MASSEBEUF TEXTILES : revenue, balance sheet and financial ratios

In 2024, MASSEBEUF TEXTILES achieves revenue of 6.0 M€. Revenue is growing positively over 8 years (CAGR: +4.5%). Slight decline of -6% vs 2023. After deducting consumption (2.5 M€), gross margin stands at 3.6 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 207 k€, representing 3.4% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -47%, reducing margin by 2.6 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 148 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 81%. 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 1.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 789.17. 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 4.7x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 75 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. The gap of 32 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 92 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 253 days of revenue, i.e. 4.2 M€ to permanently finance. Over 2016-2024, WCR increased by +70%, requiring additional financing.