BLUEMATRIX : revenue, balance sheet and financial ratios

In 2022, BLUEMATRIX achieves revenue of 998 k€. Activity remains stable over the period (CAGR: -1.7%). Vs 2021, growth of +19% (841 k€ -> 998 k€). After deducting consumption (122 k€), gross margin stands at 876 k€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 303 k€, representing 30.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 241 k€, i.e. 24.1% 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 50%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 25.3% 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 485.07. 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 0.1x. 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: 164 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. The gap of 145 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 23 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 56 days of revenue, i.e. 155 k€ to permanently finance. Notable WCR improvement over the period (-52%), freeing up cash.

Based on 98 transactions of similar company sales (all years), the value of BLUEMATRIX is estimated at 867 745 € (range 213 654€ - 1 438 290€). With an EBITDA of 303 176€, the sector multiple of 3.5x is applied. The price/revenue ratio is 0.36x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.