ANSSEMS REMORQUES : revenue, balance sheet and financial ratios

In 2024, ANSSEMS REMORQUES achieves revenue of 2.9 M€. Revenue is growing positively over 10 years (CAGR: +0.6%). Slight decline of -2% vs 2023. After deducting consumption (1.9 M€), gross margin stands at 1.0 M€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 84 k€, representing 2.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 32 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 188%. 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 78.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 2470.30. 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 63.6x. 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: 25 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 13 days. The company must finance 12 days of gap between collections and payments. Inventory turnover is 475 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 507 days of revenue, i.e. 4.1 M€ to permanently finance. Over 2015-2024, WCR increased by +99%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of ANSSEMS REMORQUES is estimated at 224 091 € (range 98 009€ - 400 442€). With an EBITDA of 83 896€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.