ELIOPACK : revenue, balance sheet and financial ratios

In 2024, ELIOPACK achieves revenue of 52.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.6%. Slight decline of -5% vs 2023. After deducting consumption (35.2 M€), gross margin stands at 16.9 M€, i.e. a rate of 32%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.9 M€, representing 7.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -135 k€ (-0.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 242%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.2% 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 94.54. 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 31.6x. 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: 15 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 94 days. Excellent situation: suppliers finance 79 days of the operating cycle (retail model). Inventory turnover is 61 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 59 days of revenue, i.e. 8.6 M€ to permanently finance. Over 2016-2024, WCR increased by +144%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of ELIOPACK is estimated at 7 062 233 € (range 3 131 478€ - 12 206 116€). With an EBITDA of 3 914 849€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.