ESPACE LOISIRS RHODIA PLAGE : revenue, balance sheet and financial ratios

In 2020, ESPACE LOISIRS RHODIA PLAGE achieves revenue of 104 k€. Revenue is declining over the period 2017-2020 (CAGR: -19.4%). Significant drop of -45% vs 2019. After deducting consumption (6 k€), gross margin stands at 98 k€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 30 k€, representing 29.3% of revenue. Positive scissor effect: EBITDA margin improves by +28.6 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 18 k€, i.e. 17.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10823%. 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 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 11.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 23.0% 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 172.24. 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 3.8x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 71 days of revenue, i.e. 20 k€ to permanently finance. Over 2017-2020, WCR increased by +98%, requiring additional financing.

Based on 153 transactions of similar company sales (all years), the value of ESPACE LOISIRS RHODIA PLAGE is estimated at 184 645 € (range 95 988€ - 290 282€). With an EBITDA of 30 365€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.