CARAIBES REMORQUAGE : revenue, balance sheet and financial ratios

In 2024, CARAIBES REMORQUAGE achieves revenue of 4.5 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.1%. Vs 2023: +5%. After deducting consumption (-41 k€), gross margin stands at 4.5 M€, i.e. a rate of 101%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 26.8% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -7%, reducing margin by 3.7 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 1.1 M€, i.e. 24.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 77%. Debt level is high: negotiating margin with banks is reduced. 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.

The liquidity ratio (= Current assets / Current liabilities) stands at 410.38. 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 17.2x. 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: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 137 days. Excellent situation: suppliers finance 83 days of the operating cycle (retail model). Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 56 days of revenue, i.e. 695 k€ to permanently finance. Over 2015-2024, WCR increased by +63%, requiring additional financing.

Based on 205 transactions of similar company sales (all years), the value of CARAIBES REMORQUAGE is estimated at 928 848 € (range 388 721€ - 2 480 924€). With an EBITDA of 1 203 626€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.