ATLANTIQUE OUVERTURES : revenue, balance sheet and financial ratios

In 2024, ATLANTIQUE OUVERTURES achieves revenue of 38.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.1%. Slight decline of -4% vs 2023. After deducting consumption (15.6 M€), gross margin stands at 23.1 M€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.0 M€, representing 5.2% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -52%, reducing margin by 5.1 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 852 k€, i.e. 2.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 126%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 36%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 239.50. 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 14.9x. 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: 47 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 33 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 60 days of revenue, i.e. 6.4 M€ to permanently finance. Over 2016-2024, WCR increased by +302%, requiring additional financing.

Based on 51 transactions of similar company sales in 2024, the value of ATLANTIQUE OUVERTURES is estimated at 3 806 460 € (range 1 962 099€ - 5 388 751€). With an EBITDA of 2 017 013€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.14x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.