COLIBRIJE : revenue, balance sheet and financial ratios

In 2024, COLIBRIJE achieves revenue of 3.0 M€. Revenue is growing positively over 7 years (CAGR: +4.6%). Significant drop of -14% vs 2022. After deducting consumption (2.1 M€), gross margin stands at 880 k€, i.e. a rate of 29%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 47 k€, representing 1.6% of revenue. Positive scissor effect: EBITDA margin improves by +4.4 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 27 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 35%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 152.33. 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 8.3x. 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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 67 days. Excellent situation: suppliers finance 43 days of the operating cycle (retail model). Inventory turnover is 34 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 54 days of revenue, i.e. 449 k€ to permanently finance. Notable WCR improvement over the period (-28%), freeing up cash.

Based on 145 transactions of similar company sales (all years), the value of COLIBRIJE is estimated at 252 580 € (range 123 449€ - 646 515€). With an EBITDA of 47 336€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.