DISTRITUBE SA : revenue, balance sheet and financial ratios

In 2024, DISTRITUBE SA achieves revenue of 29.6 M€. Revenue is growing positively over 8 years (CAGR: +4.9%). Significant drop of -21% vs 2022. After deducting consumption (22.3 M€), gross margin stands at 7.3 M€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.3 M€, representing 4.5% of revenue. Warning negative scissor effect: despite revenue change (-21%), EBITDA varies by -75%, reducing margin by 9.9 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.5 M€, i.e. 5.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 52%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 53%. 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 5.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 239.78. 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 8.7x. 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: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Favorable situation: supplier credit is longer than customer credit by 3 days. Inventory turnover is 162 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 192 days of revenue, i.e. 15.8 M€ to permanently finance. Over 2016-2024, WCR increased by +65%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (23 transactions). This range of 1 579 212€ to 5 497 032€ is provided for information purposes only and requires in-depth analysis to be confirmed.