SOCIETE ANONYME D'ECONOMIE MIXTE D'ORGANISATION ET DE GESTION DES EQUIPEMENTS TOURISTIQUES DE LA VILLE DE MARTIGUES : revenue, balance sheet and financial ratios

In 2024, SOCIETE ANONYME D'ECONOMIE MIXTE D'ORGANISATION ET DE GESTION DES EQUIPEMENTS TOURISTIQUES DE LA VILLE DE MARTIGUES achieves revenue of 4.3 M€. Revenue is growing positively over 9 years (CAGR: +2.8%). Vs 2023, growth of +11% (3.9 M€ -> 4.3 M€). After deducting consumption (28 k€), gross margin stands at 4.3 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 861 k€, representing 19.8% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -78%, reducing margin by 80.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 73 k€, i.e. 1.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 97%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 11.1% 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 97.06. 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 12.8x. 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: 48 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 142 days. Excellent situation: suppliers finance 94 days of the operating cycle (retail model). Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-13 days): operations structurally generate cash.

Based on 114 transactions of similar company sales (all years), the value of SOCIETE ANONYME D'ECONOMIE MIXTE D'ORGANISATION ET DE GESTION DES EQUIPEMENTS TOURISTIQUES DE LA VILLE DE MARTIGUES is estimated at 3 248 187 € (range 1 769 868€ - 5 432 846€). With an EBITDA of 860 786€, the sector multiple of 5.1x is applied. The price/revenue ratio is 0.72x (in line with sector norms). 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.