AGRIPOLYANE : revenue, balance sheet and financial ratios

In 2024, AGRIPOLYANE achieves revenue of 38.4 M€. Revenue is growing positively over 9 years (CAGR: +3.6%). Vs 2023, growth of +13% (33.9 M€ -> 38.4 M€). After deducting consumption (26.5 M€), gross margin stands at 11.9 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.2 M€, representing 5.7% of revenue. Positive scissor effect: EBITDA margin improves by +5.6 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 595 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 78%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 4.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 192.36. 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 26.1x. 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: 71 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. The company must finance 17 days of gap between collections and payments. Inventory turnover is 93 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 140 days of revenue, i.e. 15.0 M€ to permanently finance. Over 2016-2024, WCR increased by +93%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of AGRIPOLYANE is estimated at 3 935 059 € (range 1 737 129€ - 7 035 527€). With an EBITDA of 2 190 170€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.