HUTTOPIA ANGERS : revenue, balance sheet and financial ratios

In 2023, HUTTOPIA ANGERS achieves revenue of 1.4 M€. Over the period 2017-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +25.2%. Vs 2022, growth of +13% (1.3 M€ -> 1.4 M€). After deducting consumption (73 k€), gross margin stands at 1.3 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 156 k€, representing 11.1% of revenue. Positive scissor effect: EBITDA margin improves by +5.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Net income is negative at -32 k€ (-2.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at -428%. 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 -19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 7.9% 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 23.20. 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 23.6x. 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: 11 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 100 days. Excellent situation: suppliers finance 89 days of the operating cycle (retail model). Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-24 days): operations structurally generate cash.

Based on 153 transactions of similar company sales (all years), the value of HUTTOPIA ANGERS is estimated at 1 551 962 € (range 909 717€ - 2 188 216€). With an EBITDA of 156 226€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.