FRIEDLANDER BSL : revenue, balance sheet and financial ratios

In 2024, FRIEDLANDER BSL achieves revenue of 10.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +63.9%. Vs 2023, growth of +516% (1.7 M€ -> 10.7 M€). After deducting consumption (446 k€), gross margin stands at 10.3 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -264 k€, representing -2.5% of revenue. Warning negative scissor effect: despite revenue change (+516%), EBITDA varies by -313%, reducing margin by 9.6 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 664 k€, i.e. 6.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 242%. 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 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 8.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 234.81. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 218 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 95 days. The gap of 123 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 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 202 days of revenue, i.e. 6.0 M€ to permanently finance. Over 2016-2024, WCR increased by +33340%, requiring additional financing.

Based on 98 transactions of similar company sales (all years), the value of FRIEDLANDER BSL is estimated at 1 896 289 € (range 759 007€ - 3 194 830€). The price/revenue ratio is 0.18x (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.