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

In 2024, PROLOGIS FRANCE XLVI EURL achieves revenue of 3.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.8%. Vs 2023: +5%. After deducting consumption (0 €), gross margin stands at 3.9 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 2.7 M€, representing 69.1% of revenue. Positive scissor effect: EBITDA margin improves by +25.4 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 1.6 M€, i.e. 41.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 41%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 66%. 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 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 61.5% 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 1740.35. 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 2.6x. 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: 88 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. The gap of 37 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 654 days of revenue, i.e. 7.0 M€ to permanently finance. Over 2016-2024, WCR increased by +1122%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of PROLOGIS FRANCE XLVI EURL is estimated at 10 614 041 € (range 2 998 571€ - 19 084 270€). With an EBITDA of 2 671 136€, 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.