PATURLE ACIERS : revenue, balance sheet and financial ratios

In 2024, PATURLE ACIERS achieves revenue of 32.3 M€. Activity remains stable over the period (CAGR: -0.7%). Significant drop of -15% vs 2023. After deducting consumption (12.4 M€), gross margin stands at 19.9 M€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.7 M€, representing 5.3% of revenue. Warning negative scissor effect: despite revenue change (-15%), EBITDA varies by -61%, reducing margin by 6.0 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 96 k€, i.e. 0.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. 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 74%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 331.05. 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 2.5x. 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: 8 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 45 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 124 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 16 days of revenue, i.e. 1.4 M€ to permanently finance. Notable WCR improvement over the period (-63%), freeing up cash.