ATL PROTECTION INCENDIE : revenue, balance sheet and financial ratios

In 2013, ATL PROTECTION INCENDIE achieves revenue of 144 k€. Significant drop of -28% vs 2012. After deducting consumption (18 k€), gross margin stands at 126 k€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 31 k€, representing 21.4% of revenue. Positive scissor effect: EBITDA margin improves by +14.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 8 k€, i.e. 5.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 195%. 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 46%. 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 5.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 13.5% 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 122.83. 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 12.8x. 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: 110 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. The gap of 48 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 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 37 days of revenue, i.e. 15 k€ to permanently finance.

Based on 302 transactions of similar company sales (all years), the value of ATL PROTECTION INCENDIE is estimated at 37 223 € (range 16 586€ - 74 012€). With an EBITDA of 30 841€, the sector multiple of 1.6x 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.