ACTIVE INTERNATIONAL (EUROPE) : revenue, balance sheet and financial ratios

In 2024, ACTIVE INTERNATIONAL (EUROPE) achieves revenue of 15.5 M€. Revenue is growing positively over 9 years (CAGR: +0.6%). Significant drop of -17% vs 2023. After deducting consumption (0 €), gross margin stands at 15.5 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 30 k€, representing 0.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 256 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 7%. 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 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 121.86. 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 22.2x. 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: 205 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 282 days. Excellent situation: suppliers finance 77 days of the operating cycle (retail model). Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 247 days of revenue, i.e. 10.6 M€ to permanently finance. Over 2016-2024, WCR increased by +32%, requiring additional financing.

Based on 50 transactions of similar company sales (all years), the value of ACTIVE INTERNATIONAL (EUROPE) is estimated at 1 590 204 € (range 809 272€ - 3 198 551€). With an EBITDA of 30 379€, the sector multiple of 1.8x is applied. The price/revenue ratio is 0.32x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.