CEHSH2 PROPCO FR CERGY : revenue, balance sheet and financial ratios

In 2024, CEHSH2 PROPCO FR CERGY achieves revenue of 1.2 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +77.0%. Vs 2023: +5%. After deducting consumption (0 €), gross margin stands at 1.2 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 919 k€, representing 76.5% of revenue. Positive scissor effect: EBITDA margin improves by +3.1 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 577 k€, i.e. 48.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 822%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 11%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 193.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 9.7% 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 443.04. 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 87.3x. 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: 95 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 82 days. The company must finance 13 days of gap between collections and payments. Overall, WCR represents 168 days of revenue, i.e. 559 k€ to permanently finance. Notable WCR improvement over the period (-50%), freeing up cash.

Based on 169 transactions of similar company sales in 2024, the value of CEHSH2 PROPCO FR CERGY is estimated at 3 651 148 € (range 1 028 898€ - 6 563 228€). With an EBITDA of 919 446€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.