PISCICULTURES DE BRETAGNE : revenue, balance sheet and financial ratios

PISCICULTURES DE BRETAGNE is a French company founded 30 years ago, specialized in the sector Transformation et conservation de poisson, de crustacés et de mollusques. Based in PLOUIGNEAU (29610), this company of category PME shows in 2020 a revenue of 26.1 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 - PISCICULTURES DE BRETAGNE (SIREN 405346495)
Indicator 2020 2019 2018 2017
Revenue 26 144 911 € N/C N/C 21 934 073 €
Net income 663 425 € 804 193 € 582 981 € 437 309 €
EBITDA 1 264 759 € N/C N/C 764 221 €
Net margin 2.5% N/C N/C 2.0%

Revenue and income statement

In 2020, PISCICULTURES DE BRETAGNE achieves revenue of 26.1 M€. Over the period 2017-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +6.0%. After deducting consumption (20.8 M€), gross margin stands at 5.3 M€, i.e. a rate of 20%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.3 M€, representing 4.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 663 k€, i.e. 2.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

26 144 911 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

5 344 339 €

EBITDA (2020) ?
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

1 264 759 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

876 194 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

663 425 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

4.8%

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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 23%. 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 51%. 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

23.3%

Financial autonomy (2020) ?
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

50.628%

Cash flow / Revenue (2020) ?
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

3.659%

Repayment capacity (2020) ?
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

1.139

Asset age ratio (2020) ?
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

39.4%

Solvency indicators evolution
PISCICULTURES DE BRETAGNE

Sector positioning

Debt ratio
23.3 2020
2018
2019
2020
Q1: 6.64
Med: 32.68
Q3: 114.04
Good -22 pts over 3 years

In 2020, the debt ratio of PISCICULTURES DE BRETAGNE (23.30) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
50.63% 2020
2018
2019
2020
Q1: 22.36%
Med: 40.98%
Q3: 56.44%
Good +21 pts over 3 years

In 2020, the financial autonomy of PISCICULTURES DE BRETAGNE (50.6%) 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
1.14 years 2020
2020
Q1: 0.0 years
Med: 1.16 years
Q3: 3.4 years
Good

In 2020, the repayment capacity of PISCICULTURES DE BRETAGNE (1.14) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 208.00. 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 0.9x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2020) ?
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

208.005

Interest coverage (2020) ?
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

0.897

Liquidity indicators evolution
PISCICULTURES DE BRETAGNE

Sector positioning

Liquidity ratio
208.0 2020
2018
2019
2020
Q1: 139.27
Med: 192.43
Q3: 302.64
Good +17 pts over 3 years

In 2020, the liquidity ratio of PISCICULTURES DE BRETAGNE (208.00) 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
0.9x 2020
2020
Q1: 0.0x
Med: 1.44x
Q3: 4.88x
Average

In 2020, the interest coverage of PISCICULTURES DE BRETAGNE (0.9x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 67 days of revenue, i.e. 4.9 M€ to permanently finance. Over 2017-2020, WCR increased by +55%, requiring additional financing.

Operating WCR (2020) ?
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

4 894 066 €

Customer credit (2020) ?
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

43 j

Supplier credit (2020) ?
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

44 j

Inventory turnover (2020) ?
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

14 j

WCR in days of revenue (2020) ?
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

67 j

WCR and payment terms evolution
PISCICULTURES DE BRETAGNE

Positioning of PISCICULTURES DE BRETAGNE in its sector

Comparison with sector Transformation et conservation de poisson, de crustacés et de mollusques

Valuation estimate

Based on 211 transactions of similar company sales in 2020, the value of PISCICULTURES DE BRETAGNE is estimated at 9 842 569 € (range 5 928 204€ - 14 255 616€). With an EBITDA of 1 264 759€, the sector multiple of 5.8x is applied. The price/revenue ratio is 0.66x (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 2020
211 transactions
5928k€ 9842k€ 14255k€
9 842 569 € Range: 5 928 204€ - 14 255 616€
Section année 2020 Aggregated at NAF section level

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
1 264 759 € × 5.8x
Estimation 7 358 139 €
4 421 311€ - 12 543 283€
Revenue Multiple 30%
26 144 911 € × 0.66x
Estimation 17 280 387 €
11 038 766€ - 21 368 265€
Net Income Multiple 20%
663 425 € × 7.4x
Estimation 4 896 921 €
2 029 598€ - 7 867 477€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 211 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 (Transformation et conservation de poisson, de crustacés et de mollusques)

Compare PISCICULTURES DE BRETAGNE with other companies in the same sector:

Voir toutes les statistiques du secteur Transformation et conservation de poisson, de crustacés et de mollusques

Frequently asked questions about PISCICULTURES DE BRETAGNE

What is the revenue of PISCICULTURES DE BRETAGNE ?

The revenue of PISCICULTURES DE BRETAGNE in 2020 is 26.1 M€.

Is PISCICULTURES DE BRETAGNE profitable?

Yes, PISCICULTURES DE BRETAGNE generated a net profit of 663 k€ in 2020.

Where is the headquarters of PISCICULTURES DE BRETAGNE ?

The headquarters of PISCICULTURES DE BRETAGNE is located in PLOUIGNEAU (29610), in the department Finistere.

Where to find the tax return of PISCICULTURES DE BRETAGNE ?

The tax return of PISCICULTURES DE BRETAGNE 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 PISCICULTURES DE BRETAGNE operate?

PISCICULTURES DE BRETAGNE operates in the sector Transformation et conservation de poisson, de crustacés et de mollusques (NAF code 10.20Z). See the 'Sector positioning' section above to compare the company with its competitors.