ENGIE GROUP PARTICIPATIONS : revenue, balance sheet and financial ratios

In 2024, ENGIE GROUP PARTICIPATIONS achieves revenue of 1.0 M€. Revenue is growing positively over 8 years (CAGR: +3.3%). Significant drop of -94% vs 2022. After deducting consumption (0 €), gross margin stands at 1.0 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.9 M€, representing 673.1% of revenue. Positive scissor effect: EBITDA margin improves by +598.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 531.9 M€, i.e. 51585.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 51%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 66%. 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 4.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 48850.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 495.98. 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 1784.9x. 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: 2417 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 80 days. The gap of 2337 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 11766 days of revenue, i.e. 33.7 M€ to permanently finance. Notable WCR improvement over the period (-98%), freeing up cash.

Based on 103 transactions of similar company sales in 2024, the value of ENGIE GROUP PARTICIPATIONS is estimated at 1 028 998 363 € (range 350 346 615€ - 2 752 563 335€). With an EBITDA of 6 939 826€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.