PLACIER DEVELOPPEMENT : revenue, balance sheet and financial ratios

In 2024, PLACIER DEVELOPPEMENT achieves revenue of 230 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.0%. Vs 2023: +1%. After deducting consumption (0 €), gross margin stands at 230 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 15 k€, representing 6.6% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -26%, reducing margin by 2.4 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 39 k€, i.e. 16.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 78%. 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 3.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 17.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 942.08. 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 6.4x. 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: 312 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The gap of 259 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 709 days of revenue, i.e. 453 k€ to permanently finance. Over 2016-2024, WCR increased by +37%, requiring additional financing.

Based on 103 transactions of similar company sales in 2024, the value of PLACIER DEVELOPPEMENT is estimated at 137 769 € (range 44 217€ - 313 663€). With an EBITDA of 15 227€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.