CCL : revenue, balance sheet and financial ratios

In 2024, CCL achieves revenue of 145 k€. Revenue is declining over the period 2016-2024 (CAGR: -8.9%). Significant drop of -57% vs 2023. After deducting consumption (57 k€), gross margin stands at 87 k€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 10 k€, representing 7.1% of revenue. Positive scissor effect: EBITDA margin improves by +4.2 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 675 €, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 23%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 496.72. 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 11.7x. 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: 261 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 28 days. The gap of 233 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 154 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 359 days of revenue, i.e. 144 k€ to permanently finance. Over 2016-2024, WCR increased by +97%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (29 transactions). This range of 8 021€ to 30 733€ is provided for information purposes only and requires in-depth analysis to be confirmed.