CARNIVAR : revenue, balance sheet and financial ratios

CARNIVAR is a French company founded 32 years ago, specialized in the sector Commerce de détail de viandes et de produits à base de viande en magasin spécialisé. Based in TOULON (83000), this company of category ETI shows in 2024 a revenue of 19.7 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 - CARNIVAR (SIREN 391671708)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 19 671 972 € 21 720 398 € 22 202 703 € 25 833 902 € 28 613 260 € 28 668 392 € 34 755 987 € 39 097 309 € 46 691 833 €
Net income 52 742 € 225 498 € 123 815 € 188 794 € 283 757 € 193 452 € -152 477 € -692 694 € 107 595 €
EBITDA -486 045 € 392 903 € -342 441 € 640 € 289 352 € -570 549 € -155 817 € -726 051 € -377 766 €
Net margin 0.3% 1.0% 0.6% 0.7% 1.0% 0.7% -0.4% -1.8% 0.2%

Revenue and income statement

In 2024, CARNIVAR achieves revenue of 19.7 M€. Revenue is declining over the period 2016-2024 (CAGR: -10.2%). Slight decline of -9% vs 2023. After deducting consumption (14.8 M€), gross margin stands at 4.9 M€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -486 k€, representing -2.5% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -224%, reducing margin by 4.3 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 53 k€, i.e. 0.3% 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

19 671 972 €

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

4 889 231 €

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

-486 045 €

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

-632 282 €

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

52 742 €

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

-2.5%

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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 115%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

115.051%

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

19.202%

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

1.471%

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

8.254

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

27.6%

Solvency indicators evolution
CARNIVAR

Sector positioning

Debt ratio
115.05 2024
2022
2023
2024
Q1: 0.52
Med: 21.81
Q3: 90.0
Average

In 2024, the debt ratio of CARNIVAR (115.05) 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
19.2% 2024
2022
2023
2024
Q1: 11.73%
Med: 37.41%
Q3: 59.92%
Average

In 2024, the financial autonomy of CARNIVAR (19.2%) 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
8.25 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.23 years
Q3: 1.92 years
Watch

In 2024, the repayment capacity of CARNIVAR (8.25) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 110.39. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

110.389

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

-37.989

Liquidity indicators evolution
CARNIVAR

Sector positioning

Liquidity ratio
110.39 2024
2022
2023
2024
Q1: 86.32
Med: 148.47
Q3: 260.74
Average -18 pts over 3 years

In 2024, the liquidity ratio of CARNIVAR (110.39) 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
-37.99x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.17x
Q3: 3.67x
Watch

In 2024, the interest coverage of CARNIVAR (-38.0x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 180 days. Excellent situation: suppliers finance 180 days of the operating cycle (retail model). Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 200 days of revenue, i.e. 10.9 M€ to permanently finance. Over 2016-2024, WCR increased by +87%, 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

10 902 994 €

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

0 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

180 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

8 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

200 j

WCR and payment terms evolution
CARNIVAR

Positioning of CARNIVAR in its sector

Comparison with sector Commerce de détail de viandes et de produits à base de viande en magasin spécialisé

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (38 transactions). This range of 2 156 485€ to 4 084 985€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
2156k€ 3534k€ 4084k€
3 534 848 € Range: 2 156 485€ - 4 084 985€
NAF 5 année 2024

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 38 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 (Commerce de détail de viandes et de produits à base de viande en magasin spécialisé)

Compare CARNIVAR with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de détail de viandes et de produits à base de viande en magasin spécialisé

Frequently asked questions about CARNIVAR

What is the revenue of CARNIVAR ?

The revenue of CARNIVAR in 2024 is 19.7 M€.

Is CARNIVAR profitable?

Yes, CARNIVAR generated a net profit of 53 k€ in 2024.

Where is the headquarters of CARNIVAR ?

The headquarters of CARNIVAR is located in TOULON (83000), in the department Var.

Where to find the tax return of CARNIVAR ?

The tax return of CARNIVAR 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 CARNIVAR operate?

CARNIVAR operates in the sector Commerce de détail de viandes et de produits à base de viande en magasin spécialisé (NAF code 47.22Z). See the 'Sector positioning' section above to compare the company with its competitors.