ALPI BIO SANTENY : revenue, balance sheet and financial ratios

In 2020, ALPI BIO SANTENY achieves revenue of 4.6 M€. Activity remains stable over the period (CAGR: -1.5%). Significant drop of -14% vs 2019. After deducting consumption (1.9 M€), gross margin stands at 2.7 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 373 k€, representing 8.2% of revenue. Warning negative scissor effect: despite revenue change (-14%), EBITDA varies by -50%, reducing margin by 6.0 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 163 k€, i.e. 3.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 23%. 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 58%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.0% 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 285.60. 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 0.8x. 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: 39 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. Favorable situation: supplier credit is longer than customer credit by 23 days. Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 48 days of revenue, i.e. 616 k€ to permanently finance.

Based on 164 transactions of similar company sales in 2020, the value of ALPI BIO SANTENY is estimated at 2 356 500 € (range 1 415 194€ - 3 482 242€). With an EBITDA of 373 280€, the sector multiple of 6.1x is applied. The price/revenue ratio is 0.69x (in line with sector norms). 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.