CONSTRUCTIONS DE L'ATLANTIQUE : revenue, balance sheet and financial ratios

In 2024, CONSTRUCTIONS DE L'ATLANTIQUE achieves revenue of 1.9 M€. Activity remains stable over the period (CAGR: -2.9%). Slight decline of -0% vs 2023. After deducting consumption (224 k€), gross margin stands at 1.6 M€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 154 k€, representing 8.3% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -27%, reducing margin by 3.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 116 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 1%. 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 47%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.3% 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 184.63. 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 3.3x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 128 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. The gap of 36 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 191 days of revenue, i.e. 986 k€ to permanently finance. Over 2021-2024, WCR increased by +357%, requiring additional financing.

Based on 113 transactions of similar company sales (all years), the value of CONSTRUCTIONS DE L'ATLANTIQUE is estimated at 399 129 € (range 167 772€ - 813 369€). With an EBITDA of 153 694€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.