ACTIONS ET DEVELOPPEMENT ECHANGES FRANCE ASIE : revenue, balance sheet and financial ratios

In 2024, ACTIONS ET DEVELOPPEMENT ECHANGES FRANCE ASIE achieves revenue of 937 k€. Revenue is growing positively over 8 years (CAGR: +4.7%). Significant drop of -36% vs 2023. After deducting consumption (0 €), gross margin stands at 937 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 135 k€, representing 14.4% of revenue. Warning negative scissor effect: despite revenue change (-36%), EBITDA varies by -76%, reducing margin by 23.7 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 162 k€, i.e. 17.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 118%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 44%. 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 28.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 17.4% 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 446.25. 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 52.6x. 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: 147 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 38 days. The gap of 109 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 122 days of revenue, i.e. 318 k€ to permanently finance. Notable WCR improvement over the period (-76%), freeing up cash.

Based on 54 transactions of similar company sales in 2024, the value of ACTIONS ET DEVELOPPEMENT ECHANGES FRANCE ASIE is estimated at 540 014 € (range 188 495€ - 1 002 160€). With an EBITDA of 135 348€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.59x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.