CENTRALE D'ACHATS FLECK-BEYER : revenue, balance sheet and financial ratios

In 2024, CENTRALE D'ACHATS FLECK-BEYER achieves revenue of 1.3 M€. Revenue is growing positively over 8 years (CAGR: +1.1%). Vs 2023, growth of +11% (1.1 M€ -> 1.3 M€). After deducting consumption (780 k€), gross margin stands at 472 k€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 33 k€, representing 2.6% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -42%, reducing margin by 2.3 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 27 k€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 223%. 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 18%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 14.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 193.49. 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 29.7x. 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: 82 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. The gap of 35 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 68 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 167 days of revenue, i.e. 583 k€ to permanently finance.

Based on 85 transactions of similar company sales (all years), the value of CENTRALE D'ACHATS FLECK-BEYER is estimated at 144 726 € (range 79 892€ - 397 031€). With an EBITDA of 32 577€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.32x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.