SORAPEL : SOCIETE OUVRIERE REGIONALE POUR LES APPLICATIONS DE L'ELECTRICITE : revenue, balance sheet and financial ratios

In 2025, SORAPEL : SOCIETE OUVRIERE REGIONALE POUR LES APPLICATIONS DE L'ELECTRICITE achieves revenue of 13.2 M€. Revenue is growing positively over 10 years (CAGR: +1.3%). Slight decline of -3% vs 2024. After deducting consumption (3.6 M€), gross margin stands at 9.6 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 8.1% of revenue. Positive scissor effect: EBITDA margin improves by +3.3 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 80 k€, i.e. 0.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 83%. 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 9.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 661.62. 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 1.7x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 82 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 41 days. The gap of 41 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 66 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 97 days of revenue, i.e. 3.5 M€ to permanently finance. Over 2016-2025, WCR increased by +33%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (37 transactions). This range of 159 920€ to 506 335€ is provided for information purposes only and requires in-depth analysis to be confirmed.