MANUTENTION SERVICES : revenue, balance sheet and financial ratios

In 2024, MANUTENTION SERVICES achieves revenue of 9.2 M€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +35.2%. Significant drop of -33% vs 2023. After deducting consumption (7.6 M€), gross margin stands at 1.6 M€, i.e. a rate of 18%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 140 k€, representing 1.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3 k€, i.e. 0.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 28%. 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 55%. 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 16.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 280.83. 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 85.4x. 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: 169 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 99 days. The gap of 70 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 137 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 330 days of revenue, i.e. 8.4 M€ to permanently finance. Over 2021-2024, WCR increased by +168%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 447 633€ to 1 037 223€ is provided for information purposes only and requires in-depth analysis to be confirmed.