INICEA IMMO AUXERRE : revenue, balance sheet and financial ratios

In 2024, INICEA IMMO AUXERRE achieves revenue of 1.8 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +24.2%. Vs 2023, growth of +13% (1.6 M€ -> 1.8 M€). After deducting consumption (0 €), gross margin stands at 1.8 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 77 k€, representing 4.2% of revenue. Positive scissor effect: EBITDA margin improves by +72.3 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 514 k€, i.e. 27.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 133%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 27.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 176.07. 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 33.9x. 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: 164 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. The gap of 91 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 353 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2017-2024, WCR increased by +2496%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of INICEA IMMO AUXERRE is estimated at 1 362 636 € (range 438 396€ - 2 488 486€). With an EBITDA of 76 752€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.