BOUWFONDS EUR REAL EST FUND FR PARIS : revenue, balance sheet and financial ratios

In 2024, BOUWFONDS EUR REAL EST FUND FR PARIS achieves revenue of 5.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.9%. Vs 2023: +6%. After deducting consumption (0 €), gross margin stands at 5.1 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.7 M€, representing 72.2% of revenue. Warning negative scissor effect: despite revenue change (+6%), EBITDA varies by +1%, reducing margin by 3.2 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 1.5 M€, i.e. 28.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7204%. 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 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 11.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 43.7% 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 1017.86. 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 25.7x. 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: 25 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 107 days. Excellent situation: suppliers finance 82 days of the operating cycle (retail model). WCR is negative (-61 days): operations structurally generate cash. Notable WCR improvement over the period (-174%), freeing up cash.

Based on 277 transactions of similar company sales (all years), the value of BOUWFONDS EUR REAL EST FUND FR PARIS is estimated at 3 548 945 € (range 1 213 647€ - 10 380 344€). With an EBITDA of 3 707 796€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.