AMC52 : revenue, balance sheet and financial ratios

In 2024, AMC52 achieves revenue of 645 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.4%. Vs 2023: +2%. After deducting consumption (425 k€), gross margin stands at 220 k€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 24 k€, representing 3.6% of revenue. Warning negative scissor effect: despite revenue change (+2%), EBITDA varies by -36%, reducing margin by 2.2 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 8 k€, i.e. 1.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 84%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 143.35. 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 6.6x. 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: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 86 days. Excellent situation: suppliers finance 50 days of the operating cycle (retail model). Inventory turnover is 140 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 57 days of revenue, i.e. 102 k€ to permanently finance. Over 2016-2024, WCR increased by +501%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (39 transactions). This range of 33 681€ to 71 653€ is provided for information purposes only and requires in-depth analysis to be confirmed.