ADVINDUS : revenue, balance sheet and financial ratios

In 2024, ADVINDUS achieves revenue of 2.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.8%. Vs 2023, growth of +82% (1.5 M€ -> 2.7 M€). After deducting consumption (2.4 M€), gross margin stands at 303 k€, i.e. a rate of 11%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 343 k€, representing 12.9% of revenue. Warning negative scissor effect: despite revenue change (+82%), EBITDA varies by +20%, reducing margin by 6.6 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 253 k€, i.e. 9.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 3.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 12.7% 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 220.15. 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 8.8x. 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: 20 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 103 days. Excellent situation: suppliers finance 83 days of the operating cycle (retail model). Inventory turnover is 83 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 154 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2016-2024, WCR increased by +316%, requiring additional financing.

Based on 113 transactions of similar company sales (all years), the value of ADVINDUS is estimated at 840 119 € (range 339 976€ - 1 616 856€). With an EBITDA of 343 403€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.