MANRIQUE-OPPERMANN : revenue, balance sheet and financial ratios

In 2022, MANRIQUE-OPPERMANN achieves revenue of 3.1 M€. Over the period 2021-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +56.6%. Vs 2021, growth of +57% (1.9 M€ -> 3.1 M€). After deducting consumption (1.3 M€), gross margin stands at 1.7 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 95 k€, representing 3.1% of revenue. Warning negative scissor effect: despite revenue change (+57%), EBITDA varies by -17%, reducing margin by 2.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 15 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 1126%. 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 3%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 136.88. 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 22.9x. 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: 123 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 70 days. The gap of 53 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 34 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 140 days of revenue, i.e. 1.2 M€ to permanently finance.

Based on 68 transactions of similar company sales (all years), the value of MANRIQUE-OPPERMANN is estimated at 351 401 € (range 128 949€ - 922 561€). With an EBITDA of 95 471€, the sector multiple of 2.9x is applied. The price/revenue ratio is 0.22x (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.