FILPROMER : revenue, balance sheet and financial ratios

In 2024, FILPROMER achieves revenue of 17.9 M€. Revenue is growing positively over 11 years (CAGR: +4.7%). Slight decline of -1% vs 2023. After deducting consumption (6.0 M€), gross margin stands at 12.0 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.1 M€, representing 17.0% of 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 2.0 M€, i.e. 11.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 26%. 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 49%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.4% 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 107.81. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 38 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 17 days of revenue, i.e. 858 k€ to permanently finance. Over 2014-2024, WCR increased by +216%, requiring additional financing.

Based on 242 transactions of similar company sales in 2024, the value of FILPROMER is estimated at 15 964 778 € (range 8 608 400€ - 26 044 292€). With an EBITDA of 3 056 330€, the sector multiple of 6.6x is applied. The price/revenue ratio is 0.56x (in line with sector norms). 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.