ATELIER DU PLESSIS : revenue, balance sheet and financial ratios

In 2024, ATELIER DU PLESSIS achieves revenue of 352 k€. Revenue is growing positively over 6 years (CAGR: +2.8%). Significant drop of -16% vs 2023. After deducting consumption (93 k€), gross margin stands at 259 k€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 54 k€, representing 15.2% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -46%, reducing margin by 8.4 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 33 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 74%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.5% 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 195.07. 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: 270 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 18 days. The gap of 252 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 189 days of revenue, i.e. 185 k€ to permanently finance. Over 2018-2024, WCR increased by +398%, requiring additional financing.

Based on 276 transactions of similar company sales (all years), the value of ATELIER DU PLESSIS is estimated at 84 885 € (range 29 305€ - 210 900€). With an EBITDA of 53 737€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.