ARTOIS FLEXIBLES : revenue, balance sheet and financial ratios

In 2024, ARTOIS FLEXIBLES achieves revenue of 2.3 M€. Activity remains stable over the period (CAGR: -0.5%). Slight decline of -0% vs 2023. After deducting consumption (1.5 M€), gross margin stands at 845 k€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 96 k€, representing 4.1% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -57%, reducing margin by 5.5 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 44 k€, i.e. 1.9% 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 74%. 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 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 427.20. 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 1.1x. 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: 49 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 135 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 190 days of revenue, i.e. 1.2 M€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 154 078€ to 428 304€ is provided for information purposes only and requires in-depth analysis to be confirmed.