BEJO PRODUCTION : revenue, balance sheet and financial ratios

In 2025, BEJO PRODUCTION achieves revenue of 31.3 M€. Revenue is growing positively over 10 years (CAGR: +2.7%). Significant drop of -13% vs 2024. After deducting consumption (18.4 M€), gross margin stands at 13.0 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 3.9 M€, representing 12.3% of revenue. Warning negative scissor effect: despite revenue change (-13%), EBITDA varies by -45%, reducing margin by 7.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.8 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 55%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 168.13. 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 0.3x. 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: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 192 days. Excellent situation: suppliers finance 149 days of the operating cycle (retail model). Inventory turnover is 146 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 288 days of revenue, i.e. 25.0 M€ to permanently finance. Over 2016-2025, WCR increased by +224%, requiring additional financing.

Based on 138 transactions of similar company sales (all years), the value of BEJO PRODUCTION is estimated at 11 233 379 € (range 3 858 895€ - 19 114 187€). With an EBITDA of 3 855 025€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.