ALTOR INDUSTRIE : revenue, balance sheet and financial ratios

In 2024, ALTOR INDUSTRIE achieves revenue of 12.6 M€. Activity remains stable over the period (CAGR: -4.9%). Significant drop of -29% vs 2023. After deducting consumption (5.7 M€), gross margin stands at 6.9 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 860 k€, representing 6.8% of revenue. Warning negative scissor effect: despite revenue change (-29%), EBITDA varies by -61%, reducing margin by 5.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 308 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 77%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.7% 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 227.84. 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 6.0x. 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: 35 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 61 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 95 days of revenue, i.e. 3.3 M€ to permanently finance. Over 2018-2024, WCR increased by +97%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of ALTOR INDUSTRIE is estimated at 1 418 918 € (range 617 436€ - 2 659 197€). With an EBITDA of 859 632€, 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.