APPLICATION ETUDE CLIMATISAT CHAUFFAGE : revenue, balance sheet and financial ratios

In 2024, APPLICATION ETUDE CLIMATISAT CHAUFFAGE achieves revenue of 1.5 M€. Revenue is growing positively over 8 years (CAGR: +3.6%). Vs 2023, growth of +27% (1.2 M€ -> 1.5 M€). After deducting consumption (693 k€), gross margin stands at 789 k€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 160 k€, representing 10.8% of revenue. Positive scissor effect: EBITDA margin improves by +6.1 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 100 k€, i.e. 6.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 80%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.1% 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 664.53. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 33 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. Excellent situation: suppliers finance 41 days of the operating cycle (retail model). Inventory turnover is 19 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 64 days of revenue, i.e. 263 k€ to permanently finance. Notable WCR improvement over the period (-22%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 83 698€ to 403 815€ is provided for information purposes only and requires in-depth analysis to be confirmed.