CLAIREFONTAINE-RHODIA : revenue, balance sheet and financial ratios

In 2024, CLAIREFONTAINE-RHODIA achieves revenue of 96.5 M€. Slight decline of -4% vs 2023. After deducting consumption (57.8 M€), gross margin stands at 38.7 M€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.8 M€, representing 1.8% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -98%, reducing margin by 98.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 367 k€, i.e. 0.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 174%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 30%. The balance between equity and debt is satisfactory.

The liquidity ratio (= Current assets / Current liabilities) stands at 384.79. 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 173.9x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 70 days. Favorable situation: supplier credit is longer than customer credit by 26 days. Inventory turnover is 157 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 257 days of revenue, i.e. 68.9 M€ to permanently finance.

Based on 145 transactions of similar company sales (all years), the value of CLAIREFONTAINE-RHODIA is estimated at 8 066 240 € (range 3 997 443€ - 20 974 803€). With an EBITDA of 1 751 118€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.