ACIERINOX MATERIEL : revenue, balance sheet and financial ratios

In 2024, ACIERINOX MATERIEL achieves revenue of 17.0 M€. Revenue is growing positively over 9 years (CAGR: +1.2%). Significant drop of -16% vs 2023. After deducting consumption (12.2 M€), gross margin stands at 4.7 M€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 228 k€, representing 1.3% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -78%, reducing margin by 3.9 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 141 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 50%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 30.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 228.90. 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 56.3x. 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: 73 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 120 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 169 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 284 days of revenue, i.e. 13.4 M€ to permanently finance. Over 2016-2024, WCR increased by +64%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 829 156€ to 1 993 914€ is provided for information purposes only and requires in-depth analysis to be confirmed.