AIR CONDITIONING & ENGINEERING : revenue, balance sheet and financial ratios

In 2024, AIR CONDITIONING & ENGINEERING achieves revenue of 173 k€. Revenue is declining over the period 2016-2024 (CAGR: -7.2%). Significant drop of -19% vs 2023. After deducting consumption (5 k€), gross margin stands at 168 k€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 123 k€, representing 71.0% of revenue. Warning negative scissor effect: despite revenue change (-19%), EBITDA varies by -40%, reducing margin by 24.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 118 k€, i.e. 68.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 96%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 68.3% 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 2421.11. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 487 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 129 days. The gap of 358 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 559 days of revenue, i.e. 268 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 35 405€ to 296 803€ is provided for information purposes only and requires in-depth analysis to be confirmed.