MARTINIQUE RECYCLAGE : revenue, balance sheet and financial ratios

In 2024, MARTINIQUE RECYCLAGE achieves revenue of 6.7 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.1%. Vs 2023, growth of +10% (6.0 M€ -> 6.7 M€). After deducting consumption (52 k€), gross margin stands at 6.6 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 21.3% of revenue. Positive scissor effect: EBITDA margin improves by +5.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.5 M€, i.e. 22.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 60%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 25.4% 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 217.04. 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 6.2x. 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: 239 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 137 days. The gap of 102 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 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 362 days of revenue, i.e. 6.7 M€ to permanently finance. Over 2019-2024, WCR increased by +198%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (48 transactions). This range of 654 996€ to 4 708 218€ is provided for information purposes only and requires in-depth analysis to be confirmed.