ANCIENS ETS G.SCHIEVER ET FILS : revenue, balance sheet and financial ratios

In 2024, ANCIENS ETS G.SCHIEVER ET FILS achieves revenue of 61.3 M€. Revenue is growing positively over 9 years (CAGR: +4.4%). Vs 2023, growth of +12% (54.8 M€ -> 61.3 M€). After deducting consumption (155 k€), gross margin stands at 61.1 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 25.7 M€, representing 42.0% of revenue. Warning negative scissor effect: despite revenue change (+12%), EBITDA varies by -5%, reducing margin by 7.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 9.9 M€, i.e. 16.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 168%. 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 37%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 19.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 38.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 1391.51. 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 17.1x. 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: 32 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Favorable situation: supplier credit is longer than customer credit by 17 days. Overall, WCR represents 461 days of revenue, i.e. 78.5 M€ to permanently finance. Over 2016-2024, WCR increased by +164%, requiring additional financing.

Based on 103 transactions of similar company sales in 2024, the value of ANCIENS ETS G.SCHIEVER ET FILS is estimated at 90 439 114 € (range 20 901 972€ - 171 675 363€). With an EBITDA of 25 716 203€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.