BERTHOULY CONSTRUCTION : revenue, balance sheet and financial ratios

In 2024, BERTHOULY CONSTRUCTION achieves revenue of 13.6 M€. Revenue is declining over the period 2016-2024 (CAGR: -5.4%). Slight decline of -10% vs 2023. After deducting consumption (1.4 M€), gross margin stands at 12.2 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 549 k€, representing 4.0% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -59%, reducing margin by 4.9 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 250 k€, i.e. 1.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 149.56. 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 4.4x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 105 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 116 days. Favorable situation: supplier credit is longer than customer credit by 11 days. Inventory turnover is 28 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 93 days of revenue, i.e. 3.5 M€ to permanently finance. Notable WCR improvement over the period (-54%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 1 092 603€ to 3 209 784€ is provided for information purposes only and requires in-depth analysis to be confirmed.