INFRONT FRANCE TRAVEL : revenue, balance sheet and financial ratios

INFRONT FRANCE TRAVEL is a French company founded 15 years ago, specialized in the sector Activités des agences de voyage. Based in BOULOGNE-BILLANCOURT (92100), this company of category PME shows in 2020 a revenue of 20.7 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 - INFRONT FRANCE TRAVEL (SIREN 529924524)
Indicator 2020 2019 2018 2017 2016 2016
Revenue 20 722 295 € 818 997 € 380 697 € 431 693 € 28 015 € 588 560 €
Net income -723 022 € 74 365 € 33 967 € 12 600 € 1 385 € 36 279 €
EBITDA 10 108 277 € 106 965 € 44 774 € 25 621 € 1 854 € 60 443 €
Net margin -3.5% 9.1% 8.9% 2.9% 4.9% 6.2%

Revenue and income statement

In 2020, INFRONT FRANCE TRAVEL achieves revenue of 20.7 M€. Over the period 2016-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +143.6%. Vs 2019, growth of +2430% (819 k€ -> 20.7 M€). After deducting consumption (0 €), gross margin stands at 20.7 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 10.1 M€, representing 48.8% of revenue. Positive scissor effect: EBITDA margin improves by +35.7 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -723 k€ (-3.5% of revenue), which will impact equity.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

20 722 295 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

20 722 295 €

EBITDA (2020) ?
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

10 108 277 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-192 786 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-723 022 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

48.8%

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Chart evolution

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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 -792%. 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 -3%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-792.332%

Financial autonomy (2020) ?
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

-3.491%

Cash flow / Revenue (2020) ?
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

-1.286%

Repayment capacity (2020) ?
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

-22.819

Asset age ratio (2020) ?
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

56.3%

Solvency indicators evolution
INFRONT FRANCE TRAVEL

Sector positioning

Debt ratio
-792.33 2020
2018
2019
2020
Q1: 0.0
Med: 16.64
Q3: 97.17
Excellent

In 2020, the debt ratio of INFRONT FRANCE TRAVEL (-792.33) 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
-3.49% 2020
2018
2019
2020
Q1: 5.49%
Med: 19.9%
Q3: 40.2%
Average -50 pts over 3 years

In 2020, the financial autonomy of INFRONT FRANCE TRAVEL (-3.5%) 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
-22.82 years 2020
2018
2019
2020
Q1: -1.22 years
Med: 0.0 years
Q3: 0.12 years
Excellent

In 2020, the repayment capacity of INFRONT FRANCE TRAVEL (-22.82) 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 134.81. 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 4.2x. Financial charges are adequately covered by operations.

Liquidity ratio (2020) ?
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

134.81

Interest coverage (2020) ?
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

4.239

Liquidity indicators evolution
INFRONT FRANCE TRAVEL

Sector positioning

Liquidity ratio
134.81 2020
2018
2019
2020
Q1: 105.29
Med: 145.62
Q3: 278.44
Average -32 pts over 3 years

In 2020, the liquidity ratio of INFRONT FRANCE TRAVEL (134.81) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
4.24x 2020
2018
2019
2020
Q1: -0.68x
Med: 0.0x
Q3: 0.0x
Excellent +23 pts over 3 years

In 2020, the interest coverage of INFRONT FRANCE TRAVEL (4.2x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 88 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 311 days. Excellent situation: suppliers finance 223 days of the operating cycle (retail model). Overall, WCR represents 124 days of revenue, i.e. 7.2 M€ to permanently finance. Over 2016-2020, WCR increased by +6735%, requiring additional financing.

Operating WCR (2020) ?
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

7 156 652 €

Customer credit (2020) ?
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

88 j

Supplier credit (2020) ?
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

311 j

Inventory turnover (2020) ?
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

0 j

WCR in days of revenue (2020) ?
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

124 j

WCR and payment terms evolution
INFRONT FRANCE TRAVEL

Positioning of INFRONT FRANCE TRAVEL in its sector

Comparison with sector Activités des agences de voyage

Valuation estimate

Based on 80 transactions of similar company sales (all years), the value of INFRONT FRANCE TRAVEL is estimated at 13 211 317 € (range 5 913 232€ - 33 386 452€). With an EBITDA of 10 108 277€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.38x (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.

Estimated enterprise value 2020
80 tx
5913k€ 13211k€ 33386k€
13 211 317 € Range: 5 913 232€ - 33 386 452€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
10 108 277 € × 1.6x
Estimation 16 400 841 €
6 450 688€ - 46 413 663€
Revenue Multiple 30%
20 722 295 € × 0.38x
Estimation 7 895 443 €
5 017 475€ - 11 674 434€
How is this estimate calculated?

This estimate is based on the analysis of 80 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 (Activités des agences de voyage)

Compare INFRONT FRANCE TRAVEL with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des agences de voyage

Frequently asked questions about INFRONT FRANCE TRAVEL

What is the revenue of INFRONT FRANCE TRAVEL ?

The revenue of INFRONT FRANCE TRAVEL in 2020 is 20.7 M€.

Is INFRONT FRANCE TRAVEL profitable?

INFRONT FRANCE TRAVEL recorded a net loss in 2020.

Where is the headquarters of INFRONT FRANCE TRAVEL ?

The headquarters of INFRONT FRANCE TRAVEL is located in BOULOGNE-BILLANCOURT (92100), in the department Hauts-de-Seine.

Where to find the tax return of INFRONT FRANCE TRAVEL ?

The tax return of INFRONT FRANCE TRAVEL 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 INFRONT FRANCE TRAVEL operate?

INFRONT FRANCE TRAVEL operates in the sector Activités des agences de voyage (NAF code 79.11Z). See the 'Sector positioning' section above to compare the company with its competitors.