AUREA S.A.S. : revenue, balance sheet and financial ratios

In 2024, AUREA S.A.S. achieves revenue of 8.1 M€. Activity remains stable over the period (CAGR: -0.9%). Slight decline of -9% vs 2023. After deducting consumption (0 €), gross margin stands at 8.1 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.8 M€, representing 34.7% of revenue. Positive scissor effect: EBITDA margin improves by +8.2 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 2.0 M€, i.e. 24.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 76%. 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 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 25.9% 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 948.28. 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 0.8x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 99 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 41 days. The gap of 58 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 649 days of revenue, i.e. 14.6 M€ to permanently finance. Over 2017-2024, WCR increased by +758%, requiring additional financing.

Based on 215 transactions of similar company sales (all years), the value of AUREA S.A.S. is estimated at 2 351 275 € (range 982 034€ - 8 505 633€). With an EBITDA of 2 809 697€, the sector multiple of 1.0x 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.