RAFFIN- LOGISTIQUE : revenue, balance sheet and financial ratios

In 2024, RAFFIN- LOGISTIQUE achieves revenue of 1.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.2%. Vs 2023, growth of +16% (944 k€ -> 1.1 M€). After deducting consumption (21 k€), gross margin stands at 1.1 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 102 k€, representing 9.3% of revenue. Positive scissor effect: EBITDA margin improves by +9.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 23 k€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 63%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 278.05. 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 0.9x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 52 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 41 days. The company must finance 11 days of gap between collections and payments. Overall, WCR represents 64 days of revenue, i.e. 196 k€ to permanently finance. Over 2016-2024, WCR increased by +109%, requiring additional financing.

Based on 215 transactions of similar company sales (all years), the value of RAFFIN- LOGISTIQUE is estimated at 109 521 € (range 50 123€ - 336 864€). With an EBITDA of 102 052€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.16x (conservative 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.