EMAPLAST : revenue, balance sheet and financial ratios

In 2024, EMAPLAST achieves revenue of 9.4 M€. Revenue is growing positively over 7 years (CAGR: +0.7%). Significant drop of -18% vs 2023. After deducting consumption (4.3 M€), gross margin stands at 5.1 M€, i.e. a rate of 54%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5 k€, representing 0.1% of revenue. Warning negative scissor effect: despite revenue change (-18%), EBITDA varies by -98%, reducing margin by 2.2 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 51 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 21%. 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 52%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

The liquidity ratio (= Current assets / Current liabilities) stands at 238.83. 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 371.3x. 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: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Favorable situation: supplier credit is longer than customer credit by 16 days. Inventory turnover is 47 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 50 days of revenue, i.e. 1.3 M€ to permanently finance.

Based on 76 transactions of similar company sales (all years), the value of EMAPLAST is estimated at 593 583 € (range 280 512€ - 847 567€). With an EBITDA of 5 401€, 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.