AEROPORT DE MONTPELLIER MEDITERRANEE : revenue, balance sheet and financial ratios

In 2024, AEROPORT DE MONTPELLIER MEDITERRANEE achieves revenue of 33.5 M€. Revenue is growing positively over 9 years (CAGR: +3.5%). Vs 2023: +7%. After deducting consumption (335 k€), gross margin stands at 33.2 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9.9 M€, representing 29.5% of revenue. Positive scissor effect: EBITDA margin improves by +2.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.7 M€, i.e. 11.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 127%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 29%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 25.7% 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 175.22. 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 4.9x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 39 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 86 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-14 days): operations structurally generate cash. Notable WCR improvement over the period (-170%), freeing up cash.

Based on 205 transactions of similar company sales (all years), the value of AEROPORT DE MONTPELLIER MEDITERRANEE is estimated at 6 665 737 € (range 2 797 531€ - 17 181 936€). With an EBITDA of 9 893 361€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.