AVENIR DECONSTRUCTION : revenue, balance sheet and financial ratios

In 2024, AVENIR DECONSTRUCTION achieves revenue of 70.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.8%. Vs 2023, growth of +19% (58.9 M€ -> 70.1 M€). After deducting consumption (6.6 M€), gross margin stands at 63.5 M€, i.e. a rate of 91%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 820 k€, representing 1.2% of revenue. Warning negative scissor effect: despite revenue change (+19%), EBITDA varies by -61%, reducing margin by 2.4 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 813 k€, i.e. 1.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 36%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 16.3 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 151.52. 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 8.6x. 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: 125 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 80 days. The gap of 45 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 115 days of revenue, i.e. 22.5 M€ to permanently finance. Over 2016-2024, WCR increased by +89%, requiring additional financing.

Based on 136 transactions of similar company sales (all years), the value of AVENIR DECONSTRUCTION is estimated at 5 579 174 € (range 2 753 564€ - 12 749 299€). With an EBITDA of 819 966€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.21x (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.