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

In 2024, PROLOGIS FRANCE LXXXVII EURL achieves revenue of 1.6 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.4%. Significant drop of -15% vs 2023. After deducting consumption (0 €), gross margin stands at 1.6 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 1.0 M€, representing 64.0% of revenue. Warning negative scissor effect: despite revenue change (-15%), EBITDA varies by -22%, reducing margin by 5.7 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 374 k€, i.e. 23.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 94%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 50%. 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 7.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 59.4% 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 2128.88. 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 11.3x. 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: 80 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. The company must finance 6 days of gap between collections and payments. Overall, WCR represents 795 days of revenue, i.e. 3.6 M€ to permanently finance.

Based on 169 transactions of similar company sales in 2024, the value of PROLOGIS FRANCE LXXXVII EURL is estimated at 3 783 334 € (range 1 065 517€ - 6 798 893€). With an EBITDA of 1 030 175€, 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.