ADVENIS REAL ESTATE INVESTMENT MANAGEMENT : revenue, balance sheet and financial ratios

In 2024, ADVENIS REAL ESTATE INVESTMENT MANAGEMENT achieves revenue of 15.4 M€. Revenue is growing positively over 8 years (CAGR: +5.0%). Significant drop of -35% vs 2023. After deducting consumption (-28 k€), gross margin stands at 15.5 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.8 M€, representing 31.0% of revenue. Positive scissor effect: EBITDA margin improves by +4.1 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.7 M€, i.e. 24.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 53%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 24.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 215.51. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 47 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 242 days. Excellent situation: suppliers finance 195 days of the operating cycle (retail model). Overall, WCR represents 339 days of revenue, i.e. 14.6 M€ to permanently finance.

Based on 62 transactions of similar company sales in 2024, the value of ADVENIS REAL ESTATE INVESTMENT MANAGEMENT is estimated at 18 397 101 € (range 5 863 506€ - 40 677 501€). With an EBITDA of 4 782 178€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.30x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.