PANIFICATION D'AIX : revenue, balance sheet and financial ratios

PANIFICATION D'AIX is a French company founded 29 years ago, specialized in the sector Fabrication industrielle de pain et de pâtisserie fraîche. Based in AIX-LES-BAINS (73100), this company of category ETI shows in 2024 a revenue of 12.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - PANIFICATION D'AIX (SIREN 414646638)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 12 912 089 € 12 223 004 € 10 290 230 € 10 159 359 € 9 038 852 € 9 340 524 € 8 340 858 € 8 325 748 € 7 388 657 €
Net income 420 917 € 282 633 € 32 884 € 161 450 € 214 136 € 307 201 € 246 951 € 443 043 € 369 503 €
EBITDA 2 459 634 € 2 139 847 € 1 825 108 € 2 004 133 € 1 569 798 € 1 687 386 € 1 372 840 € 1 499 897 € -22 498 349 €
Net margin 3.3% 2.3% 0.3% 1.6% 2.4% 3.3% 3.0% 5.3% 5.0%

Revenue and income statement

In 2024, PANIFICATION D'AIX achieves revenue of 12.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.2%. Vs 2023: +6%. After deducting consumption (6.3 M€), gross margin stands at 6.6 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.5 M€, representing 19.0% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 421 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

12 912 089 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

6 636 322 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

2 459 634 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

659 958 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

420 917 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

19.0%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 140%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 10.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

140.445%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

34.547%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

10.656%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

4.182

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

41.5%

Solvency indicators evolution
PANIFICATION D'AIX

Sector positioning

Debt ratio
140.44 2024
2022
2023
2024
Q1: 0.0
Med: 31.34
Q3: 102.72
Watch

In 2024, the debt ratio of PANIFICATION D'AIX (140.44) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
34.55% 2024
2022
2023
2024
Q1: 9.78%
Med: 32.57%
Q3: 56.31%
Good +8 pts over 3 years

In 2024, the financial autonomy of PANIFICATION D'AIX (34.5%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
4.18 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.14 years
Q3: 2.48 years
Watch

In 2024, the repayment capacity of PANIFICATION D'AIX (4.18) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 213.56. 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 3.2x. Financial charges are adequately covered by operations.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

213.558

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

3.163

Liquidity indicators evolution
PANIFICATION D'AIX

Sector positioning

Liquidity ratio
213.56 2024
2022
2023
2024
Q1: 102.62
Med: 152.34
Q3: 237.09
Good -8 pts over 3 years

In 2024, the liquidity ratio of PANIFICATION D'AIX (213.56) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
3.16x 2024
2022
2023
2024
Q1: 0.0x
Med: 1.79x
Q3: 5.95x
Good -17 pts over 3 years

In 2024, the interest coverage of PANIFICATION D'AIX (3.2x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 59 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 38 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 84 days of revenue, i.e. 3.0 M€ to permanently finance. Over 2016-2024, WCR increased by +157%, requiring additional financing.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

3 002 448 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

45 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

59 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

38 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

84 j

WCR and payment terms evolution
PANIFICATION D'AIX

Positioning of PANIFICATION D'AIX in its sector

Comparison with sector Fabrication industrielle de pain et de pâtisserie fraîche

Valuation estimate

Based on 203 transactions of similar company sales in 2024, the value of PANIFICATION D'AIX is estimated at 11 170 962 € (range 6 135 661€ - 17 496 634€). With an EBITDA of 2 459 634€, the sector multiple of 6.7x is applied. The price/revenue ratio is 0.55x (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.

Estimated enterprise value 2024
203 transactions
6135k€ 11170k€ 17496k€
11 170 962 € Range: 6 135 661€ - 17 496 634€
NAF 5 année 2024

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
2 459 634 € × 6.7x
Estimation 16 561 029 €
8 818 769€ - 26 490 141€
Revenue Multiple 30%
12 912 089 € × 0.55x
Estimation 7 162 043 €
4 473 313€ - 9 533 881€
Net Income Multiple 20%
420 917 € × 8.8x
Estimation 3 709 173 €
1 921 415€ - 6 956 999€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 203 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Fabrication industrielle de pain et de pâtisserie fraîche)

Compare PANIFICATION D'AIX with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication industrielle de pain et de pâtisserie fraîche

Frequently asked questions about PANIFICATION D'AIX

What is the revenue of PANIFICATION D'AIX ?

The revenue of PANIFICATION D'AIX in 2024 is 12.9 M€.

Is PANIFICATION D'AIX profitable?

Yes, PANIFICATION D'AIX generated a net profit of 421 k€ in 2024.

Where is the headquarters of PANIFICATION D'AIX ?

The headquarters of PANIFICATION D'AIX is located in AIX-LES-BAINS (73100), in the department Savoie.

Where to find the tax return of PANIFICATION D'AIX ?

The tax return of PANIFICATION D'AIX is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does PANIFICATION D'AIX operate?

PANIFICATION D'AIX operates in the sector Fabrication industrielle de pain et de pâtisserie fraîche (NAF code 10.71A). See the 'Sector positioning' section above to compare the company with its competitors.