ALTAREA ENTREPRISE : revenue, balance sheet and financial ratios

In 2024, ALTAREA ENTREPRISE achieves revenue of 133.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +76.2%. Vs 2023, growth of +8755% (1.5 M€ -> 133.5 M€). After deducting consumption (0 €), gross margin stands at 133.5 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 11.9 M€, representing 8.9% of revenue. Warning negative scissor effect: despite revenue change (+8755%), EBITDA varies by +491%, reducing margin by 124.7 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 12.8 M€, i.e. 9.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 140%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.6% 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 345.06. 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 0.1x. 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: 253 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 142 days. The gap of 111 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 155 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 213 days of revenue, i.e. 79.0 M€ to permanently finance. Over 2016-2024, WCR increased by +654%, requiring additional financing.

Based on 277 transactions of similar company sales (all years), the value of ALTAREA ENTREPRISE is estimated at 25 036 852 € (range 9 540 034€ - 66 341 114€). With an EBITDA of 11 902 479€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.