CEVA AIR & OCEAN INTERNATIONAL : revenue, balance sheet and financial ratios

CEVA AIR & OCEAN INTERNATIONAL is a French company founded 80 years ago, specialized in the sector Affrètement et organisation des transports . Based in COURBEVOIE (92400), this company of category GE shows in 2022 a revenue of 2.5 Mds€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - CEVA AIR & OCEAN INTERNATIONAL (SIREN 552088536)
Indicator 2022 2021 2020 2019 2018 2017 2016
Revenue 2 511 492 068 € 1 928 355 909 € 1 629 714 271 € 1 562 404 248 € 1 550 366 066 € 1 472 944 737 € 1 332 456 375 €
Net income 112 025 468 € 59 305 109 € 32 973 911 € 59 191 829 € 54 119 678 € 55 600 579 € 65 595 269 €
EBITDA 32 701 688 € 21 366 713 € 19 883 626 € 25 369 890 € 26 995 342 € 35 053 430 € 36 492 234 €
Net margin 4.5% 3.1% 2.0% 3.8% 3.5% 3.8% 4.9%

Revenue and income statement

In 2022, CEVA AIR & OCEAN INTERNATIONAL achieves revenue of 2.5 Bn€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +11.1%. Vs 2021, growth of +30% (1.9 Bn€ -> 2.5 Bn€). After deducting consumption (15.3 M€), gross margin stands at 2.5 Bn€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 32.7 M€, representing 1.3% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 112.0 M€, i.e. 4.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

2 511 492 068 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

2 496 144 821 €

EBITDA (2022) ?
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

32 701 688 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

23 942 882 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

112 025 468 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

1.3%

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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 10%. 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 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

10.351%

Financial autonomy (2022) ?
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

34.213%

Cash flow / Revenue (2022) ?
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

3.469%

Repayment capacity (2022) ?
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

0.491

Asset age ratio (2022) ?
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

50.3%

Solvency indicators evolution
CEVA AIR & OCEAN INTERNATIONAL

Sector positioning

Debt ratio
10.35 2022
2020
2021
2022
Q1: 0.0
Med: 9.06
Q3: 56.97
Average

In 2022, the debt ratio of CEVA AIR & OCEAN INTERNAT... (10.35) 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
34.21% 2022
2020
2021
2022
Q1: 12.83%
Med: 30.08%
Q3: 48.96%
Good -7 pts over 3 years

In 2022, the financial autonomy of CEVA AIR & OCEAN INTERNAT... (34.2%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
0.49 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.09 years
Q3: 1.48 years
Average -8 pts over 3 years

In 2022, the repayment capacity of CEVA AIR & OCEAN INTERNAT... (0.49) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 128.66. 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 36.8x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2022) ?
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

128.659

Interest coverage (2022) ?
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

36.781

Liquidity indicators evolution
CEVA AIR & OCEAN INTERNATIONAL

Sector positioning

Liquidity ratio
128.66 2022
2020
2021
2022
Q1: 120.01
Med: 155.71
Q3: 224.86
Average -6 pts over 3 years

In 2022, the liquidity ratio of CEVA AIR & OCEAN INTERNAT... (128.66) 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
36.78x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.41x
Q3: 3.78x
Excellent

In 2022, the interest coverage of CEVA AIR & OCEAN INTERNAT... (36.8x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 85 days of revenue, i.e. 594.5 M€ to permanently finance. Over 2016-2022, WCR increased by +204%, requiring additional financing.

Operating WCR (2022) ?
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

594 470 172 €

Customer credit (2022) ?
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

36 j

Supplier credit (2022) ?
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

50 j

Inventory turnover (2022) ?
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

1 j

WCR in days of revenue (2022) ?
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

85 j

WCR and payment terms evolution
CEVA AIR & OCEAN INTERNATIONAL

Positioning of CEVA AIR & OCEAN INTERNATIONAL in its sector

Comparison with sector Affrètement et organisation des transports

Valuation estimate

Based on 167 transactions of similar company sales (all years), the value of CEVA AIR & OCEAN INTERNATIONAL is estimated at 108 768 742 € (range 82 171 425€ - 211 327 354€). With an EBITDA of 32 701 688€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.11x (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.

Estimated enterprise value 2022
167 transactions
82171k€ 108768k€ 211327k€
108 768 742 € Range: 82 171 425€ - 211 327 354€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
32 701 688 € × 0.9x
Estimation 29 288 034 €
10 700 457€ - 40 720 669€
Revenue Multiple 30%
2 511 492 068 € × 0.11x
Estimation 266 374 905 €
236 129 083€ - 467 492 069€
Net Income Multiple 20%
112 025 468 € × 0.6x
Estimation 71 061 271 €
29 912 362€ - 253 596 996€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 167 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 (Affrètement et organisation des transports )

Compare CEVA AIR & OCEAN INTERNATIONAL with other companies in the same sector:

Voir toutes les statistiques du secteur Affrètement et organisation des transports

Frequently asked questions about CEVA AIR & OCEAN INTERNATIONAL

What is the revenue of CEVA AIR & OCEAN INTERNATIONAL ?

The revenue of CEVA AIR & OCEAN INTERNATIONAL in 2022 is 2.5 Mds€.

Is CEVA AIR & OCEAN INTERNATIONAL profitable?

Yes, CEVA AIR & OCEAN INTERNATIONAL generated a net profit of 112.0 M€ in 2022.

Where is the headquarters of CEVA AIR & OCEAN INTERNATIONAL ?

The headquarters of CEVA AIR & OCEAN INTERNATIONAL is located in COURBEVOIE (92400), in the department Hauts-de-Seine.

Where to find the tax return of CEVA AIR & OCEAN INTERNATIONAL ?

The tax return of CEVA AIR & OCEAN INTERNATIONAL 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 CEVA AIR & OCEAN INTERNATIONAL operate?

CEVA AIR & OCEAN INTERNATIONAL operates in the sector Affrètement et organisation des transports (NAF code 52.29B). See the 'Sector positioning' section above to compare the company with its competitors.