REPORAMA : revenue, balance sheet and financial ratios

In 2024, REPORAMA achieves revenue of 2.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.1%. Vs 2023: +10%. After deducting consumption (75 k€), gross margin stands at 2.3 M€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 939 k€, representing 38.8% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by +4%, reducing margin by 2.1 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 552 k€, i.e. 22.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 31.2% 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 126.56. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 28 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. Excellent situation: suppliers finance 53 days of the operating cycle (retail model). Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-54 days): operations structurally generate cash. Notable WCR improvement over the period (-195%), freeing up cash.

Based on 153 transactions of similar company sales (all years), the value of REPORAMA is estimated at 5 317 984 € (range 2 720 238€ - 8 433 546€). With an EBITDA of 939 175€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.