ANDRITZ METALS FRANCE SAS : revenue, balance sheet and financial ratios

In 2024, ANDRITZ METALS FRANCE SAS achieves revenue of 39.8 M€. Activity remains stable over the period (CAGR: -1.9%). Significant drop of -16% vs 2023. After deducting consumption (17.4 M€), gross margin stands at 22.3 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 200 k€, representing 0.5% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -86%, reducing margin by 2.5 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 2.3 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 13%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 0.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 275.00. 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 54.8x. 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: 119 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. The company must finance 27 days of gap between collections and payments. Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 193 days of revenue, i.e. 21.3 M€ to permanently finance. Over 2016-2024, WCR increased by +37%, requiring additional financing.

Based on 61 transactions of similar company sales (all years), the value of ANDRITZ METALS FRANCE SAS is estimated at 4 043 013 € (range 2 171 638€ - 6 965 329€). With an EBITDA of 200 157€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.25x (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.