GROUPE DES EDITIONS MUNICIPALES DE FRANCE : revenue, balance sheet and financial ratios

In 2024, GROUPE DES EDITIONS MUNICIPALES DE FRANCE achieves revenue of 4.6 M€. Activity remains stable over the period (CAGR: -4.6%). Significant drop of -11% vs 2023. After deducting consumption (285 €), gross margin stands at 4.6 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 74 k€, representing 1.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.8 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 57 k€, i.e. 1.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 158%. 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 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 175.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 159.88. 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 70.4x. 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: 51 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 86 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 72 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 136 days of revenue, i.e. 1.7 M€ to permanently finance. Over 2016-2024, WCR increased by +49%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of GROUPE DES EDITIONS MUNICIPALES DE FRANCE is estimated at 430 756 € (range 200 797€ - 904 645€). With an EBITDA of 74 174€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.