H2O PRODUCTIONS : revenue, balance sheet and financial ratios

H2O PRODUCTIONS is a French company founded 16 years ago, specialized in the sector Production de films et de programmes pour la télévision . Based in BOULOGNE-BILLANCOURT (92100), this company of category ETI shows in 2023 a revenue of 34.0 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - H2O PRODUCTIONS (SIREN 521679407)
Indicator 2023 2022 2018 2017 2016 2015 2014
Revenue 34 042 585 € 36 605 010 € 43 162 567 € 45 638 755 € 52 057 073 € 26 801 654 € 20 674 137 €
Net income -7 937 991 € 5 571 879 € 5 582 623 € 5 517 313 € 10 088 368 € 5 173 573 € 3 507 009 €
EBITDA -12 553 528 € 4 646 855 € 9 327 871 € 9 280 133 € 15 231 604 € 8 459 486 € 6 053 189 €
Net margin -23.3% 15.2% 12.9% 12.1% 19.4% 19.3% 17.0%

Revenue and income statement

In 2023, H2O PRODUCTIONS achieves revenue of 34.0 M€. Over the period 2014-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +5.7%. Slight decline of -7% vs 2022. After deducting consumption (0 €), gross margin stands at 34.0 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 -12.6 M€, representing -36.9% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -370%, reducing margin by 49.6 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -7.9 M€ (-23.3% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

34 042 585 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

34 042 585 €

EBITDA (2023) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

-12 553 528 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-12 307 084 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-7 937 991 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-36.9%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at -217%. 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 -6%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-216.893%

Financial autonomy (2023) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

-5.945%

Cash flow / Revenue (2023) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-23.964%

Repayment capacity (2023) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-1.502

Asset age ratio (2023) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

40.1%

Solvency indicators evolution
H2O PRODUCTIONS

Sector positioning

Debt ratio
-216.89 2023
2018
2022
2023
Q1: 0.0
Med: 3.11
Q3: 46.27
Excellent -29 pts over 3 years

In 2023, the debt ratio of H2O PRODUCTIONS (-216.89) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-5.95% 2023
2018
2022
2023
Q1: 1.29%
Med: 23.77%
Q3: 58.39%
Average -11 pts over 3 years

In 2023, the financial autonomy of H2O PRODUCTIONS (-6.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-1.5 years 2023
2018
2022
2023
Q1: 0.0 years
Med: 0.0 years
Q3: 0.42 years
Excellent -33 pts over 3 years

In 2023, the repayment capacity of H2O PRODUCTIONS (-1.50) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 106.46. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2023) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

106.458

Interest coverage (2023) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

-2.37

Liquidity indicators evolution
H2O PRODUCTIONS

Sector positioning

Liquidity ratio
106.46 2023
2018
2022
2023
Q1: 108.09
Med: 206.51
Q3: 430.21
Watch -8 pts over 3 years

In 2023, the liquidity ratio of H2O PRODUCTIONS (106.46) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-2.37x 2023
2018
2022
2023
Q1: 0.0x
Med: 0.0x
Q3: 0.44x
Average -50 pts over 3 years

In 2023, the interest coverage of H2O PRODUCTIONS (-2.4x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 105 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 849 days. Excellent situation: suppliers finance 744 days of the operating cycle (retail model). Inventory turnover is 11 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 846 days of revenue, i.e. 80.0 M€ to permanently finance. Over 2014-2023, WCR increased by +1270%, requiring additional financing.

Operating WCR (2023) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

80 009 947 €

Customer credit (2023) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

105 j

Supplier credit (2023) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

849 j

Inventory turnover (2023) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

11 j

WCR in days of revenue (2023) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

846 j

WCR and payment terms evolution
H2O PRODUCTIONS

Positioning of H2O PRODUCTIONS in its sector

Comparison with sector Production de films et de programmes pour la télévision

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 4 976 995€ to 34 334 997€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
4976k€ 15579k€ 34334k€
15 579 785 € Range: 4 976 995€ - 34 334 997€
NAF 5 all-time
How is this estimate calculated?

This estimate is based on the analysis of 28 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Production de films et de programmes pour la télévision )

Compare H2O PRODUCTIONS with other companies in the same sector:

Voir toutes les statistiques du secteur Production de films et de programmes pour la télévision

Frequently asked questions about H2O PRODUCTIONS

What is the revenue of H2O PRODUCTIONS ?

The revenue of H2O PRODUCTIONS in 2023 is 34.0 M€.

Is H2O PRODUCTIONS profitable?

H2O PRODUCTIONS recorded a net loss in 2023.

Where is the headquarters of H2O PRODUCTIONS ?

The headquarters of H2O PRODUCTIONS is located in BOULOGNE-BILLANCOURT (92100), in the department Hauts-de-Seine.

Where to find the tax return of H2O PRODUCTIONS ?

The tax return of H2O PRODUCTIONS is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does H2O PRODUCTIONS operate?

H2O PRODUCTIONS operates in the sector Production de films et de programmes pour la télévision (NAF code 59.11A). See the 'Sector positioning' section above to compare the company with its competitors.