ANTILLES POLY PLASTIQUES : revenue, balance sheet and financial ratios

In 2024, ANTILLES POLY PLASTIQUES achieves revenue of 3.5 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.9%. Slight decline of -1% vs 2023. After deducting consumption (2.3 M€), gross margin stands at 1.2 M€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 300 k€, representing 8.5% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -26%, reducing margin by 2.9 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 326 k€, i.e. 9.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 41%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 52%. 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.8% 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 286.87. 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 11.6x. 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: 14 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. Excellent situation: suppliers finance 59 days of the operating cycle (retail model). Inventory turnover is 45 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 66 days of revenue, i.e. 648 k€ to permanently finance. Over 2017-2024, WCR increased by +504%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of ANTILLES POLY PLASTIQUES is estimated at 516 536 € (range 213 002€ - 1 151 631€). With an EBITDA of 299 690€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.