CLIMDAL : revenue, balance sheet and financial ratios

In 2024, CLIMDAL achieves revenue of 2.0 M€. Revenue is growing positively over 6 years (CAGR: +1.4%). Vs 2023: +3%. After deducting consumption (1.4 M€), gross margin stands at 645 k€, i.e. a rate of 32%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 138 k€, representing 6.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 90 k€, i.e. 4.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 59%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.6% 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 231.02. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. The company must finance 20 days of gap between collections and payments. Inventory turnover is 45 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 106 days of revenue, i.e. 591 k€ to permanently finance.

Based on 124 transactions of similar company sales (all years), the value of CLIMDAL is estimated at 192 165 € (range 98 436€ - 620 971€). With an EBITDA of 138 204€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.