LES VIGNERONS D'UNI-MEDOC : revenue, balance sheet and financial ratios

In 2024, LES VIGNERONS D'UNI-MEDOC achieves revenue of 9.7 M€. Revenue is declining over the period 2016-2024 (CAGR: -6.3%). Significant drop of -11% vs 2023. After deducting consumption (4.9 M€), gross margin stands at 4.8 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 11.0% of revenue. Positive scissor effect: EBITDA margin improves by +4.2 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 19 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 148%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 39%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 13.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 10.9% 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 2433.12. 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 68.5x. 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: 382 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. The gap of 365 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 356 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 768 days of revenue, i.e. 20.6 M€ to permanently finance. Over 2016-2024, WCR increased by +28%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of LES VIGNERONS D'UNI-MEDOC is estimated at 2 462 389 € (range 1 272 730€ - 6 076 098€). With an EBITDA of 1 061 429€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.