COMPAGNIE ALSACIENNE D'EAU ET D'ASSAINISSEMENT : revenue, balance sheet and financial ratios

In 2024, COMPAGNIE ALSACIENNE D'EAU ET D'ASSAINISSEMENT achieves revenue of 1.3 M€. Revenue is growing positively over 10 years (CAGR: +1.1%). Vs 2023: +5%. After deducting consumption (35 €), gross margin stands at 1.3 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 175 k€, representing 13.0% of revenue. Positive scissor effect: EBITDA margin improves by +3.1 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 145 k€, i.e. 10.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -90%. 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 -203%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 11.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 85.02. 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 24.2x. 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: 80 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. The gap of 45 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 1 days of revenue, i.e. 2 k€ to permanently finance. Notable WCR improvement over the period (-100%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (33 transactions). This range of 76 023€ to 608 448€ is provided for information purposes only and requires in-depth analysis to be confirmed.