KLEPIERRE MANAGEMENT : revenue, balance sheet and financial ratios

In 2024, KLEPIERRE MANAGEMENT achieves revenue of 102.1 M€. Revenue is growing positively over 8 years (CAGR: +0.6%). Vs 2023: +10%. After deducting consumption (0 €), gross margin stands at 102.1 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 11.3 M€, representing 11.1% of revenue. Positive scissor effect: EBITDA margin improves by +10.7 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.7 M€, i.e. 4.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.7% 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 101.40. 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 0.9x. 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: 56 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 174 days. Excellent situation: suppliers finance 118 days of the operating cycle (retail model). Overall, WCR represents 55 days of revenue, i.e. 15.6 M€ to permanently finance. Over 2016-2024, WCR increased by +117%, requiring additional financing.

Based on 277 transactions of similar company sales (all years), the value of KLEPIERRE MANAGEMENT is estimated at 18 369 608 € (range 7 302 629€ - 48 254 093€). With an EBITDA of 11 341 614€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.