CALADE INTERIM : revenue, balance sheet and financial ratios

In 2024, CALADE INTERIM achieves revenue of 1.0 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.3%. Significant drop of -33% vs 2023. After deducting consumption (0 €), gross margin stands at 1.0 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 25 k€, representing 2.5% of revenue. Warning negative scissor effect: despite revenue change (-33%), EBITDA varies by -69%, reducing margin by 3.0 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 14 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 133.97. 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 7.6x. 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: 84 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 168 days. Excellent situation: suppliers finance 84 days of the operating cycle (retail model). Overall, WCR represents 51 days of revenue, i.e. 141 k€ to permanently finance. Over 2022-2024, WCR increased by +80%, requiring additional financing.

Based on 135 transactions of similar company sales (all years), the value of CALADE INTERIM is estimated at 53 788 € (range 32 958€ - 114 910€). With an EBITDA of 25 074€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.08x (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.