LOGICOR (LOREN) GARONOR SNC : revenue, balance sheet and financial ratios

In 2024, LOGICOR (LOREN) GARONOR SNC achieves revenue of 1.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.3%. Slight decline of -4% vs 2023. After deducting consumption (0 €), gross margin stands at 1.2 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 590 k€, representing 50.7% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -8%, reducing margin by 2.4 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 161 k€, i.e. 13.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 556%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. 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 12.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 31.3% 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 244.71. 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 48.0x. 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: 57 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 71 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Overall, WCR represents 58 days of revenue, i.e. 189 k€ to permanently finance. Over 2016-2024, WCR increased by +1259%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of LOGICOR (LOREN) GARONOR SNC is estimated at 2 154 011 € (range 611 164€ - 3 873 620€). With an EBITDA of 590 187€, 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.