PROLOGIS FRANCE LVIII EURL : revenue, balance sheet and financial ratios

In 2024, PROLOGIS FRANCE LVIII EURL achieves revenue of 7.2 M€. Revenue is growing positively over 9 years (CAGR: +2.5%). Vs 2023, growth of +13% (6.4 M€ -> 7.2 M€). After deducting consumption (0 €), gross margin stands at 7.2 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.4 M€, representing 47.0% of revenue. Positive scissor effect: EBITDA margin improves by +11.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.7 M€, i.e. 24.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 93%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 48%. 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 3.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 47.0% 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 668.64. 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 4.7x. 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: 179 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. The gap of 105 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 301 days of revenue, i.e. 6.0 M€ to permanently finance. Over 2016-2024, WCR increased by +5746%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of PROLOGIS FRANCE LVIII EURL is estimated at 13 503 145 € (range 3 862 485€ - 24 309 192€). With an EBITDA of 3 362 648€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (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.