BIO ENERGIES RIVAULT : revenue, balance sheet and financial ratios

In 2021, BIO ENERGIES RIVAULT achieves revenue of 725 k€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +109.6%. Vs 2020, growth of +14% (633 k€ -> 725 k€). After deducting consumption (91 k€), gross margin stands at 633 k€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 271 k€, representing 37.4% of revenue. Warning negative scissor effect: despite revenue change (+14%), EBITDA varies by -4%, reducing margin by 7.4 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 276%. 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 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 35.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 259.04. 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 14.9x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 188 days. Excellent situation: suppliers finance 119 days of the operating cycle (retail model). Inventory turnover is 84 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 197 days of revenue, i.e. 396 k€ to permanently finance. Over 2016-2021, WCR increased by +191%, requiring additional financing.

Based on 127 transactions of similar company sales (all years), the value of BIO ENERGIES RIVAULT is estimated at 437 700 € (range 56 527€ - 1 630 099€). With an EBITDA of 271 241€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.59x (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.