PLEIN AIR DES DEUX BAIES : revenue, balance sheet and financial ratios

In 2024, PLEIN AIR DES DEUX BAIES achieves revenue of 706 k€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +23.1%. Vs 2023, growth of +42% (498 k€ -> 706 k€). After deducting consumption (54 k€), gross margin stands at 652 k€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 141 k€, representing 19.9% of revenue. Warning negative scissor effect: despite revenue change (+42%), EBITDA varies by -1%, reducing margin by 8.5 pts. This reflects costs rising faster than 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 5 k€, i.e. 0.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1795%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 23.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 13.6% 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 0.00. Alert: short-term debt exceeds current assets. Risk of payment difficulties without cash reinforcement. The interest coverage ratio (= EBIT / Interest expenses) is 27.2x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 226 days. Excellent situation: suppliers finance 226 days of the operating cycle (retail model). WCR is negative (-59 days): operations structurally generate cash. Notable WCR improvement over the period (-150%), freeing up cash.

Based on 153 transactions of similar company sales (all years), the value of PLEIN AIR DES DEUX BAIES is estimated at 850 540 € (range 480 964€ - 1 221 086€). With an EBITDA of 140 545€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.