BELAMBRA CLUBS : revenue, balance sheet and financial ratios

In 2024, BELAMBRA CLUBS achieves revenue of 252.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.2%. Vs 2023, growth of +17% (215.1 M€ -> 252.5 M€). After deducting consumption (26.7 M€), gross margin stands at 225.8 M€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 8.4 M€, representing 3.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -1.4 M€ (-0.5% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 1031%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 12.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 73.22. 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 8.1x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. Excellent situation: suppliers finance 55 days of the operating cycle (retail model). Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-6 days): operations structurally generate cash. Over 2016-2024, WCR increased by +42%, requiring additional financing.

Based on 261 transactions of similar company sales (all years), the value of BELAMBRA CLUBS is estimated at 98 563 128 € (range 64 543 337€ - 183 044 933€). With an EBITDA of 8 393 024€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (in line with sector norms). 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.