ANHA CREATION : revenue, balance sheet and financial ratios

In 2021, ANHA CREATION achieves revenue of 3.1 M€. Vs 2014, growth of +106% (1.5 M€ -> 3.1 M€). After deducting consumption (1.8 M€), gross margin stands at 1.2 M€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 375 k€, representing 12.2% of revenue. Positive scissor effect: EBITDA margin improves by +6.7 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 169 k€, i.e. 5.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 169%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 9.3% 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 162.21. 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 1.5x. Coverage is limited: any activity downturn would jeopardize interest payments.

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: 55 days. Favorable situation: supplier credit is longer than customer credit by 19 days. Inventory turnover is 37 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 82 days of revenue, i.e. 701 k€ to permanently finance.

Based on 145 transactions of similar company sales (all years), the value of ANHA CREATION is estimated at 777 885 € (range 299 836€ - 2 025 463€). With an EBITDA of 375 222€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.