LES EDITIONS DE L'ATELIER-EDITIONS OUVRIERES : revenue, balance sheet and financial ratios

In 2024, LES EDITIONS DE L'ATELIER-EDITIONS OUVRIERES achieves revenue of 596 k€. Revenue is declining over the period 2018-2024 (CAGR: -9.0%). Vs 2023, growth of +32% (450 k€ -> 596 k€). After deducting consumption (0 €), gross margin stands at 596 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 21 k€, representing 3.5% of revenue. Positive scissor effect: EBITDA margin improves by +23.0 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 3 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -52%. 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 -231%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 11.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 41.11. 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 30.3x. 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: 47 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 308 days. Excellent situation: suppliers finance 261 days of the operating cycle (retail model). Inventory turnover is 110 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 26 days of revenue, i.e. 42 k€ to permanently finance.

Based on 104 transactions of similar company sales (all years), the value of LES EDITIONS DE L'ATELIER-EDITIONS OUVRIERES is estimated at 58 591 € (range 28 468€ - 137 043€). With an EBITDA of 21 084€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.