PUBLI ROUTAGE DIFFUSION : revenue, balance sheet and financial ratios

In 2024, PUBLI ROUTAGE DIFFUSION achieves revenue of 637 k€. Activity remains stable over the period (CAGR: -3.5%). Slight decline of -9% vs 2023. After deducting consumption (105 k€), gross margin stands at 532 k€, i.e. a rate of 84%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -567 k€, representing -89.1% of revenue. Positive scissor effect: EBITDA margin improves by +8.5 pts, sign of improved operational efficiency. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 50 k€, i.e. 7.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 72%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.1% 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 411.22. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. The gap of 41 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 21 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 367 days of revenue, i.e. 650 k€ to permanently finance. Over 2016-2024, WCR increased by +60%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (41 transactions). This range of 84 080€ to 353 040€ is provided for information purposes only and requires in-depth analysis to be confirmed.