LOCATION MAINTENANCE IMMOBILIERE HAVRAISE : revenue, balance sheet and financial ratios

In 2017, LOCATION MAINTENANCE IMMOBILIERE HAVRAISE achieves revenue of 83 k€. Over the period 2015-2017, the company shows strong growth with a CAGR (compound annual growth rate) of +13.6%. Vs 2016, growth of +12% (74 k€ -> 83 k€). After deducting consumption (0 €), gross margin stands at 83 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 42 k€, representing 50.4% of revenue. Warning negative scissor effect: despite revenue change (+12%), EBITDA varies by +8%, reducing margin by 2.2 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 20 k€, i.e. 24.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -2226%. 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 104%. 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 10.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 56.3% 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 84.23. 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 30.4x. 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. Favorable situation: supplier credit is longer than customer credit by 14 days. WCR is negative (-55 days): operations structurally generate cash. Notable WCR improvement over the period (-23%), freeing up cash.

Based on 227 transactions of similar company sales in 2017, the value of LOCATION MAINTENANCE IMMOBILIERE HAVRAISE is estimated at 131 067 € (range 43 021€ - 257 675€). With an EBITDA of 41 689€, the sector multiple of 4.4x is applied. The price/revenue ratio is 0.62x (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.