ATLANTEN : revenue, balance sheet and financial ratios

In 2024, ATLANTEN achieves revenue of 12.8 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.9%. Vs 2023, growth of +41% (9.1 M€ -> 12.8 M€). After deducting consumption (11.0 M€), gross margin stands at 1.9 M€, i.e. a rate of 15%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 225 k€, representing 1.8% of revenue. Warning negative scissor effect: despite revenue change (+41%), EBITDA varies by -44%, reducing margin by 2.7 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 163 k€, i.e. 1.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 483%. 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 8%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 66.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 180.48. 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 77.9x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 80 days. Excellent situation: suppliers finance 61 days of the operating cycle (retail model). Inventory turnover is 106 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 144 days of revenue, i.e. 5.2 M€ to permanently finance.

Based on 148 transactions of similar company sales in 2024, the value of ATLANTEN is estimated at 884 998 € (range 395 867€ - 1 631 622€). With an EBITDA of 225 221€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.