INICEA IMMO SAINT-BRIEUC : revenue, balance sheet and financial ratios

In 2024, INICEA IMMO SAINT-BRIEUC achieves revenue of 1.2 M€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +78.6%. Vs 2023: +6%. After deducting consumption (30 €), gross margin stands at 1.2 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 468 k€, representing 38.3% of revenue. Positive scissor effect: EBITDA margin improves by +20.1 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 366 k€, i.e. 29.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 243%. 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 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 30.0% 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 292.74. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 159 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. The gap of 99 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 365 days of revenue, i.e. 1.2 M€ to permanently finance.

Based on 169 transactions of similar company sales in 2024, the value of INICEA IMMO SAINT-BRIEUC is estimated at 2 103 332 € (range 609 406€ - 3 792 484€). With an EBITDA of 467 598€, 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.