CENTRE INTERNATIONAL D ETUDES SUR LE COMMERCE EXTERIEUR : revenue, balance sheet and financial ratios

In 2024, CENTRE INTERNATIONAL D ETUDES SUR LE COMMERCE EXTERIEUR achieves revenue of 3.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.6%. Vs 2023, growth of +20% (2.9 M€ -> 3.4 M€). After deducting consumption (0 €), gross margin stands at 3.4 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 1.3 M€, representing 39.0% of revenue. Warning negative scissor effect: despite revenue change (+20%), EBITDA varies by +1%, reducing margin by 7.4 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 1.0 M€, i.e. 29.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 274%. 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 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 26.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 761.35. 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 6.8x. 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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. The gap of 48 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 473 days of revenue, i.e. 4.5 M€ to permanently finance. Over 2016-2024, WCR increased by +898%, requiring additional financing.

Based on 412 transactions of similar company sales (all years), the value of CENTRE INTERNATIONAL D ETUDES SUR LE COMMERCE EXTERIEUR is estimated at 3 067 544 € (range 1 215 063€ - 8 801 091€). With an EBITDA of 1 344 545€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.29x (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.