EIFFAGE ENERGIE SYSTEMES - CLEMESSY : revenue, balance sheet and financial ratios

In 2024, EIFFAGE ENERGIE SYSTEMES - CLEMESSY achieves revenue of 739.2 M€. Revenue is growing positively over 8 years (CAGR: +4.6%). Vs 2023: +8%. After deducting consumption (120.6 M€), gross margin stands at 618.6 M€, i.e. a rate of 84%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 44.2 M€, representing 6.0% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 25.9 M€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 186.46. 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 8.9x. 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: 149 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 69 days. The gap of 80 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 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 41 days of revenue, i.e. 84.6 M€ to permanently finance. Notable WCR improvement over the period (-20%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (29 transactions). This range of 42 434 903€ to 160 494 262€ is provided for information purposes only and requires in-depth analysis to be confirmed.