AUTO CAMPING CAR SERVICE : revenue, balance sheet and financial ratios

In 2024, AUTO CAMPING CAR SERVICE achieves revenue of 32.1 M€. Revenue is growing positively over 9 years (CAGR: +1.6%). Significant drop of -17% vs 2023. After deducting consumption (26.2 M€), gross margin stands at 5.9 M€, i.e. a rate of 18%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 286 k€, representing 0.9% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -86%, reducing margin by 4.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -24 k€ (-0.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 131%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 20%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 0.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 118.84. 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 66.0x. 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: 11 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 82 days. Excellent situation: suppliers finance 71 days of the operating cycle (retail model). Inventory turnover is 158 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 163 days of revenue, i.e. 14.5 M€ to permanently finance. Over 2016-2024, WCR increased by +206%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of AUTO CAMPING CAR SERVICE is estimated at 1 645 844 € (range 1 105 354€ - 5 880 822€). With an EBITDA of 286 253€, the sector multiple of 0.8x is applied. The price/revenue ratio is 0.13x (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.