COOPERATIVE INDUSTRIELLE DE TRAVAUX ELECTRIQUES : revenue, balance sheet and financial ratios

In 2024, COOPERATIVE INDUSTRIELLE DE TRAVAUX ELECTRIQUES achieves revenue of 11.7 M€. Revenue is growing positively over 9 years (CAGR: +0.6%). Significant drop of -13% vs 2023. After deducting consumption (2.7 M€), gross margin stands at 9.1 M€, i.e. a rate of 77%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.0 M€, representing 8.8% of revenue. Positive scissor effect: EBITDA margin improves by +6.1 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 354 k€, i.e. 3.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 27%. 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 61%. 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 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.5% 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 349.38. 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 5.9x. 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: 146 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. The gap of 86 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 45 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 159 days of revenue, i.e. 5.2 M€ to permanently finance. Over 2016-2024, WCR increased by +94%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (37 transactions). This range of 170 061€ to 533 401€ is provided for information purposes only and requires in-depth analysis to be confirmed.