ENVIRONNEMENT PLUS : revenue, balance sheet and financial ratios

In 2024, ENVIRONNEMENT PLUS achieves revenue of 1.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.5%. Vs 2023: +10%. After deducting consumption (150 k€), gross margin stands at 1.2 M€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 234 k€, representing 17.7% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by -6%, reducing margin by 2.8 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 267 k€, i.e. 20.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.6% 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 510.03. 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 1.2x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 84 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 21 days. The gap of 63 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 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-49 days): operations structurally generate cash. Notable WCR improvement over the period (-3298%), freeing up cash.

Based on 125 transactions of similar company sales (all years), the value of ENVIRONNEMENT PLUS is estimated at 636 307 € (range 228 149€ - 1 176 070€). With an EBITDA of 233 906€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.35x (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.