CIEL ASCENSEURS : revenue, balance sheet and financial ratios

In 2024, CIEL ASCENSEURS achieves revenue of 887 k€. Revenue is growing positively over 8 years (CAGR: +0.7%). Vs 2022: +8%. After deducting consumption (345 k€), gross margin stands at 542 k€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 61 k€, representing 6.9% of revenue. Warning negative scissor effect: despite revenue change (+8%), EBITDA varies by -34%, reducing margin by 4.5 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 38 k€, i.e. 4.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 41%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 21%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.9% 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 288.67. 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 0.9x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 97 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. The gap of 63 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 27 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-25 days): operations structurally generate cash. Notable WCR improvement over the period (-208%), freeing up cash.

Based on 58 transactions of similar company sales (all years), the value of CIEL ASCENSEURS is estimated at 120 026 € (range 79 607€ - 248 891€). With an EBITDA of 61 255€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.20x (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.