MONTBIAN AG : revenue, balance sheet and financial ratios

In 2017, MONTBIAN AG achieves revenue of 1.5 M€. Vs 2016, growth of +96% (742 k€ -> 1.5 M€). After deducting consumption (1.0 M€), gross margin stands at 440 k€, i.e. a rate of 30%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 55 k€, representing 3.8% of revenue. Warning negative scissor effect: despite revenue change (+96%), EBITDA varies by +28%, reducing margin by 2.0 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 35 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 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 0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 3.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 100.26. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 28 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 139 days. Excellent situation: suppliers finance 111 days of the operating cycle (retail model). Inventory turnover is 125 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-23 days): operations structurally generate cash.

Based on 124 transactions of similar company sales (all years), the value of MONTBIAN AG is estimated at 118 186 € (range 61 812€ - 373 359€). With an EBITDA of 54 672€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.