MVCI HOLIDAYS FRANCE : revenue, balance sheet and financial ratios

In 2024, MVCI HOLIDAYS FRANCE achieves revenue of 28.4 M€. Activity remains stable over the period (CAGR: -0.3%). Slight decline of -4% vs 2023. After deducting consumption (1.4 M€), gross margin stands at 27.1 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.6 M€, representing 9.3% of revenue. This level of operating margin is satisfactory for the sector. Net income is negative at -417 k€ (-1.5% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at -165%. 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 -15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 93.6 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 650.33. 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 57.8x. 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: 208 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. The gap of 164 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 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-99 days): operations structurally generate cash. Over 2016-2024, WCR increased by +68%, requiring additional financing.

Based on 261 transactions of similar company sales (all years), the value of MVCI HOLIDAYS FRANCE is estimated at 16 733 923 € (range 10 557 005€ - 31 610 536€). With an EBITDA of 2 645 969€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (in line with sector norms). 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.