KENSINGTON FRANCE INDUSTRIAL PROPCO SNC : revenue, balance sheet and financial ratios

In 2024, KENSINGTON FRANCE INDUSTRIAL PROPCO SNC achieves revenue of 3.2 M€. Revenue is growing positively over 9 years (CAGR: +3.5%). Vs 2023, growth of +11% (2.9 M€ -> 3.2 M€). After deducting consumption (0 €), gross margin stands at 3.2 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 1.6 M€, representing 48.9% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -3%, reducing margin by 7.3 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 908 k€, i.e. 28.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 64%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 56%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 43.6% 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 731.57. 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 30.5x. 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: 127 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 78 days. The gap of 49 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 656 days of revenue, i.e. 5.9 M€ to permanently finance. Over 2016-2024, WCR increased by +377%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of KENSINGTON FRANCE INDUSTRIAL PROPCO SNC is estimated at 6 426 348 € (range 1 837 173€ - 11 568 979€). With an EBITDA of 1 574 689€, 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.