ETABLISSEMENTS LUCIEN BRESSON : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS LUCIEN BRESSON achieves revenue of 56.8 M€. Revenue is growing positively over 9 years (CAGR: +3.6%). Significant drop of -25% vs 2023. After deducting consumption (49.1 M€), gross margin stands at 7.6 M€, i.e. a rate of 13%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.9 M€, representing 3.3% of revenue. Warning negative scissor effect: despite revenue change (-25%), EBITDA varies by -66%, reducing margin by 4.0 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 911 k€, i.e. 1.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 63%. 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 1.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 325.46. 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 18.1x. 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: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. The company must finance 19 days of gap between collections and payments. Inventory turnover is 54 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 81 days of revenue, i.e. 12.8 M€ to permanently finance. Over 2016-2024, WCR increased by +62%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of ETABLISSEMENTS LUCIEN BRESSON is estimated at 3 279 416 € (range 2 115 659€ - 5 550 277€). With an EBITDA of 1 852 119€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.