BDR THERMEA FRANCE : revenue, balance sheet and financial ratios

BDR THERMEA FRANCE is a French company founded 8 years ago, specialized in the sector Fabrication de radiateurs et de chaudières pour le chauffage central. Based in MERTZWILLER (67580), this company of category ETI shows in 2024 a revenue of 343.2 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - BDR THERMEA FRANCE (SIREN 833457211)
Indicator 2024 2022 2020 2019 2018 2017
Revenue 343 181 899 € 483 137 185 € 404 240 754 € 398 881 099 € 397 906 260 € N/C
Net income -61 673 234 € 2 305 721 € 3 592 145 € 6 468 329 € 8 754 375 € -12 731 €
EBITDA -16 982 842 € 25 454 395 € 26 810 800 € 19 230 078 € 19 552 110 € -12 731 €
Net margin -18.0% 0.5% 0.9% 1.6% 2.2% N/C

Revenue and income statement

In 2024, BDR THERMEA FRANCE achieves revenue of 343.2 M€. Activity remains stable over the period (CAGR: -2.4%). Significant drop of -29% vs 2022. After deducting consumption (201.6 M€), gross margin stands at 141.6 M€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -17.0 M€, representing -4.9% of revenue. Warning negative scissor effect: despite revenue change (-29%), EBITDA varies by -167%, reducing margin by 10.2 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -61.7 M€ (-18.0% of revenue), which will impact equity.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

343 181 899 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

141 601 172 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

-16 982 842 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-46 815 181 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-61 673 234 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-4.9%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 12%. 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 54%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

11.854%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

53.678%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-5.075%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-1.073

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

20.8%

Solvency indicators evolution
BDR THERMEA FRANCE

Sector positioning

Debt ratio
11.85 2024
2020
2022
2024
Q1: 0.18
Med: 7.92
Q3: 47.3
Average +24 pts over 3 years

In 2024, the debt ratio of BDR THERMEA FRANCE (11.85) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
53.68% 2024
2020
2022
2024
Q1: 15.19%
Med: 27.14%
Q3: 43.11%
Excellent

In 2024, the financial autonomy of BDR THERMEA FRANCE (53.7%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
-1.07 years 2024
2020
2022
2024
Q1: -0.99 years
Med: -0.47 years
Q3: 0.0 years
Excellent -44 pts over 3 years

In 2024, the repayment capacity of BDR THERMEA FRANCE (-1.07) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 159.30. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

159.301

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

-18.205

Liquidity indicators evolution
BDR THERMEA FRANCE

Sector positioning

Liquidity ratio
159.3 2024
2020
2022
2024
Q1: 122.51
Med: 159.2
Q3: 215.35
Good

In 2024, the liquidity ratio of BDR THERMEA FRANCE (159.30) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
-18.2x 2024
2020
2022
2024
Q1: -25.07x
Med: 0.0x
Q3: 14.65x
Average -44 pts over 3 years

In 2024, the interest coverage of BDR THERMEA FRANCE (-18.2x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

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: 67 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 105 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 87 days of revenue, i.e. 82.8 M€ to permanently finance.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

82 830 383 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

47 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

67 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

105 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

87 j

WCR and payment terms evolution
BDR THERMEA FRANCE

Positioning of BDR THERMEA FRANCE in its sector

Comparison with sector Fabrication de radiateurs et de chaudières pour le chauffage central

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of BDR THERMEA FRANCE is estimated at 63 396 094 € (range 36 561 274€ - 119 226 820€). The price/revenue ratio is 0.18x (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.

Estimated enterprise value 2024
276 transactions
36561k€ 63396k€ 119226k€
63 396 094 € Range: 36 561 274€ - 119 226 820€
Section all-time Aggregated at NAF section level

Valuation method used

Revenue Multiple
343 181 899 € × 0.18x = 63 396 094 €
Range: 36 561 274€ - 119 226 820€

Only this financial indicator is available for this company.

How is this estimate calculated?

This estimate is based on the analysis of 276 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Fabrication de radiateurs et de chaudières pour le chauffage central)

Compare BDR THERMEA FRANCE with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de radiateurs et de chaudières pour le chauffage central

Frequently asked questions about BDR THERMEA FRANCE

What is the revenue of BDR THERMEA FRANCE ?

The revenue of BDR THERMEA FRANCE in 2024 is 343.2 M€.

Is BDR THERMEA FRANCE profitable?

BDR THERMEA FRANCE recorded a net loss in 2024.

Where is the headquarters of BDR THERMEA FRANCE ?

The headquarters of BDR THERMEA FRANCE is located in MERTZWILLER (67580), in the department Bas-Rhin.

Where to find the tax return of BDR THERMEA FRANCE ?

The tax return of BDR THERMEA FRANCE is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does BDR THERMEA FRANCE operate?

BDR THERMEA FRANCE operates in the sector Fabrication de radiateurs et de chaudières pour le chauffage central (NAF code 25.21Z). See the 'Sector positioning' section above to compare the company with its competitors.