KERMARREC SYNDIC : revenue, balance sheet and financial ratios

KERMARREC SYNDIC is a French company founded 43 years ago, specialized in the sector Administration d'immeubles et autres biens immobiliers. Based in NANTES (44000), this company of category PME shows in 2024 a revenue of 12.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - KERMARREC SYNDIC (SIREN 326650165)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 12 868 036 € 13 998 682 € 14 147 789 € 12 919 649 € 12 466 960 € 11 999 198 € 11 098 231 € 9 585 618 € 8 127 494 €
Net income 240 053 € 645 935 € 189 878 € 53 725 € 115 740 € 141 973 € 203 503 € 273 143 € 321 246 €
EBITDA 296 269 € -52 635 € -636 142 € -573 242 € -48 438 € 262 315 € 10 500 € 155 311 € 325 777 €
Net margin 1.9% 4.6% 1.3% 0.4% 0.9% 1.2% 1.8% 2.8% 4.0%

Revenue and income statement

In 2024, KERMARREC SYNDIC achieves revenue of 12.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.9%. Slight decline of -8% vs 2023. After deducting consumption (0 €), gross margin stands at 12.9 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 296 k€, representing 2.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 240 k€, i.e. 1.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

12 868 036 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

12 868 036 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

296 269 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

1 092 755 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

240 053 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

2.3%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 73%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 8%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

73.438%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

8.394%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-4.042%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-4.409

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

21.1%

Solvency indicators evolution
KERMARREC SYNDIC

Sector positioning

Debt ratio
73.44 2024
2022
2023
2024
Q1: 0.0
Med: 9.88
Q3: 66.83
Average

In 2024, the debt ratio of KERMARREC SYNDIC (73.44) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
8.39% 2024
2022
2023
2024
Q1: 3.12%
Med: 14.33%
Q3: 43.68%
Average +8 pts over 3 years

In 2024, the financial autonomy of KERMARREC SYNDIC (8.4%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-4.41 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.18 years
Q3: 4.28 years
Excellent

In 2024, the repayment capacity of KERMARREC SYNDIC (-4.41) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 106.40. 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 87.7x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

106.397

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

87.704

Liquidity indicators evolution
KERMARREC SYNDIC

Sector positioning

Liquidity ratio
106.4 2024
2022
2023
2024
Q1: 100.01
Med: 116.56
Q3: 409.44
Average

In 2024, the liquidity ratio of KERMARREC SYNDIC (106.40) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
87.7x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 7.69x
Excellent +50 pts over 3 years

In 2024, the interest coverage of KERMARREC SYNDIC (87.7x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 65 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Overall, WCR represents 75 days of revenue, i.e. 2.7 M€ to permanently finance. Over 2016-2024, WCR increased by +135%, requiring additional financing.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

2 674 235 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

43 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

65 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

75 j

WCR and payment terms evolution
KERMARREC SYNDIC

Positioning of KERMARREC SYNDIC in its sector

Comparison with sector Administration d'immeubles et autres biens immobiliers

Valuation estimate

Based on 277 transactions of similar company sales (all years), the value of KERMARREC SYNDIC is estimated at 1 405 186 € (range 623 403€ - 3 325 848€). With an EBITDA of 296 269€, 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.

Estimated enterprise value 2024
277 transactions
623k€ 1405k€ 3325k€
1 405 186 € Range: 623 403€ - 3 325 848€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
296 269 € × 1.3x
Estimation 392 933 €
136 717€ - 1 185 527€
Revenue Multiple 30%
12 868 036 € × 0.29x
Estimation 3 671 958 €
1 769 895€ - 8 010 773€
Net Income Multiple 20%
240 053 € × 2.2x
Estimation 535 666 €
120 382€ - 1 649 266€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 277 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Administration d'immeubles et autres biens immobiliers)

Compare KERMARREC SYNDIC with other companies in the same sector:

Voir toutes les statistiques du secteur Administration d'immeubles et autres biens immobiliers

Frequently asked questions about KERMARREC SYNDIC

What is the revenue of KERMARREC SYNDIC ?

The revenue of KERMARREC SYNDIC in 2024 is 12.9 M€.

Is KERMARREC SYNDIC profitable?

Yes, KERMARREC SYNDIC generated a net profit of 240 k€ in 2024.

Where is the headquarters of KERMARREC SYNDIC ?

The headquarters of KERMARREC SYNDIC is located in NANTES (44000), in the department Loire-Atlantique.

Where to find the tax return of KERMARREC SYNDIC ?

The tax return of KERMARREC SYNDIC is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does KERMARREC SYNDIC operate?

KERMARREC SYNDIC operates in the sector Administration d'immeubles et autres biens immobiliers (NAF code 68.32A). See the 'Sector positioning' section above to compare the company with its competitors.