AISNE ENROBES : revenue, balance sheet and financial ratios

In 2024, AISNE ENROBES achieves revenue of 9.7 M€. Revenue is growing positively over 9 years (CAGR: +4.4%). Vs 2023: +3%. After deducting consumption (6.8 M€), gross margin stands at 3.0 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 1.3 M€, representing 13.2% of revenue. Positive scissor effect: EBITDA margin improves by +2.9 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 76 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 371%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 12%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 128.48. 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 6.7x. 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: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. Favorable situation: supplier credit is longer than customer credit by 11 days. Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 53 days of revenue, i.e. 1.4 M€ to permanently finance. Notable WCR improvement over the period (-62%), freeing up cash.

Based on 228 transactions of similar company sales (all years), the value of AISNE ENROBES is estimated at 1 389 264 € (range 573 548€ - 3 735 044€). With an EBITDA of 1 281 402€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.