COGEREM CONSEILS GESTION REMORQUAGE : revenue, balance sheet and financial ratios

In 2024, COGEREM CONSEILS GESTION REMORQUAGE achieves revenue of 12.6 M€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.9%. Vs 2023, growth of +18% (10.6 M€ -> 12.6 M€). After deducting consumption (0 €), gross margin stands at 12.6 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 855 k€, representing 6.8% of revenue. Positive scissor effect: EBITDA margin improves by +5.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 778 k€, i.e. 6.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8376%. 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 0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.0% 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 185.68. 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 33.5x. 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: 103 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 20 days. The gap of 83 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 75 days of revenue, i.e. 2.6 M€ to permanently finance. Over 2021-2024, WCR increased by +307%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of COGEREM CONSEILS GESTION REMORQUAGE is estimated at 3 935 138 € (range 1 449 332€ - 7 629 696€). With an EBITDA of 854 631€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.