ANNECY BETON CARRIERES : revenue, balance sheet and financial ratios

In 2024, ANNECY BETON CARRIERES achieves revenue of 7.3 M€. Activity remains stable over the period (CAGR: -1.9%). Significant drop of -23% vs 2023. After deducting consumption (496 k€), gross margin stands at 6.8 M€, i.e. a rate of 93%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 15.7% of revenue. Warning negative scissor effect: despite revenue change (-23%), EBITDA varies by -47%, 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 301 k€, i.e. 4.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 75%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 14.6% 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 198.17. 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 1.6x. 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: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 156 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 171 days of revenue, i.e. 3.4 M€ to permanently finance. Notable WCR improvement over the period (-29%), freeing up cash.

Based on 95 transactions of similar company sales (all years), the value of ANNECY BETON CARRIERES is estimated at 1 257 100 € (range 419 525€ - 6 610 348€). With an EBITDA of 1 142 921€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.