FRANCE-ANTILLES PRODUCTION : revenue, balance sheet and financial ratios

In 2024, FRANCE-ANTILLES PRODUCTION achieves revenue of 4.0 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +210.0%. Vs 2023, growth of +25% (3.2 M€ -> 4.0 M€). After deducting consumption (902 k€), gross margin stands at 3.1 M€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 469 k€, representing 11.7% of revenue. Warning negative scissor effect: despite revenue change (+25%), EBITDA varies by -36%, reducing margin by 11.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 127 k€, i.e. 3.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 118%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 36%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 11.4% 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 218.64. 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 108.8x. 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: 459 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 347 days. The gap of 112 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 23 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 782 days of revenue, i.e. 8.7 M€ to permanently finance.

Based on 72 transactions of similar company sales (all years), the value of FRANCE-ANTILLES PRODUCTION is estimated at 1 628 795 € (range 858 907€ - 3 178 028€). With an EBITDA of 468 662€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.25x (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.