<\/ul>\n\n<p>In these cases, a so-called &#8220;<strong>ramp-up scenario<\/strong>&#8221; is typically calculated: The first few years show negative or low cash flows before a sustainable positive development sets in.<\/p>\n\n<h3 class=\"wp-block-heading\">Challenges  Pitfalls of the DCF Method<\/h3>\n\n<p>The <strong>capitalization rate is crucial<\/strong>: The chosen interest rate must adequately reflect the risk &#8211; an overly optimistic assumption quickly leads to inflated values.<\/p>\n\n<p><strong>High dependence on assumptions<\/strong>: Revenue growth, margins, investments, market development &#8211; small changes can have big impacts on the value.<\/p>\n\n<p><strong>Planning uncertainty<\/strong>: For unprofitable companies, forecasting is naturally riskier. Sensitivity analyses are therefore essential. <\/p>\n\n<h2 class=\"wp-block-heading\">Market Value\/Multiplier Method<\/h2>\n\n<h3 class=\"wp-block-heading\">What Do Others Pay for Comparable Companies &#8211; Even if They are not Currently Making a Profit?<\/h3>\n\n<p>The <a href=\"https:\/\/www.nimbo.net\/en\/market-value-approach-business-valuation\">market value or multiplier method<\/a> is not based on the company&#8217;s own data, but on <strong>what is paid on the market<\/strong>\u2014for example, in company sales, acquisitions, or IPOs. It is <strong>practical<\/strong> and based on <strong>real transactions<\/strong>. <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Company value = Multiplier \u00d7 Reference value<\/strong><\/p>\n<\/blockquote>\n\n<p>Industry-standard <strong>multipliers<\/strong> are used that could be observed in a recent transaction of a comparable company. In the case of non-profitable companies, the multipliers typically relate to revenue or industry-standard key figures.  <\/p>\n\n<h3 class=\"wp-block-heading\">Application for Non-Profitable Companies:<\/h3>\n\n<p>The method is particularly helpful when:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>The company is attractive due to, for example, <strong>customer base<\/strong>, <strong>platform effects<\/strong>, or <strong>scaling potential<\/strong><\/li>\n\n\n\n<li>There are <strong>no profits<\/strong>, but <strong>relevant revenues<\/strong> or <strong>market shares<\/strong><\/li>\n\n\n\n<li><strong>Comparable deals<\/strong> are known in the industry (e.g., through M&amp;A advisors, databases, industry reports)<\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">What are the Opportunities  Risks of this Method? <\/h3>\n\n<p><strong>Comparability is critical<\/strong>: An appropriate industry comparison is crucial &#8211; differences in business model, size, or region can strongly influence the significance. Especially in the case of smaller companies, where figures are rarely published, it can be difficult to obtain reliable numerical data.  <\/p>\n\n<p>If figures are available, this method stands out due to its <strong>market proximity<\/strong>: The values are based on real purchases and reflect the actual willingness to pay.<\/p>\n\n<p><strong>High volatility<\/strong>: Multipliers can fluctuate strongly depending on the market phase<\/p>\n\n<p>Further information on this method and its variants, such as the EBIT multiple method, EBITDA multiple method, etc., can be found in a<a href=\"https:\/\/www.nimbo.net\/en\/market-value-approach-business-valuation\"> separate blog post<\/a>. <\/p>\n<style>.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-right:var(--global-kb-spacing-lg, 3rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);padding-left:var(--global-kb-spacing-lg, 3rem);}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{border-left:4px solid #4b5563;}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col,.kadence-column2033116_e4cd87-de > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{flex-direction:column;}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{background-color:#f2f2f2;}.kadence-column2033116_e4cd87-de > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2033116_e4cd87-de{position:relative;}@media all and (max-width: 1024px){.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{border-left:4px solid #4b5563;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2033116_e4cd87-de > .kt-inside-inner-col{padding-right:var(--global-kb-spacing-md, 2rem);padding-left:var(--global-kb-spacing-md, 2rem);border-left:4px solid #4b5563;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2033116_e4cd87-de inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading2033116_214caf-fc, .wp-block-kadence-advancedheading.kt-adv-heading2033116_214caf-fc[data-kb-block=\"kb-adv-heading2033116_214caf-fc\"]{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-size:var(--global-kb-font-size-md, 1.25rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading2033116_214caf-fc mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading2033116_214caf-fc[data-kb-block=\"kb-adv-heading2033116_214caf-fc\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading2033116_214caf-fc wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading2033116_214caf-fc\">The Choice of Method Depends on the Individual Situation of the Company, its Industry, and the Available Information. <\/p>\n<\/div><\/div>\n\n<h3 class=\"wp-block-heading\">Overview: which Method when?<\/h3>\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><th>Company situation<\/th><th>Recommended method(s)<\/th><\/tr><tr><td>Substance available, no earnings<\/td><td>Net Asset Value (NAV), Book Value, Liquidation Value<\/td><\/tr><tr><td>No future prospects<\/td><td>Liquidation value<\/td><\/tr><tr><td>Restructuring or turnaround scenario<\/td><td>DCF, supplementary net asset value (NAV)<\/td><\/tr><tr><td>High market value due to customers, platform, brand<\/td><td>Multiplier method, possibly DCF<\/td><\/tr><tr><td>Business closure planned<\/td><td>Liquidation Value, Net Asset Value (NAV)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even a non-profitable company can possess substantial or strategic value. The choice of the appropriate valuation method depends heavily on the individual situation: on the asset structure, market opportunities, and the goals of the owners. A combination of several methods often provides the greatest informative value. Suitable Approaches and Methods to Help You Evaluate a&#8230;<\/p>\n","protected":false},"author":2,"featured_media":2041490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2039061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"taxonomy_info":[],"featured_image_src_large":["https:\/\/www.nimbo.net\/wp-content\/uploads\/2023\/12\/1f719619-2ba0-4e5b-8453-a16c8287bf40.png",1024,1024,false],"author_info":{"display_name":"Bettina Pfeiffer","author_link":"https:\/\/www.nimbo.net\/en\/author\/bettina"},"comment_info":0,"category_info":[],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/posts\/2039061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/comments?post=2039061"}],"version-history":[{"count":0,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/posts\/2039061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/media\/2041490"}],"wp:attachment":[{"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/media?parent=2039061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/categories?post=2039061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nimbo.net\/en\/wp-json\/wp\/v2\/tags?post=2039061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}