ANNIRO COLLECTIONS : revenue, balance sheet and financial ratios

In 2024, ANNIRO COLLECTIONS achieves revenue of 5.2 M€. Activity remains stable over the period (CAGR: -0.1%). Vs 2023, growth of +14% (4.6 M€ -> 5.2 M€). After deducting consumption (3.6 M€), gross margin stands at 1.6 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 699 k€, representing 13.3% of revenue. Positive scissor effect: EBITDA margin improves by +7.0 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 513 k€, i.e. 9.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 56%. 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 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.1% 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 435.77. 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 1.9x. 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: 50 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 53 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 92 days of revenue, i.e. 1.3 M€ to permanently finance. Notable WCR improvement over the period (-29%), freeing up cash.

Based on 121 transactions of similar company sales (all years), the value of ANNIRO COLLECTIONS is estimated at 1 923 102 € (range 858 165€ - 4 531 036€). With an EBITDA of 698 695€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.